New Home sales for Toronto and Area are up for October according to the Building,Industry And Land Development Association in their recent report.

Most of the increase of 4,535 units sold was due to continued Condominium sales showing investors are still involved in the Toronto Condos market.

One of the main reasons that the Condo market still has strength is that they are just so affordable, compared to the average price of single-detached homes, a $75,000 difference.

It appears the new Toronto Condo market will give up gains to the Toronto resale Condo market in 2011 because of the large number of new Condo projects to be completed.