Toronto’s presale condo market is evolving, and I’m seeing some fascinating trends. Two boutique projects—one near Yorkville and the Annex, the other in north Toronto—are meeting the needs of buyers who want more than just an investment. In fact, the Yorkville/Annex building is about 40% sold, and many buyers are combining smaller units to create customized homes averaging around $3 million. Meanwhile, the north Toronto project has trimmed its total units to about 500, focusing on larger, more livable spaces, with plenty of two-bedroom and even some three-bedroom options. Both projects are clearly appealing to downsizers or those seeking a luxury upgrade, even if it means a slower sales cycle than we’ve seen during Toronto’s real estate booms of the past. One developer is even moving ahead with its own capital despite modest presales, while the other is eyeing a 2027 construction start after reaching its financing milestones. These shifts reflect what I hear every day—people are looking for quality, comfort, and a home that truly fits their lifestyle, not just another investment. If you’re thinking about how these trends might affect your own real estate goals, I’m always here to share insights and help you make sense of the market.

The Toronto condo market is feeling the squeeze as trade tensions and rising material costs impact construction economics. Recent data shows fabricated metal costs are up 2.1% this quarter, and structural steel has climbed 1.8%. For a city where so many projects rely on steel and rebar—already priced at a premium—these increases matter. With fewer new condo developments breaking ground, Toronto is especially sensitive to these shifts. The combination of weakened condo starts and higher construction costs adds a layer of risk for anyone looking at opportunities or planning their next move. Staying ahead of these trends and understanding their real impact on property values has always been part of my approach. Whether you're buying, selling, or investing, I believe thoughtful guidance and deep local knowledge are key to navigating times like these.

Halloween falls on October 31 because the ancient Gaelic festival of Samhain, considered the earliest known root of Halloween, occurred on this day.
In the eighth century, Pope Gregory III designated November 1 as a time to praise all saints.
Soon, All Saints' Day incorporated some traditions of Samhain and the evening before was known as All Hallows Eve, and later Halloween.
Over time, Halloween evolved into a day of activities like trick-or-treating, carving jack-o-lanterns, festive gatherings, donning costumes and eating treats.
Today’s the day to eat candies and sweets to your heart’s content! Happy Halloween!

This past Late-Q3, the Greater Toronto Area saw 5,040 home sales—a decrease of about 9% year over year. Interestingly, new listings dropped even more sharply, down nearly 14% to 16,500. This subtle tightening nudged the sales-to-new-listings ratio up a bit to roughly 31% from 29%, but it’s important to note this shift was driven by fewer homes hitting the market, not an uptick in buyer demand. Both the average selling price and benchmark price declined by about 5% compared to last year, while active listings finished the quarter at 26,100, also down 9%. That leaves inventory sitting at just over five months of sales—virtually unchanged from last year.

On average, homes sold in 34 days, but when accounting for relisted properties, the true timeline stretched to 51 days. This longer exposure isn’t always obvious at a glance, so it’s something I always help my clients unpack when reviewing comparable sales. While the raw average price crept up month over month to $1.01M, the adjusted figures tell a slightly softer story, highlighting the importance of careful, informed pricing strategies in today’s evolving market. With fresh inventory supporting more accurate comparable reviews, it’s clear that setting a realistic asking price is key—automatic price jumps simply aren’t happening. Navigating these shifts takes both experience and local knowledge, and I’m committed to guiding clients through every nuance so they can make confident decisions, whether buying, selling, or investing.

Toronto’s affordability story continues to evolve, with Q2 bringing a modest improvement—aggregate affordability dipped by about 1 point to 64% across all housing types. While this is a positive move, Toronto still ranks as one of the least affordable markets among those tracked. What’s driving the change? Strong income growth is providing some welcome relief, even as home prices begin to stabilize. This quarter’s improvement is the smallest since the recovery began in Q1 2024, but it’s still progress—and Toronto is outpacing most other markets.

For those seeking a more accessible entry point, condos are now at their most affordable since 2017. That’s a noteworthy shift for buyers looking to make their first move or expand their investment portfolio. Even so, the city’s overall affordability remains the second toughest among major markets—just a point away from a potential ranking change.

Having guided clients through many market shifts like these, I know how crucial it is to interpret these trends for your next step, whether you're buying, selling, or investing. A nuanced understanding of local data helps ensure your decisions are as informed and strategic as possible in Toronto’s ever-changing landscape.