Real Estate

Condo Market Check-In: Are We at the Bottom? So how’s the market doing, you might ask? I recently pulled some stats for a client that I thought were too interesting not to share with you. And just to be clear — we’re talking condo apartments only here (no houses, no townhomes). The Big Picture That’s a 6% drop so far this year. 2025 Month-by-Month What’s unusual? Even though prices started rising after July, the average days on market actually increased to 40 days in September. Normally, you’d expect faster sales as prices climb — but not this time. Sales Volume So… was July the bottom of the condo market? Maybe. Only time (and October’s numbers) will tell. (If you’d like to view the charts we used for this data, please reach out to me) Rent vs. Buy: Time to Rethink? With prices this low, more renters are starting to ask: Why am I paying so much rent when I could own? Let’s break it down: (Remember — property taxes and maintenance fees are extra in all of the above examples.) But if you’re already paying $2,300+ in rent, it may be time to consider whether that money could be better spent paying down your own mortgage instead of someone else’s. If you’ve been waiting for a sign to buy a condo, consider this it. The deals are out there. The question is, are you ready to grab one? We’re Toronto Real Estate expert Realtors and we’d love to help you. We just listed a fabulous suite in Yorkville that I’m so excited about! It’s a fully renovated one-bedroom with a bathroom, parking, and locker at 40 Scollard, right across from the Four Seasons Hotel. Imagine being steps from some of my favourite restaurants—Trattoria Nervosa, The Oxley, Kasa Moto, Sassafraz, Bar Reyna…the list goes on. If you or someone you know has been dreaming about the Yorkville lifestyle, this might be the perfect fit.

Canadians are tightening their wallets, and it’s showing up everywhere—from grocery aisles to restaurant tables and even in the Toronto condo market. Recent consumer spending data reveals that people are cutting back on travel, entertainment, and dining out while paying closer attention to deals, loyalty programs, and ways to save on everyday purchases. At the same time, condo buyers are facing rising maintenance fees and shifting price trends. Here’s a closer look at how Canadians are spending (or not spending) their money, and what it means if you’re thinking about buying a condo in Toronto. How Canadians Are Spending Their Money (Or Not) Lately, the question on everyone’s mind isn’t how Canadians are spending their money, but where they’re choosing not to. Consumer spending data from Moneris & Angus Reid Group—pulled from Apple Pay, Google Pay, and credit card transactions—shows a clear shift in our priorities. Pulling Back on Fun, Spending on Comfort Spending on travel and entertainment is down, while dollars going toward home, wellness, and personal support are up. Even eating out has taken a hit. According to OpenTable, restaurant bookings are down 3%. Three-quarters of Canadians are dining out less often, and when they do, many are cutting back on extras like appetizers or that second glass of wine. Grocery Shopping Gets a Makeover Nearly 9 out of 10 Canadians (89%) have changed their grocery shopping habits just in the last month. How? And brand loyalty? That’s out the window. Over half of Canadians have switched brands in at least one category to save money: The takeaway: Canadians are becoming more deliberate and cost-conscious about where their money goes. What This Means for the Condo Market The belt-tightening isn’t just visible in grocery aisles or restaurants—it’s showing up in Toronto’s condo market too. We’re seeing more caution, fewer showings, and slower offers. And prices dipping below $1,000 per sq. ft. are no longer rare. On top of that, maintenance fees have become a major factor. What used to average between $0.65 and $0.75 per sq. ft. has now crept up over $1.00 per sq. ft. in many buildings, with some as high as $1.20. Inflation, combined with the aftershocks of COVID, has put a serious strain on condo boards’ budgets. How to Keep Condo Fees in Check If you’re shopping for a condo and want to avoid sky-high fees, here are a few things to keep in mind: Spend Smart, Live Well From grocery carts to condo boards, Canadians are learning to spend more carefully. If you’re thinking about making a move, I’d love to help you find a home that makes sense for your lifestyle and your wallet. If you’ve been waiting for a sign to step off the sidelines, consider this it. The deals are out there. The question is, are you ready to grab one? We’re Toronto Real Estate expert Realtors and we’d love to help you. We just listed a fabulous suite in Yorkville that I’m so excited about! It’s a fully renovated one-bedroom with a bathroom, parking, and locker at 40 Scollard, right across from the Four Seasons Hotel. Imagine being steps from some of my favourite restaurants—Trattoria Nervosa, The Oxley, Kasa Moto, Sassafraz, Bar Reyna…the list goes on. If you or someone you know has been dreaming about the Yorkville lifestyle, this might be the perfect fit.

