Author name: Davelle & Co

Key Takeaways at a Glance 53 Sold listings analyzed across midtown Toronto $370K – $1.1M Sold price range $333 – $1,588/mo Maintenance fee range Smallest condos (under 500 sqft) command the highest price per sqft at $1,567/sqft — nearly double the rate of larger units The 600–699 sqft range is the most active, representing 32% of all transactions (17 of 53 listings) Maintenance fees scale sharply with size: from $361/mo (micro-units) to $1,333/mo (1,200+ sqft) The most maintenance-efficient size tier is 500–599 sqft at just $0.83/sqft/month Where Are Buyers Active? Listing Distribution by Size The midtown Toronto condo market remains concentrated in the 600–699 sqft range, which accounts for 32% of recent transactions. Notably, this dataset includes a broader spread of larger units — nearly a quarter of listings are 700 sqft or more. Average Sold Price by Square Footage Range Sold prices rise broadly with unit size, from an average of $391K for micro-units under 500 sqft to $944K for units in the 1,000–1,199 sqft range. The jump from 800–899 sqft ($764K) to 900–999 sqft ($805K) is modest, while the 1,200–1,399 sqft tier averages $855K — slightly below the 1,000–1,199 tier — reflecting the limited sample and the mixed vintage of larger units in this market. Key Insight The sharpest price jump occurs between the 600–699 sqft tier ($543K) and the 700–799 sqft tier ($645K) — a $102K gap for just 100 additional square feet. Price per SqFt: The Small-Unit Premium Micro-units under 500 sqft trade at a significant premium of $1,567/sqft — nearly double the rate seen in the 600–699 sqft tier at $836/sqft. After that initial drop, price per sqft stabilizes in a relatively tight band of $836–$899/sqft across the 500–899 sqft range, before declining again for the largest units (1,200+ sqft at $658/sqft). Key Insight The 1,000–1,199 sqft tier averages $1,055/mo in fees — but one outlier unit at 18 Merton St carries $1,588/mo, underscoring how building vintage and amenities can dramatically affect carrying costs. Wide Variability Within Each Size Tier Average fees tell only part of the story. Within each size tier, maintenance fees can vary by hundreds of dollars per month — driven by building age, amenities, and reserve fund health. The 1,000–1,199 sqft tier shows the widest spread: from $444/mo to $1,588/mo. * Spread = Maximum minus Minimum fee within the tier Most Maintenance-Efficient Size: 500–599 SqFt When maintenance fees are measured per square foot per month, the 500–599 sqft tier emerges as the most cost-efficient at just $0.83/sqft/mo, closely followed by 600–699 sqft at $0.85/sqft/mo. Key Insight The 500–699 sqft range offers the best balance of space, price, and carrying costs — making it the sweet spot for buyers focused on long-term affordability. How Maintenance Fees Relate to Sold Price There is a general positive correlation between maintenance fees and sold price — but the relationship is loose, with significant outliers driven by building age and amenity level. The most active tier (600–699 sqft) sold for $420K–$648K with fees ranging from $420/mo to $843/mo — a $423/mo spread for units of the same nominal size. The highest-fee unit, 18 Merton St #302 (1,068 sqft), carries $1,588/mo in fees — reflecting its boutique two-storey layout and full-service amenities in an older building. Best value in the 1,000+ sqft category: 8 Hillsdale Ave E #1732 sold for $999K with only $444/mo in fees — a newer building with significantly lower carrying costs. What This Means for Buyers & Investors 1. The 600–699 sqft tier remains the most liquid With 32% of all transactions (17 of 53), the standard one-bedroom remains the dominant trade in Midtown. This size offers the broadest buyer pool and fastest resale potential. The market is more evenly spread across sizes than in prior periods, however, signalling growing demand for larger units. 2. Micro-units carry a steep price premium Sub-500 sqft units average $1,567/sqft versus $836/sqft for the 600–699 tier — an 88% premium per square foot. Unless the entry price is a hard constraint, buyers get substantially more space and better long-term value by moving up to the 500–699 sqft range. 3. Always scrutinize the maintenance fee Within the 600–699 sqft tier alone, fees range from $420/mo to $843/mo — a difference of $5,076/year. Over a 5-year hold, that’s over $25,000 in additional carrying costs. Building age, reserve fund health, and included utilities are critical factors that the listing price alone does not reveal. Data Notes & Methodology DATA SOURCE PlatformREALM MLS shared portal — 53 unique sold condo listings GeographyMidtown Toronto: Yonge-Eglinton corridor, Mount Pleasant West, Davisville Village Sale DatesApproximately late 2024 through May 2026 Property TypeCondo apartments and stacked townhomes; all sold (not listed) transactions METHODOLOGY Square FootageTRREB-reported sqft range used for tier classification; midpoint of each range used for $/sqft calculations Maintenance Fees Monthly maintenance fees extracted directly from individual listing detail pages as reported by listing agents AveragesSimple arithmetic means used for all averages; medians reported separately for fee variability analysis LIMITATIONS Sample SizeThe 900–999 sqft and 1,200–1,399 sqft tiers each contain only 2 listings — treat those averages as directional, not definitive Excluded Listings0 listings excluded from the main analysis; all 53 listings had valid sold price and sqft range data Special Assessments One-time special assessments and reserve fund deficiencies are not captured in the reported maintenance fee figures

