TORONTO, January Eleven, 2013 Larger Toronto REALTORS reported 3,830
Condominium house sales through the TorontoMLS system in the 4th Quarter of 2012. This number represented a decline of Twenty-three percent compared with 5,005 sales during the same time period in 2011. "The condominium apartment|flat|studio} market was the best supplied market segment in 2012. Strong condo studio completions in 2011 and the first few months of 2012 led to a serious number of new listings on the TorontoMLS system last year.
With more units for buyers to make a choice from, the once a year rate of price growth
Moderated," recounted Toronto Real estate Board ( TREB ) President Ann Hannah.
In the condominium apartment rental market, transactions rose by virtually Thirteen per Cent year-over-year in the fourth quarter, while the number of units listed for rent Increased by about Seventeen per cent. Average leases were up on a year-over-year basis for One-bedroom and two-bedroom residences. "While some new buyers put their call to get on hold in the fourth Quarter, many of those folk selected to rent a condo house instead. Similar to the ownership market, robust new apartment completions prompted a substantial increase in the quantity of investor-held units offered to rent. However,
there had been still enough competition between renters to prompt upward strain on Average rents," said Jason Mercer, TREB's Senior Manager of Market Analysis.
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