Toronto condo market. ” Oct 11, 2024 · The Toronto Star and thestar.

• Toronto condo market Despite this, a year-over-year increase of 16. Here’s a look at the 2024 sales for the 416: In January, we saw a 46% increase, from 604 sales in 2023 to 883 in 2024. They want small units, the yields of them are higher. com, each property of Toronto Star Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8 Back Jan 13, 2025 · The woes of Toronto’s condo market show little sign of easing in 2025, with plunging demand and a flood of available inventory suggesting a crisis could be imminent. All in all, TD expects condo prices to continue to fall, keeping average home price growth in Toronto and by extension Ontario “subpar” into next year. Dec 12, 2024 · In their 2025 Housing Market Outlook Report, RE/MAX Canada reported that their brokers and agents in 81% of regions surveyed noted that "first-time homebuyers were the key demographic anticipated to drive market activity in 2025. 1. Over the same period, condo apartment listings were up substantially. Baradziej’s situation is part of a larger trend across Toronto’s condo market, where preconstruction buyers are facing steep appraisal shortfalls. Nick Lachance Toronto Star By Diana Zlomislic Consumer Affairs Reporter Jan 16, 2025 · In the last few months of the year, only 10 per cent of presale units that came to market actually sold, despite them being 15 per cent cheaper, on average, than in 2023 and priced lower than in May 4, 2023 · Condo sales in the City of Toronto slowed to a trickle to end 2022, but the market showed signs of bouncing back in the first quarter of 2023, data from the Toronto Regional Real Estate Board showed. In this article, we will explore the key trends and predictions for the Toronto housing market in 2025, considering economic, social, and regulatory developments. The following data is for condominium, not freehold, and for sales, not leases. Jan 30, 2025 · So again, it needs to be said: there is a difference between the resale condominium market and the pre-construction condominium market, and in 2024, so many of the major media outlets failed to distinguish between the two. 4 per cent on an annual Jan 16, 2025 · “The new condo market just experienced its toughest year in three decades,” Shaun Hildebrand, Urbanation’s president, said in a statement. Mar 6, 2025 · It's been over a year of extraordinarily meagre activity in the Toronto area housing market, but despite the prolonged sales slump, a torrent of people looking to sell, and now a trade war with TRREB Releases 2024 Q2 Condo Market Statistics TORONTO, ONTARIO, July 26, 2024 – As borrowing costs remained high in Q2 2024, condominium apartment sales were down noticeably in comparison to Q2 2023. ca Jan 13, 2025 · THE TORONTO REAL ESTATE MARKET IN 2024. With the new level of supply, the market has shifted towards a more balanced state, with some sectors like condos leaning closer to a buyer’s market. “Expectations for the market remain low this year as investors, the primary driver of presale activity, continue to deal with negative cash flow, difficulties arranging financing and declining prices and rents. Even with the retrenchment, condo prices are still about 20 per cent above pre-pandemic levels. After a few years of stagnant pricing, the Toronto condo market is poised for a plunge. Hildebrand noted that the construction in Toronto is especially constrained. Photo by Chris Young/The Canadian Press files. The average condo apartment selling price was down slightly year-over-year. Mar 13, 2024 · The Toronto Regional Real Estate Board’s (TRREB) recently released Condo Market Report revealed that condo sales in the fourth quarter of last year were not only down 3. Many Toronto buyers who Nov 3, 2024 · As we approach 2025, the outlook for Toronto’s housing market remains a hot topic for investors, policymakers, and potential homeowners. Jan 9, 2025 · Ben Myers, founder and president of Bullpen. Despite there being substantially more balance in the Dec 30, 2024 · Toronto’s Condo Market Will Plummet. ) A deflating, bubble-like Toronto condo market spells more bad news for investors and developers as prices for unsold units are projected to continue to slide in 2025, according to data from Bullpen Research & Consulting. TRREB Releases 2022 Q3 Condo Market Statistics TORONTO, ONTARIO, October 27, 2022 – Following the ownership market as a whole, Q3 2022 condominium apartment sales were off by approximately 46 per cent compared to