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Where Have All the Listings Gone? GTA Condo Inventory Drops 63% In Last 12 Months

Author: 
Robert Van Rhijn
Publication date:
June 4, 2022
Article Summary: 

The Greater Toronto Area (GTA) condo market is experiencing historically low inventory levels, with listings dropping by 63% in the last 12 months, according to founder of Strata.ca, Robert Van Rhijn. This is due to sellers holding off from listing during the winter months, ongoing concerns over Covid-19 variants and a "now or never" attitude from buyers who fear interest rates may rise. These factors are contributing to a surge in condo prices, which have increased by 34% in just 15 months, to an average of CAD910 per square foot. However, there is optimism that the market will see an uptick of new listings in the next couple of months, as sellers look to cash in on the busy spring market.



Keywords: 

GTA, condo market, inventory, listings, COVID-19, sentiment, FOMO, pricing, spring market.



Source Citation: 
Robert Van Rhijn
Where Have All the Listings Gone? GTA Condo Inventory Drops 63% In Last 12 Months
June 4, 2022
https://strata.ca/blog/where-have-all-the-listings-gone-gta-condo-inventory-drops-63-in-last-12-months
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