Trump Tower
New Toronto Condos climbed to their highest monthly market share ever witnessed in the GTA market.
Almost three out of four ( 73 per cent ) of units sold in July were high-rise Condo suites. There were 3,135 new Condos and homes sold in the greater GTA in July, 2008 bringing the year to date to over 20,000 units (Jan-Jul).
According to the president of the Building Industry and Land Development Association the above average new Condo market share was in part a reflection of fewer low-rise new homes being sold attributed to a lack of supply.
From Jan to Jul 2008, the total high-rise market was down 22.5 per cent to a total of 10,723 units.
According to an Urbanation housing report the current average price of a new Toronto Condo was $396 a square foot compared with $388 in the first quarter so prices do continue to hold.
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