Like stock market, Toronto real estate market is cruising at this month . Yet details showing staggering levels of separation between condo and freehold sectors.
When freehold markets holding values very well, the condo market is not performing as well. With volume of sales of both of these sectors in higher levels than last year, condo sector closely follows what I regard as realistic market position for local economy where the prices should come down to become affordable.
Freeholds are selling at values above last two years Olin average which is very unattractive for local buyer economy and pundits regard this as a sector with influx of investors who bet on the future values and hold on to their valuations more tightly because of this sector lack of supply.
