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North York New Condos for Sale
Why Should You Invest In North York Real Estate?
Currently the area is appealing to a soaring body of residences. There are currently over 800 condominiums for sale and for rent in the area. Anyone who lives in the city knows that North York consists of many municipalities. There are many facets of North York that make up its appeal. Although it shares identical characteristics to other boroughs, there are a few traits that define and distinguish North York.
It’s motto being, “Progress with Economy”, it simply is one of the fastest growing areas of the region, due to its close proximity to Old Toronto, therefore becoming its own metropolitan centre.
Houses in the neighbourhood are highly distinguishable and contribute greatly to the professed affluence of the area. 50% of occupied dwellings are single detached homes. Many have been rebuilt and customized to one’s decorum and expression.
Property values have increased greatly by 47.6%. The second type of most occupied dwelling are apartments reaching five or more storeys, inhabited by 28% of the population.
It has a booming economy and a relatively low unemployment rate. A $300-million project is expected to create an estimated 300 jobs and bring a new hotel, the possibilities of it being a four star Marriott, to the intersection of Yonge and York Mills located next to York Mills Station. A commuter parking lot which had sold for twenty-five million will be converted into several new developments of new constructed condominiums and retail space, adding to its bustling thoroughfare. North York General Hospital, Humber River Regional Hospital and the Sunnybrook Health Sciences Centre.are major hospitals within its district.
Average Price of Condos in North York
The average price of a resale condominium apartment for North York in 2017 was around $531,877 – up 28.20 per cent compared to 2016.
The average index selling price for pre-construction condos continues to grow, rising 16% to 19% from a year ago to $620 psf. The average selling price rose annually to $489,000.
City of North York
North York is one of the municipalities that was amalgamated to become part of the Toronto mega-city which, in turn became a city within a city. It was initially known as a regional cultivation core composed of dispersed communities. It is bordered by Finch Ave. to the north, Victoria Park to the East, West to Keele St. and south to Lawrence Ave.
It begun as an assembly of unique independent neighbourhoods, known as one of the most diverse areas. The neighbourhood may have an urban feel to it, made up of narrow residential streets and wide boulevards. It houses some of the most prestigious expanse with a mix of noticeable wealth, but also to some of the poorest and everything in between.
Almost half of the city's population represent visible minorities, it has approximately 655,913 people occupying its borders. With many new high-density condos being developed and sold within its boundaries, it will account for an influx of its populace.The neighbourhood is also notorious for its high levels of income. The average household income is $71,726.
Many of the community's businesses are in the corporate sectors, manufacturing and or product distribution. North York City Centre, is its central business district and has since been a secondary economic hub outside downtown Toronto.
There are numerous national corporate headquarters situated in North York, especially along the Yonge Street corridor, but as well as in the east side in the Don Mills area. The North York Civic Centre was the home of North York City Council and is now handled by the City of Toronto for community council and other city departments commissioning the surrounding region.
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Accessibility / Getting Around
There are several options in detouring its vast radius, via easy access to the major highway corridors, broad roads, the subway system and buses that may run twenty-four hours on certain major routes.
The section of Highway 401 which cuts across North York is the busiest section of freeway in North America, There are approximately 400,000 commuters per day. Finch station, on the Yonge–University line, is the busiest TTC bus station and the sixth busiest subway station, serving around 97,460 people daily. The Sheppard Subway is entirely in North York, averaging around 55,000 riders per day.
North York houses a few acclaimed shopping malls, which are Fairview Mall, Yorkdale Shopping Centre, Sheppard Plaza, the Don Mills Centre, Black Creek Pioneer Village, which is an authentic 19th century heritage village, Toronto Centre for the Arts, the Ontario Science Centre, which boasts over 800 scientific exhibits and the Aga Khan Museum. All of which are accessible by taking the better way, the TTC.
Although with all these new developments, the area is still immersed in natural green spaces, dells and brooks that run along the Don River. Its most known for its large spectrum of parks and trails. The urban forest adds allure to the scenery. It also is a welcome refuge from the hustle and bustle of city living.
Come discover the natural beauty of the deep, cool running streams, creeks and tree lined valleys, making the North York one of the most ideal and desired places to call home.
List of New Condos in North York
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Questions & Answers
Is there a difference between Platinum Agents and Regular Agents?
Yes, Platinum Agents have a Sales history with the developer and a proven track record. The Platinum Agent has built a strong relationship with the developer and will be recognized for their efforts. The Regular agent will have the opportunity to sell. It would just be at a later stage in the sales process.
Will I get a better price if I buy from the Developer directly?
Unless you are purchasing at the friends and family stage of the sales process you will not have the opportunity to purchase before the Platinum Stage of Sales. The Developer respects and appreciates the Platinum Agent and would refrain to jeopardize the relationship with the Platinum Agent. The public will get an opportunity to buy directly from the developer but certain incentives will be removed and prices will usually be increased. Read more about VIP Platinum Access.
What is a 10 day Cooling off period?
As outlined in condo governing legislation, buyers have the option to withdraw their offer without penalty within 10 days of when the buyer receives the disclosure statement OR the date they received a signed copy of the contract. It applies to most newly built condominium homes.
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