BuzzBuzzHome Corp.
March 22, 2011

This morning the Building Industry and Land Development Association (BILD) reported that there were 2,202 new condominium suites sold in the Greater Toronto Area in February.

It is the first time that sales have ever exceeded the 2,000 unit threshold in that (short) month.

This year’s numbers eclipse last February’s by a whopping 36 percent and crush the previous record, February 2002, by 26 percent. Woot!

BILD CEO Stephen Dupuis cited a few factors that led to such a strong month: the generally positive economic climate, continued low interest rates; relative affordability (compared with low-rise homes); superlative building and suite designs; and great value in terms of building amenities and suite finishes – all things that are likely to lead into a strong spring market.

BILD’s stats, in the table below, are from RealNet Canada Inc:

Click to enlarge

Mr. Dupuis did note, though, that the unaffordability of low-rise product is something that will have to corrected in order to attain market balance in the medium to long-term.

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