Although strong demand exists for commercial product within the Greater Toronto area, year-to-date sales are hampered by limited availability.
Inventory levels continue to present a challenge, with virtually all segments of the commercial market reporting shortages. Year-over-year sales have fallen to 886 units over the $1 million price point as a result in 2013, down from 955 units between January and June one year earlier. Dollar volume, however, has surged ahead in 2013, climbing to $7.7 billion—a 28 per cent increase over 2012 levels—according to RealNet Canada.
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