Toronto’s Condo Market Is on Tenterhooks

Toronto’s troubled condo market is no secret, but it may be facing steeper declines than investors are ready for. According to the Toronto Real Estate Board, condo values in the city have declined by 5% since their peak in the third quarter of 2022. Notwithstanding this drop and the recent interest rate cuts, the amount of available stock remains slow to sell, and the pool of buyers appears to have largely evaporated.