Canadian condo buyers are turning to the Internet in droves to help with their search for the perfect home. According to Statistics Canada, 9 in 10 Canadian home buyers start their search online.
Many first-time Canadian home-buyers are buying new condos instead of houses. In fact, according to Urbanation, February of this year marked the second highest new condo sales record in Canada’s history (following February 2002) with 2,002 units sold in one month alone.
Toronto-based startup TheRedPin.com has developed a solution to help Canadians refine their search for their new condo online. Rokham Sadeghnezhadfard, founder and COO of TheRedPin says that “with the power of Internet, people want transparency, are demanding more information and like to do the research themselves. Our goal at TheRedPin.com is to do exactly that by providing full project info such as over 30,000 new condo floor plans, amenities, finishes and more.”
TheRedPin enhances every new condo project listing on their website with real estate stats from the past 10 years including ratings and rankings of all daycares and schools nearby and information about local amenities.
Sadeghnezhadfard explained to me that until a year ago, new condo builders had to use traditional media sources to market new condos. That’s because the most popular Canadian real estate listing website, MLS has traditionally catered to the re-sale market – which is now being outpaced by new condos.
TheRedPin saw the need for bringing all of the information required to make a new condo purchase decision under one umbrella online.
One of the website’s best assets is their powerful search tool which enables new condo buyers to search for their “magic address” which returns results for anything related to your desired intersection, postal code, neighbourhood name, and popular condo builders.
TheRedPin’s search engine helps all interested groups to find what they are looking for – such as first-time home buyers, investors (local and international), wealthy families who prefer the luxury lifestyle of a new condo and down-sizers (primarily older Canadians whose children no longer live with them).
It seems as though Toronto is especially hot for searches on TheRedPin.com for new condo information. The company shared some of the stats about the most popular searches on their website. As of last week:
Most popular cities searched on TheRedPin are:
- North York
Popular searched locations on TheRedPin for Toronto are:
- Liberty Village
- North York
Popular projects viewed on TheRedPin for Toronto are:
- Minto 775
- 12 Degrees
- Neon condos
Popular Toronto development areas at the moment:
- King West
- North York
- The (905) areas such as Mississauga, Brampton
TheRedPin recently won a North American Honourable Award for best real estate portal. The website boasts a high number of VIP event listings, a large Facebook fan base, and an informational blog - TheRedPin Pulse which features content from professional mortgage brokers, interior designers, real estate lawyers, transit builders and gossip contributors.
There are other popular condo real estate sites out there like BuzzBuzzHome.com, which we featured a few weeks ago on Techvibes. If you’re in the market for a new condo, what are some of the Canadian websites (other than Google, MLS and Zoocasa) that you are turning to for information?