New Condominium sales in the Greater Toronto Area  recorded strong sales on par with last year's record pace according to the Building Industry and Land Development Association.

Seven out of ten homes sold in October were Condominiums, an increase of 27 per cent. Toronto accounted for 76 per cent of these new Condominiums sales, but the 905 area had large percentage spikes as well.

The new Condominium market is increasing at the expense of the more expensive low rise homes and this trend is expected to continue. 

The average new Condominium price was $424,327 compared to the average new low-rise price of $500,532.