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
Sweetening The Deal
July 26, 2008
Condo Marketers: Up Their Game
The coating of celebrity was as thin as a French manicure, but it sparkled just enough to catch the eye of Toronto's voracious condo clique. A downtown developer was offering the chance to win a $75,000 deposit on a condo. All entrants had to do was resemble a celebrity, and start racking up supporting votes on Facebook. more
In this issue
Market Overview
Upon the close of the second quarter of 2008, it has become apparent that the Toronto Census Metropolitan Area (CMA) condominium market is returning to more ‘normal’ levels of activity. Although supply and demand indicators still point to a ‘seller’s’ market, both pricing and sales have slowed considerably from last year’s record pace.
New Condominium Market
Although the second quarter of 2008 didn’t break any new sales records, it was a quarter of multiple record highs. The Toronto CMA reached all-time highs in total active projects (295), total openings (38), total units (66,310), unsold units (15,893), units under construction (34,697) and average index price ($396 psf).
The Resale Condominium Market
The resale market also showed signs of softening in Q2-2008, as 3,915 resale condominium apartments sold, down 15% from Q2-2007 (4,615 sales), but up 10% from Q2-2006 (3,558 sales) and up 4% from Q2-2005 (3,770 sales).
Future Condominium Projects
Urbanation is still confident in the overall condominium apartment market in the Toronto CMA; however, the pervading focus on demand is giving way to a focus on supply and supply constraints, specifically in the areas of financing, construction costs (hard and soft) and land prices.
New openings for August 19, 2008:
- Woods of Aubergine
- Ice Condominiums