Condo Sales Report

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Strong Price Growth Continues in Condo Segment


TORONTO, ONTARIO, April 16, 2018 –Toronto Real Estate Board President Tim Syrianos announced that the average selling price for condominium apartments sold through TREB’s MLS® System was up by nine per cent year-over-year to $533,447 in the first quarter of 2018.


While the number of condominium apartment sales reported by Greater Toronto Area REALTORS® in the first quarter was down by 29.7 per cent year-over-year to 5,084, so too were the number of new listings, which were down by 11.1 per cent annually to 8,030.


“Seller’s market conditions for condominium apartments remained firmly in place in the first quarter of 2018. Strong competition between buyers underpinned price growth well above the rate of inflation. We expect the condo market segment to remain strong through the remainder of 2018 and over the longer term, as buyers
continue to see ownership housing as a quality long-term investment,” said Mr. Syrianos.


Inventory levels for condominium apartments in the first quarter of 2018 were above the record lows experienced during the first three months of 2017. However, with months of inventory continuing to trend between 1.5 and 2.0 months, market conditions remain very tight from a historic perspective.

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Condo Market Report (PDF)