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Toronto Condo Sales Tumble 13%, But Don't Fret


The GTA saw 4,031 new condos sold during the third quarter, including a boatload of them at The Rosedale on Bloor (rendered above). While the level of sales activity is down 13% from the same period last year, according to Urbanation, the market is still on track to hit 20,000 sales by the end of 2015, “consistent with the market’s long-term trajectory and representing one of its best years on record.” SVP Shaun Hildebrand notes that the 20,000 sales-a-year pace appears to be the right level for the GTA. “It’s consistent with household demand, while also leaving some room for the growing trend of new rental development.”