The GTA was the only region where average condo prices declined year-over-year
While most regions saw sales decline from last year over the eight-month period, Edmonton posted a 36.7 per cent sales increase, with 3,351 properties changing hands. The GTA, Greater Vancouver and Fraser Valley each recorded sales declines of more than eight per cent.
The report warns that Toronto, where oversupply and lagging demand have plagued the condo market, may be the last market to emerge from sluggish conditions.
The GTA was the only region where average condo prices declined year-over-year — a 1.9 per cent drop to $732,648 — over the period, while Calgary led the way for average price growth of 15 per cent to $347,203.