C01 condo sales 

In south-central downtown district west of Yonge Street, known as C01, 2006 prices were mostly level, with a slight downwards direction. Then, in 2007, we have seen a steep increase in prices, especially in the second half of the year. The first quarter of 2008 was flat, with an upward spike in May, then a gradual decrease in average prices until November, and some recovery in December.

Looking at condominium unit sales in the district over the last three years a definite trend appears. In January sales start fairly low, increasing in number until May - June, and then slowing down in the second part of the year. Notice a 'hump' in the last quarter of 2007. That was caused by buyers rushing to purchase properties before the new Toronto Land Transfer Tax was to be imposed in February 2008.

C08 condo sales 

In south-central Toronto district east of Yonge the trend in average prices is less evident, the graph seems to show wild fluctuations in 2006. The trend was upward in 2007, and downward in 2008.

Unit sales, as in C01, start low, increase in the first half of the year, and then decrease towards the end of the year. But the start was slower in 2008 than in the preceeding two years, and the drop was sharper.

So far this January we have seen a dramatic reduction in the number of condominium units being sold. With three more days until the end of January, only 54 condos were reported sold in C01, with an average price of $319,130. That compares to 194 units in January 2008, and 164 units in January 2007. Average price is 10% lower than in January 2008. In C08 34 condos were reported sold so far, at an average price of $338,023. That can be compared to 72 units in 2008 and 69 in 2007, and the average price is 4.5% lower than in January 2008.