The Greater Toronto Area is facing an “unprecedented surge” in the number of terminated condo real estate listings, which indicates that the region’s housing market is continuing to slow down, experts say.
The Emerald Park condo, located in the Yonge and Sheppard area, is seen in this undated photo. A nasty dispute involving legal threats, frightening e-mails, and accusations of a conspiracy erupted after condo fees more than doubled.
The number of terminated listings jumped from 380 in January to 2,822 in June, which represents the 643 per cent increase in the past six months. He added that the terminations are increasing at a time when there is a near-tripling of total condo inventory since the start of 2022. Unlike the GTA’s oversupplied sales market, real estate experts say that condo rental inventories are down nearly 60 per cent from January levels.