Real Estate

1 Bedroom condo inventory Toronto

  • Last Updated:
  • Mar 10th, 2020 3:34 pm
[OP]
Deal Fanatic
Feb 22, 2011
9664 posts
11864 upvotes
Toronto

1 Bedroom condo inventory Toronto

Just looking around Fairview and there are none for sale at the moment, 28 have sold in the last 3 months and one is listed for sale for $469k with a conditional offer already.

Is the rest of the city this strapped for inventory for entry level? If so what does that say about Spring 2020?
180 replies
Jr. Member
Nov 14, 2016
157 posts
95 upvotes
Toronto
mazerbeaner wrote: Just looking around Fairview and there are none for sale at the moment, 28 have sold in the last 3 months and one is listed for sale for $469k with a conditional offer already.

Is the rest of the city this strapped for inventory for entry level? If so what does that say about Spring 2020?
Overall inventory is low and the demand is pretty steady which is pulling the number much higher. I can foresee a repeat of the madness that we saw in Spring 2017.
Deal Addict
Feb 19, 2019
1044 posts
1408 upvotes
Stouffville ON
mazerbeaner wrote:

Is the rest of the city this strapped for inventory for entry level?
Unfortunately yes, entry level properties are flying off the shelves.
Full Time and Full Service Realtor
Banned
Dec 10, 2019
117 posts
41 upvotes
Not necessarily true - there are a bit of growing inventories for these entry level units in the downtown core.

Just got to know where to look...

In my opinion, I see condo prices being leveled at $1100-1200 PSF. The unit economics don't support it going higher than that. Expect to see drastic more levels of inventory come up as all these buildings come into fruition, and the whole immigration hypothesis be debunked
[OP]
Deal Fanatic
Feb 22, 2011
9664 posts
11864 upvotes
Toronto
Medeomedeo wrote: Not necessarily true - there are a bit of growing inventories for these entry level units in the downtown core.

Just got to know where to look...

In my opinion, I see condo prices being leveled at $1100-1200 PSF. The unit economics don't support it going higher than that. Expect to see drastic more levels of inventory come up as all these buildings come into fruition, and the whole immigration hypothesis be debunked
Where is the growing inventory, like which neighborhoods or buildings?
Deal Fanatic
Mar 27, 2004
5102 posts
3134 upvotes
Toronto
mazerbeaner wrote: Just looking around Fairview and there are none for sale at the moment, 28 have sold in the last 3 months and one is listed for sale for $469k with a conditional offer already.

Is the rest of the city this strapped for inventory for entry level? If so what does that say about Spring 2020?
That unit sold. Didn't have parking either. I was looking at it. There was also identical that sold a week prior for 449k.
Prices in that area are insane right now for the newer ones at 52 and 56 Forest Manor.

I helped client buy that exact floor plan on higher floor back in August with parking for 470k.

Gives you an idea. Parking spot probably cost 35k there.
Full-time Realtor
Banned
Dec 10, 2019
117 posts
41 upvotes
mazerbeaner wrote: Where is the growing inventory, like which neighborhoods or buildings?
King West, Queen West, ChinaTown, Dundas, Yonge Bloor, etc
Deal Guru
Feb 29, 2008
13878 posts
10152 upvotes
Great. I have a 1 bed I’m planning on selling.
Deal Addict
Jan 26, 2016
1713 posts
1601 upvotes
Toronto, ON
toradian wrote: Overall inventory is low and the demand is pretty steady which is pulling the number much higher. I can foresee a repeat of the madness that we saw in Spring 2017.
Probably related to the incentive by the government. It's true - I see almost no 1-bed rooms on the market, and the ones that are, are already sold conditional.
Jr. Member
Apr 25, 2019
187 posts
208 upvotes
Ontario
JayLove06 wrote: Great. I have a 1 bed I’m planning on selling.
You should sell it to RFD folks and give a special discount for our RFD community ;)
Deal Fanatic
Sep 23, 2007
5061 posts
1155 upvotes
Which areas are good for 1 bedroom? Giving serious thoughts to buying another property. Preferably close to subway.

Right when I was thinking to buy you come up with a thread about how low the inventory is lol. I guess bad timing.
Banned
User avatar
Oct 30, 2019
193 posts
248 upvotes
Toronto
BananaHunter wrote: Which areas are good for 1 bedroom? Giving serious thoughts to buying another property. Preferably close to subway.

Right when I was thinking to buy you come up with a thread about how low the inventory is lol. I guess bad timing.
I like near Yonge and Eg and the Entertainment District. Although, I am unsure if you will get any deals in these areas...
Deal Fanatic
Mar 27, 2004
5102 posts
3134 upvotes
Toronto
there isnt a lot of value out there right now. low supply and lots of buyers.

just recently a 1 bed plus den. 582sqft in downtown markham sold 540k. gives you an idea where the market is at.
Full-time Realtor
Sr. Member
Oct 21, 2016
863 posts
634 upvotes
Medeomedeo wrote: King West, Queen West, ChinaTown, Dundas, Yonge Bloor, etc
These are pretty exclusive areas downtown . Is this increase in inventory coming from new precon projects in the pipeline? Will excess inventory in these areas drive prices down ? Right now prices are going up steadily in the downtown areas you mentioned.
Deal Guru
Feb 29, 2008
13878 posts
10152 upvotes
GaryR28626 wrote: You should sell it to RFD folks and give a special discount for our RFD community ;)
They’d still call me an evil bloodsucking investor.
Deal Guru
Feb 29, 2008
13878 posts
10152 upvotes
oasis100 wrote: there isnt a lot of value out there right now. low supply and lots of buyers.

just recently a 1 bed plus den. 582sqft in downtown markham sold 540k. gives you an idea where the market is at.
Wow
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User avatar
Oct 30, 2019
193 posts
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Toronto
oasis100 wrote: there isnt a lot of value out there right now. low supply and lots of buyers.

just recently a 1 bed plus den. 582sqft in downtown markham sold 540k. gives you an idea where the market is at.
Crazy town, but maybe things go a lot higher. We have a housing crisis.
Deal Fanatic
Sep 23, 2007
5061 posts
1155 upvotes
I used to look at the real estate forum like 7-8 years ago or so. Some people kept calling for a crash. It never happened. There were periods of cooling but nothing ever crashed. Now things even look hot and rising. Damn...
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User avatar
Dec 17, 2009
241 posts
165 upvotes
oasis100 wrote: there isnt a lot of value out there right now. low supply and lots of buyers.

just recently a 1 bed plus den. 582sqft in downtown markham sold 540k. gives you an idea where the market is at.
That is actually insane.

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