You Won’t Believe What’s Happening to Toronto Condos

About this Video

• Video Title: You Won’t Believe What’s Happening to Toronto Condos
• Channel: Tom Storey
• Speakers: Tom Storey
• Duration: 11:08

Introduction

This video analyzes the current state of the Toronto condo market, focusing on a correction impacting different property types. The speaker, Tom Storey, presents data on active listings and sales over the past 30 days, broken down by the number of bedrooms, to illustrate the varying market conditions across condo categories.

Key Takeaways

• Toronto Condo Market Correction: The Toronto condo market is experiencing a correction, with a significantly high number of active listings.
• Bedroom Count Matters: Market performance varies significantly based on the number of bedrooms. Smaller units (bachelor and one-bedroom) are struggling, while larger units (two-bedroom and above) are faring better.
• Months of Inventory: The video uses "months of inventory" (active listings divided by sales) as a key metric to assess market conditions. Higher months of inventory indicate a buyer's market.
• Buyer's Market: Toronto is currently in a buyer's market for condos, particularly for smaller units. Months of inventory exceeding six months signals a buyer's market, while those below three months represent a seller's market.
• Price Impacts: While not drastic, prolonged high inventory levels (over 8-10 months) may lead to downward price pressure, primarily affecting smaller units.