Condo Market Watch for Q4 and What Now?
The condominium market segment in the Greater Toronto Area shows that Q4 ended with the sales performance continuing to have strong growth and average price. New condo sales volumes for January 2020 have already exceeded the typical sales volume in January, kicking off 2020 to a great start.
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The condominium market segment in the Greater Toronto Area shows that Q4 ended with the sales performance continuing to have strong growth and average price. New condo sales volumes for January 2020 have already exceeded the typical sales volume in January, kicking off 2020 to a great start.
So what about the market stats for March 2020? According to TREB, overall sales in the first couple of weeks of March pre-covid shows an increase of 49% in sales transactions compared to the first two weeks of March 2019.
Sales post-covid in March (starting March 15 2020) compared to the same period last year has decreased by 16%. March as a whole, new listings has increased by 3% but similar to sales, there has been a slight drop in the second half of March by 18%
The Average selling price for sales reported between March 15 – March 31 was $862,565 – down from the first half of March 2020 ($902,680), but it is still up by 10.5% in comparison to the same period this time last year.