High-rise Arrives in Low-rise Territory

No longer restricted to downtown.

Something different is happening.

As I wrote in my previous blog post, the Toronto condo market is the hottest in North America (and one of the hottest in the world).

What many people don’t realize is that more condos are now being sold (and, soon, built) in the 905 area. As supply and affordability of low-rise housing in this region are eroded, sales of condos there have been increasing (particularly in Oakville, Markham, and Vaughan).

In fact, 905 is now outselling 416, with sales in the 905 eclipsing the 416 numbers at a ratio of 59 to 41.

This is understandable. Why wouldn’t you buy a condo in the place where you can get the most bang for you buck, especially if you already work in the area, which would save you a painful commute downtown?

This trend isn’t just a first in my career — it’s also good news for my company BAM Builder Advertising & Marketing. We may have mostly dealt with low-rise builders in the past, but we know the 905 area like no 416 marketer does.

Moreover, we have a long history, in the manner of most condo marketers, of selling emotion and lifestyle and dreams and life memories, rather than features and floorplans.

These are what sell homes. And now that high-rise has arrived in our backyard, we intend on making the most of it.

Now it’s your turn: how is this new trend affecting your business? I’d love to hear from you!

 

1 Comment (+add yours?)

  1. Trackback: Has Toronto Sold Too Many Condos Already? « JohnAmardeil.com

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