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Toronto Real Estate Board — Condo Market Commentary

Active List­ings Growth for Condo Apart­ments Out­pac­ing List­ings for Low-Rise Home Types in the Sec­ond Quar­ter of 2010

By Jason Mer­cer, Toronto Real Estate Board Senior Man­ager of Mar­ket Analysis

Fol­low­ing very tight mar­ket con­di­tions in the first quar­ter of 2010, the resale home mar­ket became bet­ter sup­plied between the begin­ning of April and the end of June. The num­ber of active list­ings climbed strongly in the sec­ond quar­ter com­pared to the same period last year. Lead­ing the growth in list­ings was the con­do­minium apart­ment segment.

Toronto Condo Stats - Second Quarter 2010

In the cen­tral dis­tricts in par­tic­u­lar, active list­ings for con­do­minium apart­ments grew by 79% year-over-year in the sec­ond quar­ter – a much stronger growth rate rel­a­tive to the 25% increase for all other home types.

The active list­ings trend for con­do­minium apart­ments fol­lows the trends for annual median price growth and new con­do­minium apart­ment com­ple­tions in the GTA. With the excep­tion of a brief down­ward blip in the third quar­ter of 2009, new con­do­minium apart­ment com­ple­tions have remained strong over the past year.

This sug­gests that many new units, which are owned by investors or buy­ers whose hous­ing needs have changed since their pre­con­struc­tion pur­chase, con­tinue to be listed in the GTA resale market.

Toronto Condo Stats - Second Quarter 2010

This is espe­cially the case within the City of Toronto where almost 80% of GTA con­do­minium apart­ment con­struc­tion is tak­ing place. Strong price growth has also attracted more list­ings into the mar­ket, as some own­ers look to con­vert sub­stan­tial “paper” returns into actual “dol­lar” returns.

Of course, with a surge in active list­ings over the past few months, buy­ers have ben­e­fit­ted from more choice and the annual growth rate for the median price has mod­er­ated to a cer­tain degree.

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Con­tact the Jef­frey Team for more infor­ma­tion  -  416−388−1960

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  • One Response to Toronto Real Estate Board — Condo Market Commentary

    1. How has the real estate market’s fluc­tu­a­tions impacted your business?

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