#toronto-real-estate

#toronto-real-estate

Toronto's condo sales have hit a new low for the month of September with just 53 new condo units sold in the city as the market continues to face consequences due to housing affordability. Just 155 condo units were sold across the Greater Toronto Area last month, down 44 per cent from September 2024 and 90 per cent below the 10-year average, according to data by Altus Group on behalf of the Building Industry and Land Development Association (BILD) released Tuesday. BILD's CEO said the sales are low because of the high cost of building due to government fees and taxes.

"What really stands out to us is that the rental market has lost its sense of urgency... people scramble to secure a unit within the first few hours..."