Riding the real estate rocket

In a city where real estate agents will camp out for 24 hours to stake a claim in the latest and greatest new condo developments - as many recently did for Toronto's much-murmured- about Beyond the Sea condo project - real estate trends are worth paying attention to. Toronto's property market is thriving, and with the summer's latest record-breaking sales, there is no sign of things cooling down.

The Toronto Real Estate Board (TREB) declared June 2007 to be the best-selling ever in the board's history, with a 20% increase versus 2006. July, too, threatened to be a record-breaking month: "Overall sales in the month of July were up 21% mid-month," explains Lizanne Bertrand, a sales representative for Chestnut Park, "and in the year to date, the market is up 12%." Toronto seems to be in a buying frenzy - and there is no shortage of property available to keep avid home-seekers happy. So where are buyers to look if they want to get their hands on a piece of Toronto's real estate market?

As far as up and coming neighbourhoods go, one area to check out is Leslieville. Halina Alexander, a broker with Royal LePage, and Susan Bodie of Bosley, both mention Leslieville as one of Toronto's areas to watch. "It's attracting a lot of new businesses, restaurants, and coffee shops. One reason is because of the film industry down there," Bodie explains. She also adds that many young professionals are able to purchase affordable property, and then make renovations.

While developing areas such as the Leslieville locale attract more entry-level buyers, the Yonge Street corridor also remains appealing to many buyers. Bodie notes that places in the Davisville neighbourhood, as well as those near Yonge and Eglinton, are great because they provide easy access to public transportation and usually have schools close by (a big concern for parents or parents-to-be).

Another option that consistently attracts buyers of all kinds is condos, which can accommodate many income levels. "Condos work for everybody," explains Bodie, "for new immigrants, for those who are downsizing, for young professionals... There isn't really any demographic that condos are not attractive for." While a condo's cost varies depending on its surroundings, you will generally get a better bang for your buck. "Condos offer a great alternative to buyers wishing to live in the core of the city, but not wanting to pay the price of a house," agrees Bertrand.

Friendlier prices aren't the only reason Torontonians are clamoring for condos. Alexander  points out that the "greening" of condos - including environmentally friendly cooling systems, hydro efficient setups, and garden rooftops - is a trend that eco-friendly consumers are embracing.

Whatever type of property you are considering, whether you're a first-time buyer or a seasoned home-owner, Toronto has a plethora of options available. Still, a competitive housing market can be frustrating."It can take as many as six bids to get something," explains Bodie, "but you have to be patient and know that there will be something for you. "Those who find Toronto's rocketing real estate market daunting need not be so intimidated. The options are plenty, and armed with a good agent, patience, and a little trust, you can find a home to accommodate your lifestyle - and salary - in the Toronto