A third quarter market overview of the sale and price of new Toronto Condos was released by Urbanation Inc. this month.
There were 3,805 new Condominium units sold, an 18 percent decline from Q3-2009. However, the Toronto CMA condominium apartment market is on track for the second highest annual sales total on record.
There were 275 active Condo projects on the market selling at an average $462 per square foot, unsold Condo units were offered for $520 per square foot.
Demand for new projects were slowing perhaps because the average Toronto resale Condominium was selling for $372 per square foot in the 3rd quarter.
The 3,646 resale condominium transactions in Q3-2010 were down 25 percent year-over-year, and 28 percent from the 5,076 resales in Q2-2010, the highest quarterly total in CMA history.
The new Toronto Condominium Market remains on pace to be one of the strongest ever.
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