Google+ FANNY LEE & THE TEAM :Own Homes. Grow Wealth. Pass It On.: New Condos Market - Aug. 2011

Sunday, October 16, 2011

New Condos Market - Aug. 2011

If you are a friend of my Facebook, it is not news that we share new condo sales data periodically.  RealNet is the data source.  The August 2011 statistic has become available.

This Aug. is the best Aug. in the last 12 years (the whole Chinese zodiac cycle).  2,011 new GTA high rises were sold.  That is +105% of last August.  We see 18,055 condos sales in the first 8 months.  It is the best performing Jan.-Aug. in the record.  If the trend goes on, 2011 could make new milestone.

Based on the chart above, you can see the remaining inventory (supplies) is at the lowest since 2007.  You also know that 1 Bedroom + Den condo is the configuration with the most sales.

The average GTA new condo price was $580 per sq.ft., +8% from Aug. 2010.  Among 20 GTA submarkets, Bloor - Yonge new condos fetch the highest price, followed by Downtown Core, Yonge - St Clair, Central Waterfront and North Toronto ... etc.  (refer to the chart on the right)

We will make an effort to keep you abreast of the GTA new condo market here.  Should be interested in getting the latest new condo news, write us with your email address, we will include you in the notification list.

GTA is going urban.

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