"[He] has been renting for the last eight years, just saving his money, Milonas told CBC Toronto. We had a chat pre-Christmas and he was like, What do you think? Is this the right time for me?' TRREB says lower condo prices could lead to another housing shortage if the current inventory is bought up quickly. (Cole Burston/Canadian Press) Milonas has now had that question from a handful of renters, and based on the current market, he's told most of them to go for it."
"For the city of Toronto as a whole, the average price was down to $690,607 in the fourth quarter of last year, compared to $715,920 for the same period the year before. TRREB meanwhile reported 3,880 condo sales in the same period down by 15 per cent compared to the year before. Lower prices are the result of buyers regaining some bargaining leverage, according to Jason Mercer, TRREB's chief information officer."
Some bachelor and one-bedroom condos in Toronto are selling for under $400,000, prompting renters who previously thought ownership was unattainable to consider buying. Several prospective buyers who have been renting and saving are entering the market, and some realtors are advising them to purchase given current conditions. TRREB data shows GTA average condo selling prices fell 5.1% year‑over‑year in Q4 2025, with one neighbourhood averaging $384,333 and Toronto’s average down to $690,607 from $715,920. Condo sales numbered 3,880 in that period, down 15% year‑over‑year. Lower prices reflect increased buyer negotiating power, but quick absorption of inventory and fewer new builds could create another housing shortage.
Read at www.cbc.ca
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