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Reblog: Urbanation's Toronto Condominium Apartment Market for Q3-2012

Posted by Roman Bodnarchuk on Fri, Nov 02, 2012 @ 14:11 PM

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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.
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.

Topics: condo investment, condo investments, condo marketing, condo development news, condo development news Toronto, condo development Toronto, condominium, market, report, q3, real estate, toronto, condo, condo news, condo market, urbanation

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