(Source: The Globe and Mail)
The new-condo market may be just starting to warm up again but the resale market is hot, according to May statistics from the Toronto Real Estate Board (TREB). In fact, condo resales, at 2,081 units in May, were up about 2 per cent from the same month a year earlier.
Condo resales are again moving in lockstep with single family homes and townhouses.
In May, total Multiple Listings Service (MLS) condo sales were 4,561 units in the Greater Toronto Area, compared with 4,422 in May last year – a 2 per cent increase.
The average selling price for all MLS sales (including both houses and condos) was $399,811, down a touch from $400,817 last year.
Read the full article by Terrence Belford “Condo resales are on a roll” in the Globe and Mail (June 19, 2009).