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Old Posted Feb 2, 2021, 7:07 PM
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MonkeyRonin MonkeyRonin is offline
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Join Date: Sep 2006
Location: Toronto
Posts: 8,214
Quote:
Originally Posted by Steely Dan View Post
the bolded does appear to be the general trend during the pandemic, but i monitor the value of our condo on the online estimator websites, and taking the median estimate from zillow, trulia, and redfin, our condo is allegedly up ~8% from last march according to them, which i find surprising. (i realize that 8% YOY is somewhat paltry for our urban-darling coastal city dwellers, but in stagnant-ass chicago during a global fucking pandemic, you'll take that all day long.)

it helps that our condo is pretty damn big by city standards (3 bed 3 bath, 2,300 SF), and from what i've heard from realtor friends is that available inventory of larger homes is so damn low in the city at the moment that anything with a 3rd or 4th bedroom or a den or bonus room (even if it's a condo) has been getting snatched up by those seeking to upsize for a dedicated home office.

Given the size & ground-orientation of your place I wouldn't be surprised if it's gained value.

Condo prices in Toronto have stagnated or even declined through the pandemic; but when you look at the numbers a bit closer, it's mostly the tiny 1-bedrooms and studios in cheapo investor-driven buildings that have declined, pulling the average down. Anything 2-bedroom or above or otherwise generously sized & well-appointed has continued to climb in value.
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