The 9,455 new condominium apartment sales in the second quarter topped the previous record high of 6,997 in Q2-2007 by 35%. There were also records set in Q2-2011 for the number of active projects, active units, sold index price, unsold index price, new condominium launches (units and projects), units and projects under construction, and quarterly unit registrations. In addition, only 16% of the active units in the market are unsold, a record low, quarters supply is at its lowest level since 1989, unsold units per project is at its lowest level since 1996, sales per project is at its highest level since 1988.
Over the past 12 months there were 24,731 new condominium sales, topping the previous record high of 22,654 from Q4-2007 by 9%. These results are a far cry from Q2-2009 when less than 10,000 sales were realized over the previous 12 months.
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