We finally had a few warmer days this past week and it definitely felt like the city came alive again. Patios started filling up, parks were busy, and for the first time in a while it actually felt like spring in Toronto. This week I spent some time digging through Outline Financial’s latest Mortgage & Economic Update and there were a few things that really stood out to me, especially as they relate to the Toronto real estate market. First, the Bank of Canada once again decided to hold its overnight rate steady at 2.25%, marking the fourth rate hold in a row. Prime remains at 4.45%. While many people were hoping rate cuts would continue this year, the conversation has shifted a little. Rising oil prices, global uncertainty, and ongoing trade tensions are making the Bank of Canada more cautious right now. At the same time, Canada’s unemployment rate has now climbed to 6.9%, which is higher than expected, while job losses continue to add up nationally. Inflation also ticked up again to 2.8%, although much of that increase was tied to higher gas prices. So what does all of this mean for real estate? Honestly, I think it explains why so many buyers are still in “wait and see” mode. There’s a lot of uncertainty in the economy right now and people are trying to figure out where rates, jobs, and affordability are all heading next. But here’s the interesting part… Even though buyers are nervous, affordability has quietly improved quite a bit compared to a few years ago. According to the report, the average GTA condo apartment price has fallen from approximately $726,000 in April 2023 to about $636,000 today. Mortgage rates have also improved from roughly 5.29% down to around 4.29%. That means the estimated monthly carrying cost on the average condo is now significantly lower than it was a few years ago.We’re also continuing to see more buyers choosing fixed-rate mortgages again instead of variable rates, likely because people simply want predictability right now. Another thing we’re watching closely is the condo market — particularly pre-construction. The report discussed rising mortgage arrears, increasing insolvencies, and concerns around condo defaults as some buyers who purchased years ago are now facing very different financing conditions at closing. And yet despite all of that uncertainty, there are still pockets of the market performing very well. Well-priced houses in desirable neighbourhoods are still attracting strong attention and in some cases multiple offers. Condos continue to require more patience and negotiation, but buyers today have something they haven’t had in years: options, leverage, and time to think. As I keep saying lately, this market isn’t impossible, it’s just different.The buyers and sellers who are doing the best right now are the ones making thoughtful, informed decisions instead of emotional ones. And honestly? That’s probably healthier for the market long term. Have a great week everyone. If you know of anyone who needs to buy or sell, please make sure they call Davelle. My First Home: How to Buy Smart in Toronto We recently launched My First Home, a free online magazine designed to help first-time buyers navigate Toronto’s market with confidence. Click here to read it and feel free to share it with anyone who might benefit: Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: Beautiful 3-Bedroom Family Home (2 Bettina Pl) Space to spread out. Space to come together. And a backyard that feels like your own private retreat. This beautifully updated family home offers 3 bedrooms, 4 bathrooms, and the kind of thoughtful layout that gives everyone room to breathe. A welcoming living room at the front of the home creates the perfect spot to gather with guests, while the open-concept kitchen, dining, and family room—with cozy gas fireplace—becomes the true heart of the home. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

