Condo Market Report: 2012 Q3 Update

Ian Mehisto

October 8, 2012
at 5:43 pm

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.

2012 Q3, Q3, Toronto Condos, Toronto Real Estate Board, Toronto Real Estate Market, TREB

Ian Mehisto

As an award winning REALTOR, Ian brings a passion for the industry that enables him to provide his clients with an exceptional level of client care from start to close in every transaction. His straightforward, honest approach, professionalism and knowledge of the marketplace are a true asset to your real estate transaction.