Economics
Mansions Languish, Condos Pop as Toronto Homes Sales Face Spring Test
- Getting the price right is crucial as buyers become pickier
- Demand remains hot for cheaper projects next to a subway
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A one-bedroom condo plus den listed at C$648,000 ($483,600) in Toronto’s east end has been sitting on the market for weeks. A similar unit in the same building priced C$69,000 cheaper ended up selling way over asking.
Whether it’s an apartment in a glitzy new skyscraper or a mansion in exclusive Forest Hill, pricing has become paramount as Canada’s biggest city heads into the busy spring property season. As the market stabilizes after a year of plunging sales, condos sales are a mixed bag and big detached homes are hard to shift.