How Hot is the Toronto Condo Market?

GTA HOUSING MARKET ON THE (HIGH) RISE BUZZBUZZHOME LOOKS AT WHERE THE MARKET IS GOING. HINT: LOOK UP! NEW RECORDS FOR THE GTA REALNET CANADA 25,408 22,348 38,848, UNITS IN 153 PROJECTS 9,026 7,423 Q2 2007 Q2 2011 DECEMBER YR. ENDING JULY 2011 2007 JUNE 2011 UNITS SOLD IN 12 MONTHS UNITS SOLD IN CONDOMINIUM UNITS A QUARTER UNDER CONSTRUCTION WHAT ARE PEOPLE BUYING? REALNET CANADA 14,541 2/3 OF NEW GTA HOME SALES IN JUNE 2011 WERE CONDO UNITS NEW GTA HOME SALES IN Q2 2011 $314K S462K CONDO IN JUNE 2011 INDEX PRICE OF A NEW DISTRIBUTION OF UNITS CONDO IN JUNE 2006 25% 1 BDRM 21% 2 BDRM INDEX PRICE OF A NEW 10% 2+DEN 2% 3 BDRM+ 2% STUDIO 1% OTHER 37% 1+DEN 2% PENTHOUSE WHO'S BUYING CONDOS? TRIDEL 50% FIRST TIME BUYERS 25% EMPTY NESTERS 25% MOVE-UP BUYERS 33 AVERAGE AGE OF FIRST TIME BUYERS 11142 AVERAGE AGE OF CONDO BUYERS WHY? TRIDEL/BMO TOP 3 MOTIVATORS FOR CONDO LIVING 00 PRICE LOW MAINTENANCE LOCATION 46% OF CANADIANS PLANNING TO BUY A CONDO ARE DOING SO TO GET INTO THE HOUSING MARKET