Thought we’d take a look all the new high rise condo project openings since 2000 and see the mix of units coming to market each year. The data is as of March 31, 2012 so 2012 only shows Q1 data.
The first chart looks at the number of units launched each year by unit type and the second chart looks at the same data as a market share percentage by unit type. “Penthouse” and “Other” unit types have been intentionally left out of these calculations.
It seems that the “larger” units (2 bedroom, 2 bedroom + den, & 3 bedroom+ units), as a percentage of new releases peaked in 2004 with 54% of all new units coming to market being one of those 3 unit types.
The situation has changed dramatically by the first quarter of 2012 with 68% of new units released being of the “smaller” unit types (studio, 1 bedroom, & 1 bedroom + den units).
These calculations exclude “Penthouse” and “Other” unit types.