Condo Prices in Toronto Won't Stay This Low — Why Now Is the Time to Act

Let me be honest with you. I talk to buyers every day who tell me the same thing: "I'm waiting for the right moment." And I get it. Buying a condo in Toronto is a big decision. But if the data is telling us anything right now, it's that the right moment is here — and it won't last forever.

I'm Tory Akene, AI-certified REALTOR® with Real Broker Ontario Ltd., and I spend my days watching the GTA market numbers. Here's what I'm seeing: the condo segment is quietly becoming the hottest story in Toronto real estate. And if you've been sitting on the fence, this is the conversation you need to have with yourself.

The Condo Market Is the Growth Story Nobody's Talking About Enough

In June, condo sales across the GTA jumped 14.3% year-over-year. That's the strongest growth of any home type in the region. Detached? Semi? Townhouse? None of them matched the condo segment. And this isn't a one-month fluke. GTA sales have been climbing for four consecutive months now, from March through June.

At the same time, new listings dropped 12.9% year-over-year. Fewer homes coming onto the market, more buyers stepping in. That's the kind of supply-and-demand equation that pushes prices up.

The average GTA home price now sits at $1,058,658. And the Bank of Canada? They held rates steady. That means your mortgage payments are predictable right now. No surprises. No panic. Just a stable, knowable monthly cost for the foreseeable future.

Here's the Part That Matters Most

Despite the 14.3% sales jump, the condo Sales-to-Active-Listings ratio is still under 20%. What does that mean for you? It means the market is still in buyer's territory. You have negotiating power. Sellers are motivated. You can take your time, compare options, and make a smart offer without the pressure of a bidding war.

But here's the thing about buyer's markets: they don't last. Not when demand is building this fast. Once the SAL ratio climbs above 20%, the dynamic flips. Sellers regain the upper hand, prices firm up, and that window of negotiation closes. The data says we're heading in that direction. The question is whether you act before or after the shift.

What Waiting Could Cost You

Let's paint a picture. There are over 100,000 sidelined buyers in the GTA right now. A huge chunk of them are first-time buyers, and first-time buyers target condos. When those buyers decide it's time to move — and they will, especially if rates eventually drop — the condo market will see a wave of demand unlike anything we've seen in the past two years.

Think about what that means for a property like Unit 608 at 50 George Butchart Drive. Located in the Concord CityPlace area of North York, this two-bedroom, two-bathroom condo delivers floor-to-ceiling windows, an upgraded kitchen with custom cabinetry and quartz countertops, in-suite laundry, a parking spot, and a locker. Building amenities include a gym, yoga studio, media room, kids' play room, indoor/outdoor lounge, and BBQ area. Condo fees even include internet.

A unit like this in a location like this won't stay at today's prices once demand fully returns. The math is simple: condo sales are already surging. Once the SAL ratio crosses 20% and the sidelined buyers jump in, the negotiating advantage you have today evaporates.

There's another angle too. Every month you rent, that money is gone. Every month you own, that money goes toward equity. Monthly condo fees plus rent equals zero return. Monthly condo fees plus mortgage equals something you own. The difference is everything.

The Bottom Line

The condo market in Toronto is at a turning point. Sales are rising, inventory is shrinking, and the conditions that favour buyers today won't be here six months from now. If you've been waiting for a sign, this is it. The data is clear, the window is open, and the opportunity is real.

Condos are the most affordable entry point into Toronto's real estate market, and prices are still below last year's levels. Combine that with stable rates, motivated sellers, and a historic number of buyers on the sidelines, and you get a rare moment where the numbers line up in your favour.

Don't let the window close while you're still deciding. Let's talk about what Unit 608 could mean for you and how to lock in your buying power before the market shifts.