Toronto Condo Market: What Just Happened?

First man!!

Me Second !!! 😆

Things are going well for both buyers and sellers.

Gotta remember a lot of sellers are end users that need to buy something else (either upgrading or moving to another area). Sellers dont want to sell at depressed prices UNLESS they can buy another property at those same prices.

BoC signalled a pause to start the year in 2025, so there's no more reductions in lending rates. Means a stable market where people can make a move instead of watching for rates news.

Spring 2025 will be more active than 2023 and 2024. People expecting a crash will die waiting for a crash, people expecting for price increases need to wait until 2028 when 0 new condos are coming on the market. For the majority of buyers and sellers, it'll be a stable time to make a move. (no more rate swings until late spring or start of summer)

I would like to know the characteristics of the condos selling. Are people buying mostly 2 bedroom? The vast majority of condos are shoebox 1 bedroom and less. Who wants these condos unless the price is very low.

Prices increases great price stays same for 20 years so be it. Just as long it’s not considerable less than what we paid for

How do they come up with the months of inventory calculation? Is it units available divided by number of units sold in the same month?

Yeyyy!!! little lower and a huge chunk of Surrey's population will move to Toronto
Steve's clients will sell and buy from you. Win-win

You can keep your tiny cages in the super congestion... no thanks

For the average condo investor, cash flows keep improving as BoC keeps cutting rates. Inventory is going to keep declining as the over leveraged uneducated speculators offload their units. We’re close to an inflection point. Why would one sell if they are making money every month holding? To pay the government a ton of tax on the sale? 😂

Excellent Tom!❤

Thank you. Great, as always.

I think since we're seeing such a distorted market, with the various governments doing so many things to pump housing prices from high development charges to backstopping mortgage insurance to tax-free savings accounts I'm not sure that long-term trends will hold.

Great video, as always, Tom. May I ask, what is that program you are using to quickly check data and create graphs on the fly? Is this available to me as a Realtor?

What’s your ph #? I’m thinking of buying a gta condo. Would like to call you and talk. TY?

Balanced market is good.

With condos big enough for one kid selling at 650-700, and employers no longer growing or even laying off employees, how will prices not go lower. We live in Montreal and we find it expensive enough when you factor in the 600$ a month heating cost during winters, but we don't understand how Toronto new families can make it there while saving.

FTHB of a Condo here. My thesis was partly correct - prices of anything in the 416 halfway liveable are super glued. There will never be a crash. However, the gap between freeholds and condos are going to get bigger which is a headache for people getting on the housing ladder.