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Toronto Market Report-July 2023
Author:
Remax-Condos-Plus
Publication date:
July 18, 2023
Article Summary:
The Toronto condo market report for July 2023 shows a decline in sales compared to the previous four years, with a forecast of the lowest sales since 2002. The lack of listings has been supporting real estate prices, but with sales slowing down, more listings are expected, leading to a potential 'buyers' market' with flat to lower prices. The pre-construction condo market has a significant premium compared to resale prices, prompting buyers to opt for projects outside of Toronto. Additionally, the rental market is seeing an increase in demand due to record immigration and restrictions on buying for non-citizens and non-permanent residents.
Keywords:
Toronto, condo market, sales, listings, buyers' market, pre-construction, resale prices, rental market, immigration, rental prices, demand.
Source Citation:
Remax-Condos-Plus
Toronto Market Report-July 2023
July 18, 2023
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