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Toronto Condo Sales Drop, Prices Stall |
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 Condo prices in Toronto have finally stopped climbing. After months of weakness in sales numbers, prices are now coming down in what some observers are calling the most overbuilt condo market in North America.
The Toronto Real Estate Board (TREB) reported Tuesday that condo sales fell 20.5 per cent, year on year, compared to the first half of October, 2011. And prices have halted their long-running upward momentum; the average condo in the Toronto area sold for $332,969, down about $1,200 from the same period last year.
Sales in the broader housing market held up somewhat better, with volumes falling about 10.5 per cent, but prices were still climbing in this market, up 6 per cent year-on-year.
At Gay Realty Watch, we look for news to share with you about the gay real estate market - both lgbt real estate news and news specific to gay and lesbian real estate meccas.
Authored By Daniel Tencer- See the Full Story at the Huffington Post
Click here for gay realtors, mortgage lenders, and other real estate professionals in Toronto.
If you have a gay real estate story that you'd like to share with us, contact us at info@gayrealtynetwork.com
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Published on:
October 21, 2012
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