Update May 2017 – The Real Facts

The average price of condos in the 416 was up 27.7% in May 2017 vs May 2016. Sales volume was down 4.3%, although sales volume was still very robust. Overall days on market was 11 vs 15 one year ago. Sales supply inventory for condos in C01, C02, C03, C08, C09, C10, C11 (area bounded by the Waterfront, DVP, Dufferin, and Eglington) was down 32.4% over May of 2016. Available inventory for rent was down 21% over last May. Any notion that the supply of available condominiums for sale is up vs last year is nonsense. The condo market in central Toronto is very tight and prices will continue to rise, although not at 35% year over year.