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Toronto Condo Market Breaks (More) Records

Toronto Who says it’s only hot on the left coast?  Toronto’s condo market has been the definition of “hot” throughout the summer.

Toronto residential sales spiked 15% in August compared to last year.  Condo sales are up 22%.  Downtown they’re up 32%!

The sales-to-listings ratio for condos in downtown Toronto is now an astounding 90%.  25-35% is typical.

While it’s slowed down a bit in September, RE/MAX Condos Plus says, “multiple offers are the norm,” and advises to beware of the “phantom offer.”