REal Experts GTA Condo Report: August

Project Developer District #Units Sold $/PSF
Bisha Lifetime King/Spadina 334 100 $743
Chaz on Charles Edenshaw Yonge/Bloor 324 77 $663
Ventus 2 Metrogate Tridel Kennedy/401 314 56 $430

In July there were 861 sales (down 33.4% year over year)
Year to Date 2010 - 12,193 sales (up 78.4% from last year)
Unsold Inventory - 14,657 units (down 3.5% last year)

Observations

• Significant drop is sales from July 2010 and August 2009 (HST?)
• YTD sales still much higher than last year. This is still a fantastic year and ranks only behind 2007 in volume
  
• Index pricing up 9.4% this year and up 50% over the past five years
  
• Opening month is not going as well as previous years. Bisha at #1 sold 29% of its units.
  
• Tridel doing a great job working the broker channel selling Ventus II
  
• Big drop off from the top selling project to the 5th best selling project
• Developers have stepped up market efforts and doing a great job with being innovative
• Lots of broker anticipation for Tableau and Backstage this month should cause a sales uptick for October. After November, real estate agents and buyers historically start slowing down
  

Conclusions same from last month:

• 29+ launches set for fall, REal Experts expects to see sales fall and incentives to go up

Source: Real Net and the Lyon Report, pic from UrbanToronto (taken by udo)