Even if it's your marketing that counts most, it's still neat to know what's up with the condo market. A recent report from Urbanation shed some light on that:
Urbanation’s Toronto Condominium Apartment Market for Q3-2012 in PDF format or click here to see it online.
- Through nine months in the Toronto CMA new condominium apartment market, there were 14,156 sales, with the market on pace for a 35% decline from the record selling 2011 result (28,190 new sales). The 3,317 third quarter sales were down 30% from Q1-2012, and 47% from Q3-2011.
- Unsold inventory decreased 5.2% quarterly in the CMA from a record high in Q2-2012 to 17,182 units in the third quarter. 80% of the 86,108 active units were sold at the end of Q3-2012, which remains above the 10-year average of 78%.
- The number of units under construction in the CMA set another market high at 56,336 units in 207 projects, with 89% of those units sold by the end of Q3-2012.
- The average sold index price increased in Q3-2012 to $530 psf in the Toronto CMA, an increase of 6.8% annually. The unsold index price also increased to $573 psf in the Toronto CMA, an increase of 2.0% annually.
- The resale condominium apartment market in the Toronto CMA realized 3,413 transactions in Q3-2012, down in comparison to both Q2-2012 (5,050) and Q3-2011 (4,400). The average resale index price remained flat in comparison to the second quarter at $407 psf.
