Wowza, the situation in the under $200K condo market is officially EXTINCT!

Last night I helped a client bid on a studio loft at 24 Noble... which until yesterday, was still one of the undervalued buildings in the city.  Of course, I love lofts, I love the building and I love undervalued properties in up and coming areas... hence, I already snached up an identical unit there last year and renovated it back up to snuff.  At the time, I thought I had competely overpaid for the place since I had to bid for it too and set a record price for this unit in an unrenovated state.

Anyway, back to the situation at hand... the loft was listed at $189,900 and it came with first come, first served shared parking potential.  Not a bad deal considering it's a real, genuine, hard loft and it's right next to two TTC lines at Dufferin & Queen.  

 

There ended up being 4 offers all together on offer night and that little condo that sold for less than $180K just last year, sold for $215,000 with no conditions!  Holy, moly!!!  Good for me I suppose, but my poor client... I'm afraid that he might have just gotten priced out of the market!