Urbanation provides summary of the 2nd Quarter Condo Market for Toronto

Darryl Mitchell
Managing Broker
RE/MAX Professionals Inc. Brokerage

Cell 289-937-0367
Office 416-236-1241
dmitchell@remaxprofessionals.ca

Begin forwarded message:

> From: Pauline Lierman
> Date: 4 August, 2010 12:20:40 PM EDT
> To: undisclosed-recipients: ;
> Subject: Urbanation Press Release Q2-2010
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> Please find attached (in PDF format) Urbanation’s latest Press Release on the Q2-2010 condominium apartment market in the Toronto CMA.
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> 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.
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> 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.
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> 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.
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> 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.
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> Urbanation publishes their “Condominium Market Survey” quarterly, see details below:
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> 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.
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> 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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> Don’t forget to follow us on Twitter for all the FREE market info you can handle!
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> Pauline Lierman
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> Research Analyst
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> URBANATION Inc.
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> 10 Price St, Suite 200, Toronto, ON M4W 1Z4 T: 416.922.2200 ext.211 F: 416.366.9028 W: www.urbanation.ca / www.twitter.com/urbanation
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> PROVIDING MARKET RESEARCH, ANALYSIS AND CONSULTING SERVICES TO THE CONDOMINIUM INDUSTRY SINCE 1981.
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