Here is the information you need to get an idea of what is happening in Condos and Townhomes in Etobicoke.
Etobicoke is divided into 5 districts starting at Lake Ontario all the way up to Steeles Avenue. They number as W6,7,8,9 and 10. I have maps on my newsletter at the home site to show you the borders of each district.

W6 stats from the Lake and goes north to the QEW.
The market is divided into three categories that are the types of Condos. Agents list them as Condo apartments, Condo Townhomes and Freeholds (not a Condo) but similar in concept. The difference between these Condos and freeholds lies in the Maintenance fees and the Insurance premiums primarily.

I have found is that maintenance fees must be voted on by the board of directors and then the owners must ratify any increase. Normally, maintenance fees would only go up by 1 to 5% at about the most.
With the newer complexes they are fixed for the first 3 years and then escalate very slowly. The status certificate is a document that shows current and future budgets and will indicate any potential increase in maintenance fees over the next year and sometimes longer. Just depends on the range of the future budget.
Low maintenance fees would be in the range of about $90 to $175. I would think that higher maintenance fees are in the range of $250 and up. There are many complexes in Etobicoke and surrounding areas that have low maintenance fees.
Also, the maintenance fee covers grass cutting, snow shoveling, garbage removal, common area lighting etc. Most important it covers your building insurance. Thus, you require less property insurance as you only need to insure your contents. I would say that you would save about $200 from your insurance premium in a condo townhouse versus a freehold townhouse, maybe more.

 
Now in W07 15 Condo Apartment sold , 6 1bed, 8 2bed and 1 3bed for an average sold price of $330,167. On average it took 40 days to sell them.
1 Condo Townhouses Sold 1 3 bedroom for $310,000 taking 114 DOM(days on market).
5 freeholds sold all five were 3 bedrooms averaging a sold price of  477,400. DOM 34.

If you have any questions or comments please feel free to contact me. If you would like this information on your area or district in Etobicoke please reply and I will send it to you. How's that?

 
This post has been included in Ontario Information York County, ON Information Etobicoke, ON Information
Post is included in group: Toronto (Canada) Real Estate
Post is included in group: RE/MAX Active Rain Bloggers

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Kathy Gordon

Toronto, ON

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REMAX Professionals Inc.

Office Phone: (416) 236-1241

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