The inventory is continuing to build in Toronto, with slightly more listings coming on the market then are selling, although it is still competitive for the quality/unique properties. This week was less active is terms of new listings, but I am seeing an uptick in unique/quality listings, which is giving my clients more options. Overall the market downtown is continuing to become more balanced. Some new listings may be a reaction to the new mortgage restrictions in January, with some sellers choosing to pre-empt a softening freehold market.
Outside of lofts, inventory in the condo market is still low for the discerning buyer. There are very few units available in buildings I consider to be premium buildings. There are signs that condominium appreciation is coming down to earth a bit, which was expected once prices on freehold homes dropped. Although not lasting long, there are actually quite a few hard lofts coming to the market, which is great for us!
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