Urbanation, the authoritative source on the Toronto condominium market reports a strong new condo market in Toronto.The amazing turnaround in the new condominium market in the second half of the year culminated in 6,295 new sales in Q4-2009. The 14,792 sales in 2009 were a 2% increase over 2008! Urbanation is expecting as many as 20,000 new units to come to market in 2010, and is forecasting 19,000 sales.
The 4,215 resale transactions in Q4-2009 was the highest fourth quarter total on record, and double the Q4-2008 resale volume. The 16,147 resales in 2009 were a annual high for the Toronto CMA. With a record high sales-to-listings ratio of 69% in Q4-2009, the market should not have any trouble absorbing the close to 19,000 new units scheduled to occupy in 2010.
Urbanation publishes their “Condominium Market Survey” quarterly. You can check out Urbanation at their web site: http://www.urbanation.ca/
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