Condos are back to being a seller’s market as sales, rentals rise, says Toronto real estate board
Toronto area condo rentals and sales have seen “a dramatic resurgence” from the pandemic in which condo sales initially slumped and tenants fled their apartments leaving landlords to struggle to fill the vacancies, reports the Toronto Regional Real Estate Board (TRREB).
Citing the return of a seller’s market, the board said condo sales climbed 10.3 per cent in the last quarter, compared to the same period last year. Listings plummeted 31 per cent, however, pushing the average selling price up about 9 per cent to $689,831.