Here is an article about Toronto Condos. This article to summarize it, states that the Toronto Condo prices have fallen to there lowest and the confidence of buyers is falling. I think it's important that we all do our research before we start making definitive statements. As John Mehlenbacher, chief operating officer for Condo Store Inc. says;

"I think you have to understand that the fall figures have to be taken in perspective," he says. "First, they come at a time when the overall economy is heading downward, and second, the months from October through to almost March are traditionally the slowest time of the year for sales.

"I think you have to wait until spring before making any definitive judgments on the resale market."

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"Mr. Lamb pushes that time frame a bit further. He thinks it will likely be mid-year before buyers have passed through that psychological low point and start returning to the market. "I think this time next year you will find people kicking themselves in the behind saying they wish they had bought in December or early in the new year. There are great buying opportunities out there now."

According to the Toronto Real Estate Board, the median price of all condos sold in November was $226,000, compared with $241,000 in the same month in 2007. Sales last November, however, totalled only 906 units, while a year earlier, 1,837 suites changed hands.