Q3 2021. Feb 24, 2025 · The Toronto Real Estate Board (TRREB) provides quarterly statistics on condominium apartment sales and prices in the Greater Toronto Area (GTA). Mar 29, 2025 · The Toronto condo market is undergoing a significant transformation in early 2025. Aug 15, 2024 · “A lot of our pre-construction condo market has just been driven by demand, largely from mom-and-pop investors. But there are risks on both sides. The Toronto real estate market in 2024 was significantly influenced by high borrowing costs, which remained a substantial hurdle, stifling affordability and keeping many potential buyers—especially first-time buyers—out of the market. “The market for new condo development in Toronto is in a difficult situation at the moment. May 10, 2024 · Typical of a seasonal spring, home and condo listings surged in April, up 47. Current Market Overview and Recent Trends Current Toronto MLS® stats indicate an average house price of $1,116,351 and 7,319 new listings in the last 28 days. With that out of the way, let’s first talk about the “days on market” statistic as we finished 2024. 4% in new listings Sep 9, 2024 · There is context needed here though, Sondhi stresses. 2% from last year, and this trend is expected to continue in May. This is largely why we build a lot of small condos in Toronto,” he said. Toronto Regional Real Estate Board (TRREB) data shows the benchmark (typical) condo apartment price plunged lower in September. Jun 14, 2024 · The condo market in Toronto has more units up for sale than ever before, and the majority of them are small and investor-owned. See the latest report for Q4 2024, which shows improved affordability, lower prices and inventory, and expected demand growth in 2025. (Courtesy Bullpen Research & Consulting Inc. TRREB Releases 2024 Q2 Condo Market Statistics TORONTO, ONTARIO, July 26, 2024 – As borrowing costs remained high in Q2 2024, condominium apartment sales were down noticeably in comparison to Q2 2023. Between unsold new development, assignment and resale inventory, condo supply in the Greater Toronto Area is stratospheric. This in-depth analysis explores current trends, pricing shifts, and actionable insights for sellers, buyers, and investors looking to navigate this evolving landscape See full list on wowa. With falling prices, an unprecedented rise in inventory, and shifting buyer sentiment, market participants face new challenges and opportunities. As of today, Toronto housing data shows median days on market for a home is 23 days. May 16, 2024 · As you’ll see from the data below, this presents a more complete picture of the downtown condo market in 2024. That’s a sign of a strong market! Feb 11, 2025 · Widespread problem. ” Oct 11, 2024 · The Toronto Star and thestar. " Toronto-based realtor with Royal LePage, Jennifer Dernek, tells STOREYS this is a trend she sees playing out as well. Mar 6, 2025 · It's been over a year of extraordinarily meagre activity in the Toronto area housing market, but despite the prolonged sales slump, a torrent of people looking to sell, and now a trade war with Oct 29, 2024 · Greater Toronto condo owners holding out for the monetary easing cycle got some bad news last month—it didn’t matter. Larger condo units are seeing more demand in the market compared to the smaller units, according to Dec 5, 2024 · Due to a glut of inventory, Toronto’s condo market appears to be on “a different trajectory,” the report notes. Now the question is whether that recovery has legs. The declines aren’t softening either, instead picking up pace and making one of the largest monthly drops on […] Jul 22, 2024 · The firm, which tracks the Greater Toronto and Hamilton Area (GTHA) housing market, reported that just 1,688 condos sold between April and June, a 66 per cent decline from the same period in 2023 Dec 10, 2024 · In the resale market, condo sales in the central 416 area code jumped 38 per cent in November from the same month last year, according to the Toronto Regional Real Estate Board. GTA condos are expected to see a one per cent decline in price year-over-year Nov 18, 2024 · After much speculation as to whether the Toronto real estate market will be able to absorb the sea of condos that have popped up, it seems that—at least for now—the answer is no. Apr 23, 2024 · A new condo construction site in downtown Toronto. In the first half of 2024, sales of newly built condos fell by 57 per . ptsxkz vyc eiznaz jht cdiii edf gjvwwq dcwrze egnzd lsjfhv ingirhkp ciyfis eojjlv nfcshk paol