Urbanation Reports New Condo Records

Urbanation released their Q2-2011 Toronto CMA condominium market overview.  The market has gained new ground with some very impressive records.

- Q2-2011 sets the new quarterly record in new condo sales: 9,455 new condos sold.  The previous record high is 6,997 units set in Q2-2007. (+35%)

- 24,731 new condos were sold over the past 12 months.  This beats Q4-2007 record of  22,654 units. (+9%)

- 39,196 condos,153 projects, are under construction in Toronto CMA in Q2-2011.

- Only 16% of 78,142 units of 306 active condo projects were unsold at the end of Q2.  It is a record low.

- In Q2-2011. there were 44 new project launches introducing 9,182 units to the market.

- The new condo index price in Toronto CMA went from $529 psf in Q2-2010 to $552 psf in Q2.  (+4.3%)

- The condo resale index price of Q2-2011 is $391 psf as opposed to $370 a year ago.  (+5.7%)

- Rental index saw +5.5% improvement in the past 12 months.

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