We hope you enjoyed the May long weekend. It was nice to finally feel some warmer temperatures… even if they only stuck around for a couple of days. This week, the Canadian Real Estate Association released its latest national housing market statistics for April. Here were some of the key highlights: CREA Chair Garry Bhaura noted that while many buyers are still in “wait and see” mode, the overall direction of the market showed improvement in April. Sales increased, days on market declined, and prices continued to stabilize. Early trends suggest May may continue along the same path. One statistic that always catches my attention is something called “months of inventory.” At the end of April, Canada was sitting at 5.2 months of inventory nationally, slightly higher than February and March due to the influx of new spring listings. So what exactly does that mean? In real estate, “months of inventory” (also called the absorption rate) measures how long it would take to sell all of the homes currently on the market if no new listings were added. Here’s how we generally interpret it: Why does this matter? Because months of inventory gives us a quick snapshot of: And, of course, real estate is always about location, location, location. These figures are national, but local markets can behave very differently. Some neighbourhoods and property types are still seeing competition and multiple offers, while others are giving buyers much more room to negotiate. If you’d like help understanding what’s happening in your specific market or situation, feel free to call or text us anytime. We’d be happy to help. If you know of anyone who needs to buy or sell, please make sure they call Davelle. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

I don’t know about you, but I am really, really ready for some warmer temperatures. It’s been an incredibly cold spring and I think we’re all overdue for patio weather, evening walks, and finally putting the winter coats away for good. This week, we attended the Toronto Regional Real Estate Board’s (TRREB) Quest Conference where both Michelle Obama and Malcolm Gladwell spoke. Michelle Obama spent a lot of time discussing what it was like trying to raise her daughters as normally as possible despite growing up in the White House, something most of us can’t even begin to imagine. What really stood out to me though was her message about kindness, empathy, and the importance of how we treat one another during uncertain and divisive times. It felt like a timely reminder, especially in a world where everyone seems to be moving so fast. On the real estate front, I was recently interviewed by the Financial Post regarding Toronto’s spring market and what we’re seeing on the ground right now. While headlines continue to focus on uncertainty, buyers are slowly starting to re-engage with the market in certain pockets of the city, especially when properties are well-priced and move-in ready. You can read the article here: Toronto home sales highest for the year so far in first full month of spring (Financial Post) One thing I continue to notice is that buyers are being incredibly selective. The properties that show well, are priced properly, and feel turnkey are still attracting attention, while overpriced listings are sitting longer and requiring price adjustments. As always, if you’re curious about what’s happening specifically in your neighbourhood or building, don’t hesitate to reach out. If you know of anyone who needs to buy or sell, please make sure they call Davelle. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

Condo Fees: The Cost That Scares Buyers (But Shouldn’t) Let’s talk about something that almost every buyer reacts to the same way, condo maintenance fees. There’s often a bit of sticker shock when you first see that monthly number. And I get it. Writing a cheque every month for something you don’t directly “use” can feel frustrating. But here’s what’s really happening behind the scenes. That fee isn’t just for convenience, it’s for protection. Elevators need servicing. Hallways need cleaning. Concierge, property management, and day-to-day operations all need to be covered. But more importantly, a portion of your maintenance fees goes into the building’s reserve fund. Think of the reserve fund as your building’s long-term savings account. Because just like a house, things will eventually need to be repaired or replaced, roof, windows, HVAC systems, parking garages. The difference is, in a condo, those costs are planned for in advance. Without a healthy reserve fund, buildings can be forced to issue special assessments and those can range anywhere from $2,000 to $30,000 per unit. Not exactly a surprise expense most people are prepared for. This is why reviewing the status certificate (the building’s financials) with a knowledgeable real estate lawyer is so important before making your purchase firm. What Are Fees Running Right Now? A few years ago, you’d typically see maintenance fees around $0.65–$0.75 per square foot. Today, we’re more commonly seeing $1.00–$1.20 per square foot, and sometimes higher. If a building falls above that range, it’s worth digging deeper: And here’s something I always flag for clients… When fees in a newly built condo seem unusually low, that’s not always a good thing. Developers often set fees years in advance. Once the building is registered, a new condo board commissions a reserve fund study, and that’s when fees are often adjusted (sometimes significantly) to reflect the true cost of maintaining the building long-term. If You’re Trying to Keep Fees Lower, Keep This in Mind: The Trade-Off The benefit of condo living is