In the Greater Toronto Area, we’re seeing a notable shift in the condo market. Average home prices have dipped by 2.7%, landing at $993,410, while condos are now averaging $617,593. What stands out the most is that smaller condos under 500 sq ft are experiencing the steepest declines. With an abundance of investor-focused units available, it’s become typical for most condos to sell below their list price. As someone who guides buyers through every step of their home purchase, I keep a close eye on these trends to ensure my clients have the most up-to-date information when making decisions. Whether you’re a first-time buyer or considering a sale, understanding these market shifts is crucial to achieving satisfying results.
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