October 18, 2012
Third Quarter Condo Market Update:
The above graph is from the TREB Condo Market Report October 16, 2012. Growth in the number of new listings, has caused the average condo apartment price to equalize to prices from the same period last year. With more listings to choose from and fewer sales, the upward pressure on prices of condos has leveled out.
The result is a balancing out in the condo apartment market in central Toronto. This should rule out a wholesale price drop in this segment. Markets naturally adjust, through inventory, price and with recent government intervention.
The key message is that condo apartment prices have stabilized from their recent declines from the spring.