New record highs in the Toronto new and resale high-rise condominium markets show this market is not slowing down in 2007.
Second quarter sales according to Urbanation showed 6,997 new condominiums sold and 4,615 resale condominiums sold, both records.
There was also a record number of project launches like Pier 27 (pictured above), the L tower, Festival tower and Beyond the Seas to name a few. Two awaited, new Toronto luxury hotel-condominiums launched-The Four Seasons Residence in Yorkville and the Living Shangri-La across from the Four Seasons Arts Centre.
More than 30 new Condo projects are scheduled to open in the next few months bringing another 8,000 units to market. Average prices from the first quarter $348 per sq. ft. rose to $371 per sq.ft in the second quarter, about 6.6 per cent. The average price in the resale Toronto Condo market rose to $294 per sq.ft.
The resale Toronto Condo market is very strong in demand areas like Bay Street, I was a successful buyers agent there, and North York were I was a listing agent with 11 registered offers on that demand Condo.
Looking for new resale Toronto Condos?..see my Toronto Condos website for Condo, Townhome and Loft listings.
[...] is a Condo Boom going on and this market continues to show strength and it continues to increase as time goes [...]
By: How To Choose Great Toronto Condos « Toronto Condos on August 30, 2007
at 12:44 pm
[...] of the Luxury Toronto Waterfront Condos is Pier 27 , a close neighbour on Queen’s [...]
By: Corus Quay Toronto Waterfront « Toronto Real Estate, Condos, Condominiums on July 20, 2009
at 5:22 pm