Toronto Condo sales have returned to more normal levels as Canada feels the effects of a so-far-mild slowdown according to the Condominium research company Urbanation.

• New Condo projects in the Toronto region remain stable
• 3,992 new Condominiums sold in 287 Condo projects in the 3rd quarter 2008
• 16,000 Condo units are projected to be sold by the end of 2008
• 15 new Condominium projects opened in Q3/08 with sales strong with 47 per cent of the units sold
• 24 new Condo projects to open in Q4/08
• Condo prices at $406.00 per square foot up 2.5 per cent from the previous quarter
• Toronto Condo Market still driven by continuing migration into the city, financially sound buyer population, affordable pricing and low interest rates

The Toronto Condo market in 2008 will still show some of the momentum from 2007 a record year however the last several months of decline in sales and prices will temper the outcome.