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New listings are up too, especially for condos which far exceeded growth in other segments of the market.
“Competition between buyers was especially strong for low-rise home types, leading to robust annual rates of price growth,” said Jason Mercer, TRREB’s chief market analyst.
“However, with growth in condominium apartment listings well outstripping condo sales growth, condo market conditions were comparatively more balanced, which was reflected in a slower pace of price growth in that segment.”
Prices for detached homes rose almost 20 per cent, semi-detached were up 18 per cent, while condos lagged with a 9.5 per cent increase.
