According to RealNet Canada Inc, one of the most trusted real estate sources for real estate information, the GTA saw condo sales rise to their second best year ever.
The total number of units sold in the area increased by nearly 3000 over 2009, climbing to 36,803, and represents about $16.7 billion of value. 55% of all units sold fell under the high density sector category (apartments, lofts, and stacked townhomes).
Sales of low rise new homes decreased by 10% from 2009, mostly due to a shortage of services lot supplies according to RealNet Canada's President George Carras. Overall however, new homes sales (which includes the high density sector) went up by 8% from 2009, boosted by the condominium market's annual sales growth of 30% over 2009.
Average prices for condominiums in the GTA surpassed the year prior by about 11%, settling at $441,663.
The low-rise sector also saw higher average prices, closing 2010 at $503,190.
The 905 region continues to outpace the 416 in total sales, with 55% compared to 45%.
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