Condo Sales Report
Condo Market Conditions Tightened Further in Q1
The Toronto Real Estate Board's Condo Market Report provides an in-depth analysis of the previous quarter's sales statistics.
TORONTO, ONTARIO, April 25, 2017 – Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported a double-digit annual increase in condominium apartment sales in the first quarter of 2017. A total of 7,251 condominium apartments changed hands through TREB’s MLS® System during the first three months of 2017 – up 21.7 per cent compared to the same period in 2016. Over the same period of time, the number of new condominium apartment listings entered into the MLS® System was down by 18.8 per cent to 9,036 compared to 11,123 new listings a year earlier.
The average selling price for condominium apartments in the first quarter of 2017 was $489,551 – up 24.3 per cent compared to an average of $393,858 for the first quarter of 2016. The average price was highest in the City of Toronto, at $521,842, representing a year-over-year increase of 24.3 per cent.
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