predictability. Instead of being hit with unexpected repairs like you might in a house, you’re contributing monthly toward those future costs, whether you realize it or not. It’s less about paying more… and more about paying smarter. Quick Market Note This week, the Bank of Canada held its key interest rate steady, with no changes. We’re continuing to see a “wait-and-see” approach from policymakers, but on the ground, buyers are still active and making strategic moves where they see value. If you’re weighing condo options (or trying to decide if fees are “too high”), this is exactly the kind of nuance we help clients navigate every day. The market doesn’t reward certainty, it rewards the people who are willing to understand it first. Reach out anytime, happy to walk through it with you. If you know of anyone who needs to buy or sell, please make sure they call Davelle. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: 4+2 Bedroom Victorian Dream House at Queen/Dundas (103 Manning Ave) Craving space to grow into? Welcome to your Victorian dream, where character, thoughtful updates, and family friendly living come together on a beautiful tree lined street between Queen and Dundas. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

The Ontario government recently announced a proposed HST rebate for new home buyers who sign purchase agreements between April 1, 2026 and March 31, 2027. On paper, it’s a big number. For homes priced between $1M and $1.5M, the rebate could be as much as $130,000. But before that headline pulls you in, there are a few things worth understanding. First, the fine print: Construction must begin by December 31, 2028, and be substantially completed by December 31, 2031. Second, this hasn’t actually passed yet. And third, it only applies to pre-construction homes and condos. So What Happens Next? The assumption is that if this gets approved, developers may adjust pricing to reflect the rebate. But that’s far from guaranteed. And even if they do… you have to ask yourself: Are you actually getting a deal, or just paying today for a future promise? The Bigger Question: Does Pre-Construction Even Make Sense Right Now? Before chasing a rebate, this is the real conversation. According to Urbanation, unsold pre-construction condos are currently averaging around $1,189 per square foot. Meanwhile, in the resale market, we’re seeing condos, some in great buildings, trading at or below $1,000 per square foot. So the question becomes: Why pay more for something you can’t walk through, can’t fully evaluate, and may not see for years? Because with pre-construction, you’re buying: (Yes, even that awkward pillar in the middle of your living room.) What We’re Seeing on the Ground In today’s market, resale is offering something pre-construction can’t: Clarity. That last point matters more than ever right now. Our Take The HST rebate makes for a great headline. But it doesn’t automatically make pre-construction the better decision. Right now, resale is often delivering better value, more certainty, and far less risk. And in this market, that’s what smart buyers are prioritizing. Sometimes the opportunity isn’t in the incentive, it’s in the property that already exists. Ultimately savvy buyers aren’t waiting for incentives, they’re quietly taking advantage of what’s already in front of them. If you know of anyone who needs to buy or sell, please make sure they call Davelle. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: 4+2 Bedroom Victorian Dream House at Queen/Dundas (103 Manning Ave) Craving space to grow into? Welcome to your Victorian dream, where character, thoughtful updates, and family friendly living come together on a beautiful tree lined street between Queen and Dundas. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

As Realtor, we are always asked, how’s the market? So here’s our take on what we’re seeing. What the Numbers Are Quietly Telling Us If you just look at headlines, you’d think the market is flat. But when you zoom in a little closer, a more interesting story starts to unfold. The median price of a semi-detached home has ticked up slightly. Nothing dramatic, but after the typical July slowdown and the usual December dip, the trend line is starting to lean upward again. The detached market? Almost identical pattern. A soft summer, a holiday pause… and now a subtle recovery. That’s not a coincidence. It’s a signal. And then there’s condos. They’re still following that same seasonal rhythm. Down in July, down again in December. But unlike houses, they haven’t quite found their footing yet. Prices are still hovering slightly below where they were, despite earlier signs that we might be turning a corner. So what does this actually mean? It means we’re not in one market. We’re in two very different ones: And this is where it gets interesting. Because the buyers who understand this… are already moving. They’re not chasing headlines. They’re watching patterns. They’re making decisions based on where the opportunity is, not where the noise is. What We’re Seeing on the Ground