Have you been waiting for the right time to enter Toronto’s real estate market? Whether you’re ready to buy your first home or you’re looking to invest, there are some fantastic opportunities on the market right now. Of course, current conditions are a little unusual—and understanding them is key.

Here’s what Toronto condo buyers should know right now…

1) There’s Been A Recent Influx Of Inventory

Toronto has seen an increase in condo inventory over the past few months. That’s because the city has implemented the short-term rental registry. Owners must now register their rental properties—and they can only be within their primary residences. This stipulation has led many investors to put their units on the market. With the rise in remote working, many condo owners are also selling to move up into single-family homes or larger spaces, providing buyers with even more options.

2) You’re In A Good Position

It’s not often that we see a buyer’s market in Toronto, but Toronto condo buyers seem to have the edge right now. Many condo owners are eager to sell because their rentals are sitting vacant (due to fewer international students and visitors) or because they want to move up. Seller motivation is a huge factor in how the purchasing process plays out and can be used to your advantage.

3) Current Conditions Are Temporary

While condo demand and prices have recently decreased on average, these conditions won’t last forever. Toronto’s market offers strong, long-term appreciation rates—which is a good thing if you plan to sell one day. This is a rare opportunity to get into the market and leverage that growth for a high return later on down the road.

4) Working With A Condo Expert Is Key

Though the current market has its advantages, working with the right condo expert will help you maximize your buying success. When you work with our team, you’ll have an experienced condo expert on your side who knows the market, local numbers, and will negotiate to help you secure the best price and conditions.

See our latest condo listings here to start your search. Or, arrange for an appointment to meet your condo expert and get to know us better.