Until now, the condo market has been the last remaining bubble in TORONTO’s overheated real estate market, with prices hitting a record high in 2018 – and the average unit selling for more than $1,000 a square-foot. – URBANATION
Demand for new projects has slowed and long lineups have virtually disappeared. “I think those days of the modern gold rush, where every developer was selling out within 30 days are gone,” said real estate agent ADAM BRIND of Core Assets.
“You can’t just throw up a sign and say ‘we’re launching this’, and have a huge lineup.” Some see this as a healthy return to a normal market.
<PHOTO ABOVE – condo listings on Bay Street in 2017>