REal Experts Pre-construction Condo Analysis: July

Project Developer District #Units Sold $/PSF
First Home Brampton Daniels Sandlewood/Bovaird 150 150 $251
Park 570 Vandyk Dundas/Cawthra 180 137 $328
Ventus 2 Metrogate Tridel Kennedy/401 314 113 $438

In July there were 1,222 sales (down 10% year over year)
Year to Date 2010 - 10,981 sales (up 103% from last year)
Unsold Inventory - 14,157 units (down 11.4% last year)

Observations

• No launches downtown meant Mississauga, Brampton and Scarborough did well
  
• Large drop in sales - 32% from the previous month (average drop June to July 15%) - may have been due to HST
  
• Number of projects increasing and absorptions are falling

Conclusions same from last month:

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

Source: Colliers, pic from UrbanToronto (taken by Jasonzed)