Suburban condos sales top Toronto for the first time ever

New condo sales in the 905 hit record levels in August, beating out Toronto for the first time. The numbers aren’t even close—the suburbs took it 1,185 to 826 (the average price of a condo downtown is over $600 per square foot versus around $400 in the 905 regions, almost matching the percentage difference in new condos sold). However, don’t expect Newmarket to look like City Place anytime soon. Experts agree that the numbers are an anomaly—typically downtown condos sales triple those in the suburbs, and there are several Toronto projects on the way. Read the entire story [Toronto Star] »