Toronto condo sales jump 84 percent

The number of transactions with sales of apartments in Toronto for the month, from May to June, increased by 83.8 percent.

Canadian apartment sales surged in May as pandemic restrictions were eased in the country. The trend continued into June. During the month, 41,628 apartments were sold, which is 63 percent more than in May and 15 percent more than in June last year.

Most apartment sales jumped in the Fraser Valley (99.7 percent), Toronto (83.8 percent), Montreal (75.1), London and St. Thomas (67.9 percent) ), Greater Vancouver (60.3).

Prices rose by double digits in the 15 and 26 largest markets in Canada compared to last year. Part of the surge, experts say, is unmet demand for lost sales during the key spring season. The Canada Housing market froze when pandemic-related lockdowns began in March. As a result, activity in March and April fell to record lows.