The condominium market was the best supplied segment in Toronto’s real estate market in 2012’s Q3. The high number of condominium completions in 2011 and start of 2012 have led to a high volume of investor-held units being listed for sale. That and the new, stricter mortgage rules have temporarily moved some buyers to sidelines due to increased costs of home ownership have generated an over-supply in the marketplace.
Condominium sales through the TorontoMLS system have dropped 20.5%, while the number of new listings have grown by 6.5%.
For more information about the performance of the Toronto condo market, please click here.