During the occupancy period owners were unable to list their units for sale on MLS. The incorporation of The Mondrian is already impacting prices in the downtown condo market with 4 units listed last week, all of which sold over the past weekend. I myself represented one of these units, which sold after more than 30 visits, more than a dozen direct calls and multiple offers.
If there was any idea that Ottawa's condo market might be slowing down, then resale activity in The Mondrian puts this to rest. A few observations:
- The 1-bedroom condo market isn't hot, it's on fire
- It's only January but buyers are already out in droves, most with mortgage pre-approvals in hand
- The Mondrian's mix of location, low condo fees and amenities—particularly the concierge, terrace and fireplace lounge with billiards & bar—is proving to be a huge hit with urbanites
- Buyers looking on their own will find that the most desirable 1-bedroom condos downtown are sold by the time the listing agent returns their call