This news story highlights the difficulties sellers faced in the Toronto condo market last year. Despite a well-located and appealing unit, the seller had to significantly reduce the price to attract a buyer. The story also emphasizes the importance of market awareness and strategic pricing in real estate.
This three-bedroom condo unit, located in a boutique building on Yonge Street , originally faced challenges attracting buyers. Despite its roughly 1,400 square feet of living space, featuring hardwood flooring, windows throughout, including in the west-facing kitchen, and balconies on both the south and primary bedroom, it experienced a lack of interest initially. To entice buyers, the seller made a significant price reduction of $255,000.
Within a week of the price adjustment, a new visitor signed a deal at the lowered price point. This experience reflects the challenging market conditions for condo sales in the previous year, according to agent Dino Capocci, who has 25+ years of experience in the industry. The unit boasts a timeless design, a south-facing balcony opening into the dining area, a Juliet balcony off the primary bedroom, a walk-in closet, and one of the two full bathrooms. Additional perks include a storage locker, parking, and monthly fees of $1,803 that cover utilities, concierge services, and access to recreational facilities. One Balmoral, the building's location, offers various advantages, including unobstructed west views overlooking residences, south views of the Toronto skyline, a beautiful marble-tiled foyer, and a pleasant courtyard. Its proximity to Yonge Street, the St. Clair subway station, and a highly regarded school district further enhances its appeal
Toronto Condos Real Estate Market Pricing Yonge Street St Clair Subway School Catchment
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