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Toronto Condo Market Report February 2023

Publication date:
February 17, 2023
Article Summary: 

The Toronto condo market report for February 2023 indicates that sales have remained stable compared to December, suggesting a potential bottoming out of the sales cycle. However, the expected peak for the upcoming spring market may not be significant. Price changes over the last 12 months have varied across different areas and property types, with average price decreases exceeding those measured by the Home Price Index, indicating a shift in the sales mix. Buyers prefer move-in ready properties, contributing to a shortage of saleable listings. Additionally, there's a shift in buyer strategy towards buying now and refinancing later, anticipating potential increases in real estate prices. In the rental market, there has been an increase in activity, but rents are leveling off after significant increases in 2022.


Toronto condo market, February 2023, sales summary, price changes, 416 area, 905 area, buyer preferences, saleable listings, rental market, rental analysis, rental rates, market balance.

Source Citation: 
Toronto Condo Market Report February 2023
February 17, 2023
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