With 5,984 condominium resale transactions through MLS in the second quarter of 2013, we are down by approximately 6% in comparison to the second quarter of 2012. The number of active listings at the end of the second quarter was up year-over-year by less than 2.5%, while new listings were down by slightly more than 4%.
The average selling price for condominium apartments in the second quarter was $347,896 – up by 1.7 per cent compared to the average of $342,148 in the second quarter of 2012.
“While active listings were up year-over-year in the second quarter, it is interesting to note that new listings were down over the same period. If the number of new listings continues to drop in the second half of 2013 and the sales situation improves, we could see the pace of condo price growth accelerate as market conditions tighten,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
