In a news release, Urbanation, a leading condominium market research company, notes that the top developer in 2009 was Tridel, selling 1300+ units, followed by Plazacorp. The top selling site was Lanterra/Cadillac Fairview Ice Condominiums- Phase 2 (beside ACC- our office was involved in a few sale there).
There were 6295 new condo sales in Q4, up 36% over Q3. There were only 917 new units sold across the Toronto CMA in Q1. Total new condo sales for 2009 was 14,792, and increase of 2% over 2008.
According to the news release, over the past 10 years, the average per sq. foot has risen from $173 to $352. It is expected that 19,000 units will occupy in 2010, which should kick-start resale activity and ease some of the supply constraints that have led to record high prices in the resale market.
Also, in case you missed it, the various groundhogs saw their shadow today, meaning 6 more weeks of winter- good for the Olympics anyway! Go Canada Go
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