With our population increasing and the average price for condos in downtown Toronto nearing $1000/sqft, buyers and builders are looking elsewhere for new opportunities and better value. To help understand these shifts, we compiled data on population growth and active builds in Toronto to reveal where developers are breaking ground and how these up-and-coming urban hubs are shaping Toronto’s tomorrow.

In February of this year, there was record-breaking new higher-density development starts in Toronto. According to the Canadian Mortgage and Housing Corporation (CMHC), February had a preliminary total of 5,283 new dwelling starts in high-density housing. These dwelling types include all housing types except single-detached homes. The CMHC defines ‘housing starts’ based on developments that have laid a construction foundation. They use this monthly total to create a rough estimation of yearly totals if the monthly trend were to continue for the whole year. Based on the February trend, 2018 could see 63,396 new higher-density housing starts, though that is very unlikely.

The weather in Toronto might be refusing to accept the arrival of spring, but Toronto real estate is a force of nature all its own. For buyers and especially sellers, the spring real estate season is here! We’ve used sales data from the month of February to look at 2018 condo market trends in Toronto and how the spring season is shaping up.

Looking to buy a condo in downtown Toronto? Read this first.

Last year we saw a huge surge in price increases across the Toronto real estate market. The rapid growth was an anomaly compared to previous years, as a wave of demand shifted from the Vancouver market into Toronto, but let’s not overlook the insights last year can offer. Whenever you see a surge in activity, you’ll get a look at market demand factors.

The yearly increase in value was different from neighbourhood to neighbourhood across Toronto in 2017. We collected data on the neighbourhoods with the highest annual price growth in the condo market. While it’s unlikely that 2018 will see the same level of price growth, looking at the 2017 data could lead us in the right direction concerning which neighbourhoods are worth watching this year.

Now more than ever, we believe it’s important to help educate the public on the importance of urban planning, and that’s why we’re are thrilled to introduce:

As the City of Toronto reaches the status of a world class city, we are also facing a moment of great transformation. Our population is growing, our neighbourhoods are evolving, and our urban planning must rise to meet the needs of this new city. The goal is to help Toronto become a city where its buildings, streets, parks, and community spaces are designed so everyone can live happy and healthy. The question is how? What is the vision for Toronto’s tomorrow? What is the challenge facing our city planners and our builders?

There is a current trend in the thinking about Toronto condo real estate. A current mindset, if you will. You’ve probably heard it already. You might even believe it yourself. But it’s a way of thinking that we would highly advise against because it’s simply unrealistic and could lead to big disappointments.

It goes like this. A new buyer, let’s call him Bill, meets with his real estate agent and says he’s looking to buy into the condo market as soon as possible. He wants to hold his property for 16 months or so, and then sell it off. Bill is thinking to cut his risk quickly and cash in on some short-term appreciation.

You could argue that all condos in Toronto are experiencing an extremely high level of demand these days, but there are some buildings across the city that take the cake, so to say. We collected data on the average days on market (D.O.M.) for all condos in downtown Toronto, and it revealed some of the most sought-after buildings in the city. You have to move pretty fast if you want to catch a chance to buy a condo in one of these buildings, but there are some people primed and ready to purchase when the time comes.