Single-family homes are selling briskly in Toronto, but condos are likely to stay on the market for a while as builders complete new projects and buyers can pick over the substantial inventory, The Globe and Mail reports.

Christopher Bibby of Sutton Group Associates tells the paper it took three months to sell a two-bedroom condo he represented in a “highly desirable” downtown building because there were 10 other similar units for sale in the same building.

Geon van der Wyst of Royal LePage Real Estate Services Ltd. says the “new reality” for condo sellers is that if they set asking prices too high, buyers won’t even come forward with a lowball offer. Source:

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Time is running out to secure your Connect Now tickets at the lowest price. Don't miss out on a chance to grow yourself and your business.Learn More×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription