Condos have been front page news this week. REALTOR® Nick FitzGibbon helps make sense of the latest developments.
“The current state of the condo market has certainly shifted, with condos taking longer to sell and buyers having more options when shopping. With the number of condos for sale in the city slowly climbing over the past couple of months, it appears to be a ‘race to the bottom’ for these sellers to get their units sold,” he says. “On the other hand, any buyer looking to get into the condo market will have their pick of the litter and will be able to work with some flexible sellers on price.”
When a market shifts like this, and all things being equal between the condos, the only real difference will end up being price. Buyers can be comfortable offering lower offers knowing that they have a few options of similar products in these flooded markets.
“As a seller, being able to wait out the market, or hold the property until the inventory lessens and the number of buyers pick up can be your best strategy, but unfortunately this plan doesn’t always work for everyone’s life plans,” says FitzGibbon.
“If you are a downsizer looking to get into some great units, or a first time home buyer who has been hesitant to enter the condo market, now is certainly the time.”
502-7 Kay Crescent
502-7 Kay Crescent is a 2-bedroom, 1-bathroom condo in Guelph’s South End that offers 820 sq ft of living space. It includes parking, a quick closing and great views. This 5th-floor unit has a wonderful layout; the bedrooms are divided, making it ideal for a roommate or, if you work from home, separating work from play.
The condo features vinyl plank flooring throughout the living areas, stainless steel appliances, in-suite laundry and a quiet balcony.
The building offers a long list of amenities, including a gym, party room and study area.
You are within walking distance of restaurants, grocery stores, a movie theatre, shopping and banks, and the surrounding neighbourhood is family-friendly.
Because you’re in the South End of Guelph you have easy access to the 401, which is ideal for commuters and those heading to the cottage.
1103-1878 Gordon Street
1103-1878 Gordon Street is a 2-bedroom, 2-bathroom luxury condo in Gordon Square. It offers 1,124 sq ft of living space and comes with two parking spots and a large storage locker. Located on the 11 th floor, this corner unit has beautiful south-facing views and includes a lovely wrap-around balcony.
The condo features floor-to-ceiling windows throughout the living room, dining room and guest room; other great details include hardwood flooring throughout the living spaces, a high-end fireplace, heated bathroom floors and 12”x24” tiles in the kitchen and foyer.
The Barzotti kitchen features granite countertops and brand new stainless steel appliances.
The primary suite includes a 3-piece ensuite, a generously sized closet and is roomy, with more than enough space to fit a king bed and dressers.
When it comes to amenities, these are the best in the city. Enjoy the luxurious lobby, exercise room, guest suite, golf simulator, 12 th floor “Sky Lounge” and beautiful grounds.
71 Wyndham Street South
71 Wyndham Street South is where you’ll find Edgewater Condominiums.
Choose from a 2-bedroom plus den or a 3-bedroom layout, each with 2 bathrooms. Floor plan 3H offers 2,295 sq ft of living space, while 2KB offers 1,405. The condo and penthouse offer premier condominium living in a gorgeous 14-storey building in downtown Guelph.
You will love the designer kitchens, luxurious bathrooms and impeccable finishes throughout.
The building itself has so much to offer, from the party room and golf simulator, each with its own terrace, to the billiards room, library, gym and guest suites, you are sure to be comfortable and entertained here.
Located at the forks of the Speed and Eramosa Rivers, there are scenic views all around.