Urbanation tracks the entire Toronto CMA condominium market—new, resale and future development—providing detailed analysis of sales, pricing and potential new projects on a quarterly basis.
Sales activity in the Toronto CMA condominium apartment market eased in Q2-2010 with 4,991 sales, an 8% decline over the first quarter, the first time since 1994 that Q1 sales have been higher than in Q2. Despite the quarterly decline the market over the past 12 months has sold 21,318 units, comparable to the 22,654 sales that occurred in record-breaking 2007. 272 projects were active across the Toronto CMA in Q2-2010.
The resale condominium apartment market set a market first in Q2-2010 with resales exceeding 5,000 units. The 5,076 resales in the Toronto CMA in Q2-2010 was yet another record high for existing condominium apartment sales, an increase of 18% over Q1-2010.
A record number of resale listings leading at the end of the first quarter, at 10,997 listings, were instrumental in stabilizing pricing in the resale market in the second quarter, when the average resale unit sold for $370 psf, a $1 psf increase over Q1-2010. Strong demand absorbed much of the record supply levels as listings declined 21% in Q2-2010 to 8,714 units. The flush supply conditions met the increased demand for resale units in Q2-2010 while allowing buyers greater choice and pricing stability. Annual price inflation for the resale market; however, remains 13% higher than in Q2-2009, when the average resale unit sold for $326 psf.
Urbanation publishes their “Condominium Market Survey” quarterly, see details below:
A subscription to Urbanation ($8,300 annually) includes 1 quarterly hard copy report (4 annually); the 400 page document includes: 15+ pages of analysis, 20+ pages of resale info, 25+ pages on future condominium projects (from application to launch), and 250+ profile pages on new condominium projects. All the data in the hard copy is available online and can be accessed via convenient searches. Urbanation also sends out “UrbanAction reports” which are emailed between the quarters and highlight newly launched projects. Urbanation also does 1 yearly market presentation at your office, summarizing the conditions of the condominium apartment market.
Contact myself, or Ben Myers, Urbanation Executive Vice-President and Editor, today for more info on Urbanation’s products and services.
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