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Toronto Condos Downtown

The first six months of 2010 saw Toronto Condominium prices recover in price from the recession periods of 2008-2009. 

Canada’s recent recovery was helped by the Real Estate Industry but then the Government introduced higher interest rates, difficult mortgage qualifications, and a HST in two of the bigger provinces of British Columbia and Ontario. 

Now Real Estate in Toronto has pulled back as most of the transactions set records in the first quarter but now the remaining quarters are forecast to much slower in  2010.

Here is Toronto’s top five Condominium districts that went up in price, the most in the first six months of 2010.

   Toronto’s Top Five Districts by Average Price Appreciation – January to June
    Condominiums (Apartments and Towns)
    ————————————————————————-
                                2008        2009               2010
    Neighbourhoods             Avg. $      Avg. $    % +/-    Avg. $   % +/-
    ————————————————————————-
    The Danforth, East York
     (E03) ——–                   $195,019    $173,508  -11.0%   $222,421   28.2%
    ————————————————————————-
    Yorkville (C02) —-          $619,151    $533,302  -13.9%   $653,745   22.6%
    ————————————————————————-
    Markham (N01) -            $276,492    $272,316   -1.5%   $332,590   22.1%
    ————————————————————————-
    Bayview Village (C15)     $280,292    $276,708   -1.3%   $331,063   19.6%
    ————————————————————————-
    North York (C14)—          $307,717    $304,342   -1.1%   $363,685   19.5%
    ————————————————————————-
    Source: RE/MAX, Toronto Real Estate Board
    * Based on districts reporting sales over 100 units year-to-date

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