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It's the best time to buy in the GTA

Donald Bilodeau

Take advantage of this turning point in the Toronto real estate market. Make a wise move with the help of a licensed realtor, like me.


Million dollar condo in Toronto Ontario Canada
The best time to buy condos in Toronto starts now and will last for many months.

The Toronto Regional Real Estate Board (TRREB) has indeed reported a resurgence of buyer activity in the housing market, which can be attributed to several factors. A significant contributor is the recent decrease in interest rates, which has made mortgages more affordable and attractive to potential home buyers. Lower borrowing costs often encourage more people to enter the market, including first-time buyers who may have been waiting for more favorable conditions.


A realtor and his client shakes hands on a recent purchase of a home in Toronto Ontario Canada
Buyers have more bargaining power as the glut of condo inventory will take many months to sell off. As interest rates continue to decrease, more buyers will enter the market increasing competition and likely prices.

More Bargaining Power

In addition to this, the surplus of inventory in the Greater Toronto Area (GTA) has provided buyers with a wider range of options and more bargaining power. More available properties typically lead to increased competition among sellers, potentially creating opportunities for buyers to negotiate better deals. This combination of factors — reduced mortgage rates and greater property selection — is making the current environment especially appealing for buyers across various housing categories, from single-family homes to condos.


The Well in Downtown Toronto, built by TRIDEL
One of the most exciting new locations in Downtown Toronto is The Well, built by reputable builder TRIDEL. This massive complex offers unique lifestyle experiences, currently unmatched in Toronto.

More Buyers Returning to the Market

For sellers, this return of buyer demand means it may be a good time to list properties, as there is a greater chance of selling at competitive prices. September 2024 marks a turning point in what's been described as a sluggish spring and summer market. Month-over-month, September home sales increased 8.2 per cent. In May, sales rose 3.56 per cent — the last month-to-month increase before declining in the summer. 


Gorgeous condo living, dining and kitchen with spectacular views from large balcony.
Location, amenities, lifestyle, views, and functional spaces are but some of the reasons buyers choose condominiums over houses. Both are viable options with different appeal to home owners. Looking for convenience and low to no maintenance, consider buying your first or trading up to or downsizing to a condo in Toronto.

Great Opportunity to Enter the Market or Trade Up

Although sales increased year over year for all property types, from a 10.5 per cent increase for detached, 12.6 per cent for semi-detached, 14.3 per cent for townhomes, condos saw a negligable increase of only 0.8 per cent. As such, there's a larger than normal inventory of condos listed and that represents a huge opportunity for buyers to enter the market or trade up to a larger unit. Right now and for many months to come, the condo buyer has more bargaining power than ever before. An opportunity like this comes once in a blue moon. The shrewd buyer will recognize that it's the best time to buy.


Making your next move

Home ownership is a big decision. Enlist the help of an experienced and patient realtor to help simplify and guide you through every stage of your journey.


Working with Donald

Donald's real estate practice began in 2013, buying, selling and leasing residential and commercial properties across the Greater Toronto Area and the province of Ontario. Working closely with buyers, sellers, and landlords, Donald combines a decade+ of experience, attention to detail, fully bilingual service, and strategy, with a sunny, practical disposition. Clients respond very positively to his full-service approach to real estate transactions, where his clients' satisfaction matters most.


Reach out to Donald Bilodeau, experienced realtor with Sutton Group-Associates realty Inc., a reputable brokerage based in Yorkville.




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