Shortage of large condos helps in sale of three-bedroom unit in Yorkville

A shortage of spacious condominiums in Toronto's Yorkville neighborhood has led to a swift sale of a three-bedroom unit, highlighting the growing demand for larger urban living spaces.

The 1,965-square-foot condo, featuring three bedrooms and a den, was listed for $2.95 million. It sold in just over a week, reflecting the scarcity of sizable units in the area. The property attracted multiple offers, underscoring buyers' eagerness for more room in the city.

Real estate experts note that many new condo developments prioritize smaller units, leaving a gap in the market for families and individuals seeking more space. This trend has made existing large condos, like the one sold in Yorkville, highly sought after.

The unit's appeal was further enhanced by its location in a boutique building, offering amenities such as concierge services and private elevators. Its design included a spacious living area, modern kitchen, and multiple balconies, catering to those desiring both comfort and luxury.

Buyers are increasingly looking for properties that provide the convenience of city living without sacrificing space. The quick sale of this Yorkville condo indicates a shift in urban housing preferences, with larger units becoming more valuable.

As Toronto's real estate market continues to evolve, the demand for spacious condominiums is expected to rise. Developers and investors may need to adjust their strategies to meet the needs of buyers seeking larger, more accommodating urban homes.