Urbanation. The authoritative source on the Toronto condominium market.
Since 1981, Urbanation Inc. has been actively tracking Toronto’s highrise condominium market. From projects in the planning stages, to new projects in the sales and construction phases, to completed projects trading in the resale market – Urbanation monitors the market’s performance, continuously collecting data and providing economic and statistical analysis to its clients with consummate accuracy.
In the News
Rebound in condo sales 'miraculous'
November 4, 2009
The city's condominium market experienced a "miraculous" rebound during the third quarter of this year, new data shows, just as luxury home sales also edge higher. More new condos were sold during that period than in the first two quarters combined, said Ben Myers, executive vice-president of Urbanation Inc., which tracks the Toronto condo market. And on the resale side, numbers hit a record high. more
In this issue
Market Overview
The 4,991 new condominium sales in Q2-2010 represent a decline of 8% from Q1-2010 (5,415). Historically, the Q2-2010 results are very strong, but when considering the torrid pace of sales over the six months leading into the quarter, the market showed signs of softening in the second quarter.
New Condominium Market
A total of 4,991 new condominium units were sold in Q2-2010—ranking as the sixth highest quarter on record and the 3rd highest second quarter for the Toronto CMA new sale market, behind Q2-2007 (6,997 sales) and Q2-2005 (5,809 sales).
The Resale Condominium Market
Impending new mortgage rules, fear of rising interest rates and avoidance of the HST (which doesn’t apply to resale units, although many buyers and sellers mistakenly thought it did) factored significantly in the robust resale activity of Q2-2010. Resale activity in the second quarter, typically the most active quarter of the year, increased 18% from Q1-2010, and year-over-year resale transaction activity was 5% higher than in Q2-2009.
Future Condominium Projects
As was the case in Q2-2010, the third quarter could see as many as 30 projects (and over 7,000 units) launch in Q3-2010. As the pace of sales office traffic and sales has waned in the warm weather experienced in 2010, some of these openings will likely be pushed back to the fourth quarter.
New openings for August 13, 2010: