Week 185: Toronto Condo Market: The Real Deal No One’s Telling You

Yo, Let’s Talk Condos

Alright, listen up. Week 185 in Toronto’s real estate game is screaming “condos” at the top of its lungs. Sales are bouncing back, but hold your horses. The market’s jam-packed with listings, and the Bank of Canada’s playing roulette with interest rates. So, should you list your condo? Maybe not, and here’s why.

What’s Up with All These Listings?

– Right Now: 2,439
– Five Weeks Ago: About 1,600
– Buyer’s Market Alert: 3,000
– All the data below in the charts

Look, the condo listings are shooting up like a SpaceX rocket. Forget the old-school 2,000 listings mark; we might be looking at a new normal of 3,000.

Interest Rates: The Plot Twist

The Bank of Canada’s acting like it’s in a Tarantino movie—totally unpredictable. An interest rate hold in October could chill things out, but even the rumor of a hike has people freezing up.

To List or Not to List, That’s the Million-Dollar Question

You thinking about cashing in on your condo? Unless you’re in a tight spot and *have* to sell, you might be throwing money away. It’s like going to Vegas and betting it all on red—risky.

Don’t Go Cheap on Your Squad

Listen, you wouldn’t go to a back-alley dentist, so don’t skimp on a real estate agent. Saving a bit on commission now could cost you big bucks later. Get someone who knows the turf.

Wrap It Up

The Toronto condo market’s like a Rubik’s Cube right now—complicated but solvable. There are opportunities, but you’ve gotta play it smart. Get the right advice, and you won’t be leaving money on the table.

Book a Consultation: Book a call directly with me for personalized advice.

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Urban Markets: Downtown & Surrounding Areas
House Average Price: $1,617,500
House Median Price: $1,580,000
595 Active Listings
61 Firm Sales This Week
Months of Inventory (MoI) 1.82- DOWN from 1.92 last month
Average Days on Market (DOM) 12.23

Condo Average Price: $772,522
Condo Median Price: $724,500
2439 Active Listings
72 Firm Sales This Week
MoI 3.87- DOWN  from  3.91 last month
DoM  21.62

 

Rosedale, Deer Park, Moore Park, Forest Hill, & Lawrence Park
House Average Price: $2,937,167
House Median Price: $2,365,500
186 Active Listings
12 Firm Sales This Week
MoI 2.78 – UP from 2.69 last month
DoM ~ 10.25

Condo Average Price: $1,198,333
Condo Median Price: $1,175,000
252 Active Listings
3 Firm Sales This Week
MoI 3.48 DOWN from 3.64 last month
DoM ~ 21.33

 

Leaside, Davisville, Yonge & Eglinton

House Average Price: $2,714,225
House Median Price: $2,497,500
75 Active Listings
1 Firm Sales This Week
MoI ~ 1.45 – DOWN from 1.59
DoM  7.33

Condo Average Price: $799,360
Condo Media Price: $655,000
183 Active Listings
19 Firm Sales This Week
MoI 2.82 DOWN  from 3.04  last mth
DoM ~ 20.9

Birch Cliff

House Average Price: $813,667
House Median Price: $801,000
46 Active Listings
3 Firm Sales This Week
MoI 2.03 UP from 1.69
DoM 14

Kingston Rd Corridor to Highland Creek

House Average Price: $1,540,500
House Median Price: $1,540,500
115 Active Listings
2 Firm Sales This Week
MoI 2.53 DOWN from 2.59
DoM 20.33

Condo Average Price: $506,667
Condo Median Price: $570,000
59 Active Listings
3 Firm Sales This Week
MoI 2.58 DOWN from 2.80
DoM 41

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