Resale Condominium Market Figures -3rd Quarter of 2015

Mark Mclean, Toronto Real Estate Board President announced strong year-over-year growth in condominium apartment sales also reported through TREB’s MLS System in the third quarter of 2015. In comparison to third quarter of year 2014, sales were up close to 11 per cent this year.

The president stated that the condominium apartment market segment has been a key contributor to the overall growth of GTA home sales this year. He also stated that with continued sales growth expected in the fourth quarter, we are on a track for a new record in condo transactions through TREB’s MLS system this year.

“The condominium apartment market has certainly benefited from an increase in the supply of listings over the past year. However, through the first three quarters of 2015, growth in sales has actually outstripped growth in listings. This suggests that there was a certain amount of pent-up demand for condominium apartments. As new projects have completed, investor-held units listed for sale have been absorbed very quickly by end users, to the point where price growth has remained strong,” said Jason Mercer, TREB’s Director of Market Analysis

Reference: Toronto Real Estate Board