Toronto Condo Prices are continuing to to stay in balance despite new inventory coming on to the market. Broad factors have gone unchanged so far in 2007 with key indicators remaining the same.
The choice of Toronto Condos is vast and varied with new projects entering the Toronto Real Estate market on a regular basis.
Prices are still staying in check with builders watching their inventory at the same time.
Toronto Condo prices and sales are sustained by affordability even with the growing number of luxury high-rise condos coming on this market.
Here is the average price for new Condo prices for May,2007 in the Toronto Market.
Price per square foot and average price:
Greater Toronto Area: $354 $315,587
Downtown Core: $699 $532,399
Central Waterfront: $426 $335,122
Downtown West: $432 $398,396
Downtown East: $350 $319,726
North Toronto: $507 $636,711
Toronto West: $349 $262,443
Toronto East: $337 $237,216
Bloor/Yorkville: $572 $572,261
Sheppard Corridor: $411 $378,191
North Yonge Corridor: $355 $288,261
Thornhill: $319 $310,300
Highway 7/North Yonge: $336 $349,306
Mississauga City Centre: $324 $271,615
Scarborough City Centre: $299 $234,865
From the above figures we can see the broad diversity of projects througout the Toronto Area and this really helps to keep the prices in check.
When the average price per sq. foot starts to rise , Condo sales will start to drop off but that has not happened in Toronto yet, as compared to Calgary and Vancouver.
Current Toronto Condo prices can be found on my Toronto MLS Listings website.