There are two good reasons to wait. The first is that the housing market overall is softening and this may affect prices.
The second is the way in which the new
condo properties are being marketed. They are all asking for a premium price because they paid a premium price for the land. They will have 'selling out fast' signs on them, trying to convince you that if you don't buy now (at the inflated price) you will be left out.
I'd wait and see how long the 'only a few left' signs remain hanging. I wouldn't be surprised to see many units available later (like mid 2009) at prices much lower than currently advertised.