From a contagious virus to worldwide lockdown, 2020 will go down in history as a year unlike any other. However, throughout the chaos there have been moments of normalcy and silver linings: all giving us hope that things will eventually return to where they were pre-pandemic.
This past year has no doubt been an enormous shock to Toronto real estate, yet moments of resiliency have prevailed. Projects like 900 St.Clair West, have done exceptionally well during this uncertain time. Our Sales & Marketing team learned that the ability to allow for tweaking the design of suites to suit a post-COVID-19 world, and offering customization and modifications to existing designs, has made a world of difference selling to purchasers looking for larger suites. Our team at 900 St.Clair broke records during this unprecedented time! During the start of COVID we sold a $2.1 million suite, which was the most expensive condo sold in the area at the time (1.25KM radius) per Toronto MLS. As the pandemic continued, we broke our own record twice: with a suite sold for $3 million, and most recently, a $4.5 million suite- the 9th highest transaction in the city and the largest outside of Yorkville according to MLS.
The project’s unique offering of combo suites of over 1000 sqft. combined with the developer’s openness to customizations have given them a very unique positioning in an unsteady market; leading to much success during this unprecedented time. Our sales team has recognized that the trend of right-sizing vs. downsizing is likely to become more important in a post-pandemic world. As we all spend more time indoors during the pandemic, it has opened purchasers’ eyes to exactly what they want and need in their home. Success for pre-construction condominiums over the next few months lies in the developers’ willingness to work with buyers looking at larger suites to make certain changes that they could not find in a typical resale condominium. With larger condominiums in short supply in Toronto and buyers looking to move from other housing types to a new condominium, those developers who allow for more flexibility in the end will come out the winners during this period.
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