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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Tuesday, October 7, 2025

Toronto condo prices slumped again in September

Toronto’s condo market continued its downward slide in September, with average prices falling to levels not seen in years—even as sales activity picked up across the city.

The average price for a Toronto condo apartment dropped to $655,231 in September, down 4.3% from the same month last year. Within the city of Toronto proper (the 416 area), the average was $681,115, a 3.8% year-over-year decline.

The surrounding 905 region saw an even steeper drop of 5.4%, with average prices at $606,275. These figures mark the lowest point for condo prices in the region in at least four years, according to the latest data from the Toronto Regional Real Estate Board (TRREB).

Despite the price drop, condo sales in Toronto rose 7.2% year-over-year, with 1,437 units changing hands in September.

Sales up, but recovery remains distant

While overall home sales in the Greater Toronto Area rose 8.5% year-over-year, the average selling price for all home types fell 4.7% to $1,059,377. New listings climbed 4% to 19,260, but active listings remain high, keeping pressure on prices. The composite benchmark price for the region was down 5.5% from last year.

A Canada Mortgage and Housing Corporation report found that Toronto’s condo prices are declining at rates similar to the early ‘90s, but expects prices to rebound within a few quarters, rather than the seven-year slump seen three decades ago.

Still, Anne-Elise Cugliari Allegritti, Royal LePage’s vice president of research and communications, cautioned buyers not to assume these lower prices will last. Even if waiting makes sense now, she said, the window of opportunity may close sooner than expected.

“There could be another year or so of this sort of sweet spot of opportunity for anyone who’s looking to get into a condo in Toronto,” she told Canadian Mortgage Professional.

“But I can’t imagine it will last forever because we’ll get to a point where there’s just no new supply coming on the market."

First-time buyers face tough choices

Even with falling prices, many first-time buyers remain priced out of detached homes, which averaged $1.36 million in September.

“It’s just more likely that a first-time buyer can get into a condo than anything else,” Cugliari Allegritti said. “So in other words, they don’t have much other option except for condos.”

Some buyers are holding off, hoping for better deals. With possible Bank of Canada rate cuts ahead, those not in a hurry are saving more and carefully planning to buy when the time feels right.

CMP

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