The Altus Group statistics for June 2019 released by BILD show that sales for new condominiums in the Greater Toronto Area were up 14 per cent from one year ago, and only 5 per cent below the 10-year average. In addition, the benchmark price of new condos increased slightly from May and were up 3.9 per cent over the past year. Interestingly, the total number of condos sold in June was 2,420, and only 1,214 were in Toronto. The 905 areas of Durham, Halton, Peel and York accounted for 1,206 of those sales. Of the 932 new single-family home sales in June, only 6 were in Toronto. The rest were in the 905 municipalities.
A lot of this success has to do with overall inventory. In June, there were 19,062 new homes for sale, which was up over 25 percent from the year before. A full 14,377 of these were condos, up over 39 per cent over the same time period. Of the 3,352 new home sales in June 2019, 2,420 were condos – meaning once again, condos are king in the GTA!