TORONTO CONDO MARKET: Recovery or Mirage?

Toronto Condo Market Stats: A Closer Look

Last month, Toronto condo prices rose from $707K to $721K, despite high inventory and weak demand. Could this mean the market has bottomed out? While data suggests some stabilization, challenges remain beneath the surface.

Toronto Real Estate Condo Market Highlights

Toronto Condo Inventory: Down nearly 4% to 5,884 suites. However, inventory remains unusually high for October compared to previous years.

Toronto Condo Sales: Up 35% from September, with 1,162 condos sold. Yet demand still lags behind pre-pandemic Octobers.

Toronto Condo Supply vs. Demand: The ratio improved, hinting at stabilization, but the market remains a buyer’s market.

Time to Sell: Average days on market climbed to 32, longer than typical Octobers.

Months of Toronto Condo Inventory: At 4.9 months, signaling ongoing weakness.

Hidden Challenges
Toronto Condo Shadow Inventory: New construction assignments, often sold privately, inflate actual inventory.

Toronto Condo Investor Losses: Many pre-construction buyers face financing challenges as appraisals fall below purchase prices, leading to deposit losses and increased supply.
Investment Risks

Toronto Condo Negative Cash Flow: For a typical new condo, expenses far exceed rental income, leaving investors reliant on appreciation.

Tenant Issues: Evictions can take up to 9 months, adding further risks for landlords.

Bottom Line
While Toronto condo prices have risen, hidden pressures and investment risks suggest the market remains fragile. Is buying a new construction condo still a smart move? Share your thoughts!

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Thinking of moving to Toronto? Let us help!
Call or Text: 416-618-4424
Email: [email protected]
Request a time for a phone chat or zoom: https://calendly.com/elizabethmachula...
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Elizabeth Machula
Real Estate Broker
Right At Home Realty Inc.
130 Queen’s Quay East #506
Toronto
M5V 3Z6
cell 416 618 4424

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