First Quarter TREB Condo Report

TREB’s Condo Market Report is out.  4,133 condominium apartment sales happened during the first quarter of 2013 through the TorontoMLS system.  That number is down approximately 17 per cent in comparison to the great condominium selling year of 2012.  The average price for the first quarter was $332,846 down a slight 0.5 per cent compared to the same period in 2012.  Jason Mercer, TREB’s Senior Manager of Market Analysis states “With months of inventory high from a historic perspective, it makes sense that the average selling price for condos edged lower over the past two quarters. However, March results were much more positive compared to the first quarter as a whole, with the average condo selling price up by two per cent annually for the GTA”.

The GTA condominium market is still in demand as affordability and convenience are still 2 important factors homeowners and investors consider when making a purchase.