If you’ve been half-watching the Toronto market while waiting for a bell to ring at the “bottom,” here’s your reminder: nobody rings it. The only thing you get in real time is opportunity, and right now, the signs are getting louder. What September’s Numbers Say (and why they matter) Meanwhile, condos remain the most pressured segment. Multiple analyses show condo values have lagged other property types this year as new supply and investor fatigue weigh on pricing, particularly in Toronto’s core. For end-users, that is exactly where better buys are showing up. Ground Truth From the Trenches On the ground, more buyers are raising their hands. Not a stampede, but intent is real, especially among people who have been pre-approved, watching for a softer entry point, and finally seeing it. What This Means If You’re Buying You have leverage and options. Inventory remains elevated versus last year, and sellers are negotiating on price, timing, and conditions. In a hot market you win a new fridge; in this one, you can win equity. If you’re condo-curious, the spread between list and sold is widest where supply is deepest. Pair that with today’s slightly better affordability from the recent rate cut and you have a rare window to buy well, not just buy now. Smart next steps: What This Means If You’re Selling Strategy beats vibes. With buyers selectively back, the winners are the listings that show flawlessly and are priced to the market that exists, not the one you wish we had. Expect more scrutiny on comps, carrying costs, and building health for condos. Smart next steps: The Bottom Line No, this does not mean prices are off to the races. Benchmark values are still down year over year, and nobody gets a notarized “today is the bottom” memo. But sales are up, new listings are growing more slowly, and a slight monthly price uptick together signal a market that is starting to tighten at the margins, even as condos remain the most negotiable lane. If you’ve been waiting for a sign to step off the sidelines, consider this it. The deals are out there. The question is, are you ready to grab one? We’re Toronto Real Estate expert Realtors and we’d love to help you. We just listed a fabulous suite in Yorkville that I’m so excited about! It’s a fully renovated one-bedroom with a bathroom, parking, and locker at 40 Scollard, right across from the Four Seasons Hotel. Imagine being steps from some of my favourite restaurants—Trattoria Nervosa, The Oxley, Kasa Moto, Sassafraz, Bar Reyna…the list goes on. If you or someone you know has been dreaming about the Yorkville lifestyle, this might be the perfect fit.

If you’ve been keeping one eye on the Toronto condo market while nervously waiting for the “perfect” moment to jump in, we need to talk. You know the feeling. You read the headlines, see the inventory, but a little voice asks, “Is this really the bottom? What if I buy now and prices drop more?” Let’s be real: that hesitation is completely normal. In fact, it’s what almost every buyer is feeling right now. But here’s the truth nobody ever tells you: Nobody rings a bell at the bottom of the market. You will never get a 100% guaranteed, signed-and-sealed signal that today is the absolute lowest point. The “bottom” is only ever visible in the rearview mirror. So, if you’re waiting for that, you might be waiting forever. What you can act on is opportunity. And right now, for condo buyers, the opportunity is significant. What “Buyer’s Market” Really Means for You You’ve heard the term, but let’s break down what a true buyer’s market actually looks like on the ground: “But You’re Just a Realtor Trying to Sell Me Something…” I get it. I know that’s what some of you are thinking. And you’re not wrong to be skeptical! But from my perspective, in the trenches of the Toronto real estate market every single day, I’m not just seeing spreadsheets and graphs. I’m seeing real people getting real deals. I’m seeing the relief and excitement on a buyer’s face when we secure a fantastic condo at a price that seemed impossible a year ago. This isn’t about pushing a sale; it’s about recognizing a clear window of opportunity and pointing it out to the people who have been patiently waiting for it. So, if you’ve been looking and waiting for a sign… consider this it. This is your sign that it’s okay to stop waiting on the sidelines. This is your sign that the power has shifted, and it’s time to explore what’s possible. The deals are out there. The question is, are you ready to grab one? If you’ve been thinking about buying a condo in Toronto, let’s have a no-obligation conversation about what’s possible in today’s market.