Breaking News-Toronto Condo Sales Price Rise 1st Quarter 2018!
Monday Apr 16th, 2018Share
Toronto real estate condominium apartment sales remain strong in the first quarter of 2018, according to Toronto Real Estate Board figures sold statistics reported through TREB's MLS* System. The average selling price was up 9% year-over-year to $533,447 in the period January 1 to March 31, 2018!
While the number of condo apartment sales reported by the Greater Toronto Area Realtors* in the 1st Quarter was down 29.7% year-over-year to 5,084, so were the number of new properties on the market, down by 11.1% annually to 8,030.
It continues to be a seller's market for condo apartments in Toronto in the first quarter of 2018 and is expected to remain a seller's market for the remainder of the year, as buyers continue to see home ownership as a quality long-term investment, and as the condo apartment market segment continues to have the lowest price point compared to other major low-rise home types.
*Source: Toronto Real Estate Board News Release April 16, 2018