Toronto Real Estate Bidding Wars…

 A Toronto Real Estate bidding war was evident recently in the Beaches area of the city. The home attracted multiple buyers according to newspaper reports, with the final remaining two purchasers, bidding the sold price $605,000 over asking price.

The final sold price was $1,900,000.

This home, a “Grand Beach Residence” on a premium street,Munro Park Ave., is situated south of Queen St. and according to descriptions, was in immaculate condition, with all the character and charm associated with this demand area.

A big drawing point besides this great Beaches neighbourhood was the home is just a short walk to the beach and Queen St. East.

The Beaches has it all, Fitness, Hockey, Lawn Bowling, Paddling, Rugby, Squash and Volleyball to name a few.

Nearby is the Boardwalk, Kew Beach Gardens and the Glen Stewart Ravine. Ashbridges Bay is close by as well. The Beaches Jazz festival and several street fests add character to this great Toronto Neighbourhood.

 Current and updated Condo and Homes for sale in the Beaches area, East (E02) can be found on my Toronto Real Estate website.

Kew Beach Avenue, Alfresco Lawn and Hubbard Blvd. are just some of the other fine streets in the Beaches area. Take a look, you too might just want to buy a home here as well.

Markham Condos

New Condominium building are appearing more and more in the 905 area accounting for a 25 per cent market share

Condominiums are becoming more affordable than single-family homes and provide the best solution for first time buyers and Baby Boomers who want to live in their same neighbourhoods without the upkeep of a larger home.

Both  the Markham and Mississauga condominium sales are growing at a very fast rate. Markham is 40 times larger in sales since 1996 and Mississauga is 30 times as large.

Job growth has been ahead of the 416 area and more people are working and living in the same area. Spending less time commuting is a real time saver. Take a look at the Don Valley Parkway and the 404 Northbound on any weekday morning and you will see lots of traffic both South and North! 

In Markham’s new downtown over 9,500 residents will live in 175 new free-hold townhouses and 3,725 new Condos.

Honeywell is currently building a 3.7-million sq. ft. of office space that will employ 16,000 people in the new downtown Markham mixed-use site.

The first six condos released for sale in Markham sold out with purchasers waiting overnight in line showing the demand for condominium apartments in Markham.

Current Markham Condos can be found on my Toronto Real Estate website.

Toronto $15.8 Million Dollar Mansion

Toronto Forest Hill home sells for $15.8 million believed to be a new record selling price for a residential property in Toronto.

Situated on Dunvegan Rd, this home boasts eight bedrooms, 13 washrooms and an indoor six-car garage. It was the former home of George Eaton, founder of the Eaton’s department store chain.

With the new proposed unpopular Toronto City land transfer tax, the new buyers would have had to pay an extra $312,000 after Jan1/08 

This sale shows the current strength in the Toronto Real Estate market and we will continue to watch for new records in the Toronto home and condo market.