This Week? There’s been a noticeable shift lately and it’s not showing up in the stats yet. Buyers are starting to prioritize parking in a way we haven’t seen in years. Even in neighbourhoods where permit street parking has always been the norm, we’re seeing a clear pattern: when buyers have the choice, they’re choosing homes with parking over those without. And it’s not just us. We’ve checked in with other agents across the city, and they’re reporting the same thing. In a market like this where buyers have options, they’re becoming more selective. And parking has quietly moved from a “nice to have”… to something much closer to a requirement. And this is exactly what a selective market looks like. Not everything moves equally and small details are starting to matter in a big way. If you know of anyone who needs to buy or sell, please make sure they call Davelle. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: 4+2 Bedroom Victorian Dream House at Queen/Dundas (103 Manning Ave) Craving space to grow into? Welcome to your Victorian dream, where character, thoughtful updates, and family friendly living come together on a beautiful tree lined street between Queen and Dundas. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

Why Bond Yields Matter (Even If They Sound Boring) If you’re trying to understand the spring market right now, you’re not alone. Because what we’re seeing isn’t one market, it’s several happening all at once. And this week perfectly illustrated just how unpredictable things can be. Here’s what we’re seeing from the trenches right now: A furnished executive condo rental Surprisingly, this one is getting a lot of interest. In fact, more than when we listed a very similar unit in the same building just a few years ago. That tells us that well-presented, turnkey rentals are still very much in demand, particularly for professionals who want flexibility. A home in Trinity Bellwoods For a home of this size, we’ve been encouraged by the number of showings. Buyers are out there, especially when the location is strong and the home checks the right boxes. A home in highly desirable Leslieville This one has been quieter than expected. It’s a great home in a great neighbourhood, but it currently has tenants living in it. In today’s market, that can make buyers hesitant. Whether it’s scheduling challenges, uncertainty around possession, or simply not being able to fully picture themselves in the space. A beautiful Midtown home This one has generated a ton of interest. No surprise here. When homes are well-prepared, well-located, and show beautifully, buyers are still raising their hands. A 1-bedroom condo with parking This one surprised us. It’s priced very competitively and perfect for a first-time buyer, yet it hasn’t seen much activity. This is another example of how selective buyers are right now. So what does all of this mean? The market isn’t slow, let’s call it selective. Buyers are being thoughtful. They’re comparing options. They’re waiting for the right home. And when the right property comes along, they act. That’s why preparation, pricing, and presentation matter more than ever. In today’s market, two homes in the same neighbourhood, or even the same building, can have completely different outcomes. And that’s where strategy really matters. If you’ve been wondering how your home might perform in today’s market, we’d be happy to share what we’re seeing and what buyers are responding to right now. Because in this market, understanding the nuances can make all the difference. If you know of anyone who needs to buy or sell, please make sure they call Davelle. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: Renovated 3-Bedroom Detached House in Leslieville (14 Coady Ave) Morning coffee. Evening wine. Leslieville living. This turnkey Leslieville gem beautifully renovated detached home checks every box. The open-concept main floor showcases a stunning chef’s kitchen with high-end appliances, wine fridge, and seamless flow, perfect for entertaining family and friends. For Sale: 4+2 Bedroom Victorian Dream House at Queen/Dundas (103 Manning Ave) Craving space to grow into? Welcome to your Victorian dream, where character, thoughtful updates, and family friendly living come together on a beautiful tree lined street between Queen and Dundas. For Sale: 3+2 Bedroom Detached House in Davisville (8 De Savery Cres) Welcome to this extra-wide, beautifully updated semi in the heart of prime Davisville, where space, style, and everyday functionality come together in one of Midtown’s most sought-after neighbourhoods. For Sale or Lease: Immaculate 2-Bedroom Suite on Bay Street (62 Wellesley St W 1402) Behold, an immaculately designed, hotel-worthy executive suite, freshly renovated and stylishly furnished for the discerning urbanite. For Lease: Bright 2-Bedroom Condo in Queen St E (60 Haslett Ave #301) Morning coffee on your balcony, a quick stroll to the boardwalk, and the beach just minutes away – welcome to easy living close to The Beach. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.