I thought I’d add a quick look at the current average asking prices of available high rise units in completed projects and I’m comparing those prices to the original price of each project at the time it opened for sales.
On the charts below, each circle represents one completed project with available units remaining for sale. The colour of the circle represents the project’s location, and the size of the circle represents the number of available units in that project.
The x-axis indicates the original price/sf when the project launched and the y-axis indicates the current average price/sf of the remaining units. Therefore any project above the diagonal line indicates the remaining units are priced higher now than when the project launched. On the diagonal line and the remaining units are priced the same as when the project launched.
First here’s all the projects in the GTA that are completed and have unsold units as at the end of October 2012.
And now a detailed view of those projects with remaining inventory currently priced between $200/sf and $600/sf.
This method of presenting the available inventory of completed projects allows for a comparison of the current price of available units with the overall original price of the project. Depending on the available units, and the intended use of the unit (rental, owner occupied), the difference, or lack thereof, may impact purchase decisions.