Is now a good time to buy a Toronto apartment? Feb 2025

Except for a brief bause in March and April 2024, Toronto apartment prices have been dropping since June 2023. This is a reversal of the nearly constant upward trend beween 2016 and 2022.

Typically, Early spring is a “tighter” market with fewer condo apartments for sale in Toronto and more homebuyers looking, which puts upward pressure on prices.

Then, by late Spring and Summer, there are fewer active buyers and active listings tend to accumulate. This eases the upward pressure on prices and favours buyers.

While the Toronto apartment market is balanced, and buyers and sellers have equal negotiating power, inventory levels have improved in favour of buyers over the past year. Months of inventory increased from 3.5 to 6—up 71 percent!

The Toronto condo apartment market is now balanced. It is a better time to buy than a year ago. Condo apartment buyers can expect fewer bidding wars.

The number of Toronto condo apartments purchased in January was similar to last year, but the number of aartments for sale has risen. That’s why the months of inventory have increased.