For Whom The Bell Tolls – Condo sales drop 8 percent

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“The number of new condominiums sold in Toronto dropped by eight per cent in the third quarter, the smallest decline of the year but still on track to see the city sell less than half the number of new condos as were sold in 2011.

Market tracking company Urbanation said Wednesday that a total of 3,049 new condominium apartments were sold between June and September, down eight per cent from the same three months a year ago.

Given the current sales trend and the expected number of launches for the fourth quarter, new condominium apartment sales will likely total approximately 13,000 units this year. That’s down from 17,997 in 2012 and 28,190 sales in 2011.” – CBC News

http://www.cbc.ca/news/business/toronto-condo-sales-decline-8-1.2416898

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