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Strata.ca — Your Guide to the Condo Market
Condos for Sale in Toronto
Finding the perfect Toronto condo for sale can be a tricky, yet exciting process, whether prospective condo buyers are in search of a new home or an investment they can turn into a rental property.
The first step to purchasing a condo is simple — and it doesn’t involve online searches, home visits, or meetings with your Realtor. Rather, prospective buyers should start by sitting down with a pen and paper (or a laptop or iPad) and make a list of the things they simply can’t live without.
It also helps to jot down features that are an added bonus, but that you can live without (your “wish list”). Some don’t want to have to renovate, for example, while other buyers would rather opt for a less expensive condo and put the money saved into upgrades that perfectly match their taste.
For many buyers, this wish list will include building amenities, such as a gym, party room or pool. Thankfully, many condos for sale in Toronto — both new and old — are equipped with plenty of amenities.
As for those who are already loyal to a neighbourhood gym, or for ultra-busy buyers who don’t plan to spend much time in the building at all, there’s always the option to seek out a building with few amenities. No-frills condos tend to have lower monthly maintenance fees (although not significantly lower), meaning the fewer perks the less you’ll pay, and vice versa.
Contact one of our agents if you’re looking for any recommendations. We’re quite familiar with all of the condos in Toronto.
Selling a Condo in Toronto
At Strata we take presentation very seriously — so much so that we stage the majority of the condos we list. Staging a property not only excites prospective buyers, but helps them actually see themselves living in the space.
We also do our due diligence in maximizing exposure for our condo listings. In addition to featuring your listing on Strata.ca’s homepage, which receives approximately 30,000 unique page views per day, our listings are also featured on MLS, Realtor.ca, as well as a global listing platform geared toward investors abroad.
Last but not least, we leverage data when selling condos, just as we do when helping clients search for homes. Our data guides us in determining the optimal list price, date and strategy.
Condos for Rent in Toronto
Scouring the internet for Toronto condos for rent can be an arduous experience. At times, the market’s so competitive that the process can feel like a game of whack-a-mole, with units disappearing soon after being listed. On the flip side, some condo buildings are listing dozens of units at a time, causing prospective renters to question whether a building has some sort of deficiency.
What many renters don’t realize is that they can hire an agent to aid them in their hunt for a new condo rental, at no cost. Agents are paid by landlords, thus, renters can take advantage of our services and enjoy the search, instead of dealing with the hassle.
As condo specialists, we have intimate knowledge of the Toronto condo market and the data to back it up. Whether it’s an industrial loft in King West that interests you, or an affordable home somewhere near your place of work — we can match you to the neighbourhood, building, and unit that best suits your criteria.
The Toronto Loft Market
Toronto is a city that thrives on innovation, and though much of the cities’ architecture and design could be considered ahead of the curve, there’s one popular and highly unorthodox home that we cannot claim as our own; the hard loft.
While artists have been squatting in New York City warehouses since the 1940s, it wasn’t until the 90s that developers all over the world would take advantage of disused industrial buildings by converting them into homes — and that Toronto lofts would start to appear. And with industry formerly centred in the city’s downtown core, local developers have had plenty of opportunities to transform defunct factories and warehouses into Toronto lofts for sale.
Toronto’s loft obsession began with Imperial Lofts in 1998 and the much heralded Candy Factory in 1999. Unlike the warehouses of New York in the 1940s, the popularity of this distinct unit type had propelled prices beyond what any starving artist could afford; a trend that has continued over the past two decades, as even the most affordable Toronto lofts for sale exceed the average cost of a condo.
Toronto lofts now have a devout cult following — and for good reason. Residents who are after condos for sale or rent in Toronto with a combination of historical charm and unique living spaces are delighted by elements like the oversized arched doorways at the Argyle Lofts, which once served as loading docks for horse-drawn bread wagons, and the preserved stained glass that adorns the former church at 701 Dovercourt Road.
Popular Toronto Condo Neighbourhoods
While we must admit choosing a neighbourhood is an extremely subjective act, there are some spots in Toronto that happen to attract more attention than others. Not only are these areas brimming with in-demand residential buildings, but they’re also packed with trendy shops, atmospheric restaurants, and bustling entertainment venues.
For the ritziest condos for sale, prospective buyers can look no further than the Yorkville neighbourhood. Here, residential buildings are situated steps from luxury boutiques like Gucci and Chanel. Better yet, some of the most exclusive condos in Yorkville are affiliated with renowned luxury hotels, such as the Four Seasons Private Residences.
Then there’s Queen West, a neighbourhood that’s about as cool as Toronto gets. Don’t believe us? Vogue magazine went so far as to name this spot the second coolest neighbourhood in the world back in 2014. Covering the area just north and south of Queen Street, and stretching from University all the way to Dovercourt, this neighbourhood is far from saturated with high-rise towers. Rather, Queen West is a great place to look for unique homes like Toronto lofts and contemporary townhomes. The Chocolate Company Lofts is a prime example of an authentic loft conversion that’s beloved for its original posts and beams, 12-foot ceilings, and swathes of warehouse-style windows.
The city is full of neighbourhoods with very different communities and reputable condo developments. Some of the most popular include the St. Lawrence Market, Distillery District, King West, The Annex, The Village and Bloor/Yorkville. For insights or recommendations on any of these neighbourhoods, contact us and we’d be happy to recommend some listings for sale or rent.
A Historical Overview of the Toronto Condo Market
It’s hard to imagine a Toronto devoid of condos, especially with shiny new towers now popping up at an astounding pace. The truth of the matter is, though, that Toronto was hardly home to any condos at all until the 1960s.
As the rising prices of single-family homes began to exclude Torontonians from the prospect of home ownership, the government took matters into its own hands by subsidizing the construction of condos for sale in Toronto. By the end of the 1960’s, Toronto’s residential landscape had been altered for good — as had its skyline.
Sure enough, the rapid change eventually became too much for the city to handle, and a two-year moratorium was placed on the construction of high rises beginning in 1973. Once the two years were up, developers simply picked up where they left off, only for yet another upswing in condo buildings to occur in the 1980s. This boom resulted in the creation of 30,000 additional Toronto condos for sale throughout the decade, and consequently a larger pool of condos rental units Toronto.
Yet the 1980s merely marked the beginning of a steadily increasing rate of condo construction in the city. By the time the 21st century rolled around, the number of new condos created per decade had more than tripled: over 100,000 condo suites were added to the market between 2000 and 2010, with another 100,000 built the following decade. Whether locals like it or not, Toronto is growing denser each day, with over 10 million residents expected in the GTA by 2046. The housing market has had no choice but to keep up.
After a decade working in the Toronto condo market as a broker, Robert Van Rhijn grew frustrated with the lack of transparency provided to buyers and sellers, and sought a means to remedy the situation. The solution: He teamed up with a data scientist and a team of web developers to build Strata.ca — a condo listing platform saturated with in-depth data and analytics on both condo buildings and insectionidual listings for sale and rent in the Toronto condo market.
With the back-end complete, Robert has been assembling a growing team of agents who use the data in harmony with their expert knowledge of the condo market. While Strata.ca enables users to stay up-to-date on market conditions and building trends, it helps to have a seasoned professional at your side who is dedicated to the condo market and can interpret the data for you.
If you’re looking for assistance in the condo market, contact us and you’ll understand very quickly what makes us different from other agents. We always go at our clients pace, speak in terms of ‘pros and cons’ and our advice is always informed by a combination of our personal market knowledge and the data.