The Toronto Entertainment District condo market had a mixed performance in August, with one-bedroom and two-bedroom units moving in very different directions. Here’s a closer look at what’s happening in one of the city’s liveliest downtown neighbourhoods.
One-Bedroom Condos: Signs of Resilience
After months of steady declines, one-bedroom condos showed a rebound in August. The average price came in at $562,703, up 5.6 percent from July but still 6.2 percent lower than last year.
This rebound suggests that buyer demand at the entry level remains alive. It’s not yet clear if this is the start of a broader recovery or just a temporary summer uptick, but it’s a positive signal for first-time buyers and investors focused on smaller units.
Two-Bedroom Condos: Continued Pressure
Two-bedroom condos averaged $783,409 in August, marking a 7.6 percent decline from July and a sharp 12.2 percent drop compared to last year.
However, it’s worth noting that this figure is based on just 11 sales. With such a limited sample size, the numbers may not fully represent the true state of the two-bedroom market. Even so, the trend indicates that larger units are facing more downward price pressure than smaller ones.
The Bigger Picture: A Split Market
One-bedrooms are showing signs of stability, while two-bedrooms continue to soften. This split reflects a downtown market where buyers are still active but are more budget-conscious, gravitating toward smaller, more affordable units.
With the fall market just around the corner, the key question is whether one-bedroom momentum will carry forward or if the softness in two-bedrooms will pull the broader market down. For now, August presents a cautious but interesting picture: resilience at the entry level and uncertainty for upsizers.
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