As we head into fall, Toronto’s Entertainment District continues to show movement, especially in the condo market. Let’s take a closer look at how September shaped up for one of the city’s most active urban neighbourhoods.
One-Bedroom Condos: Prices Down, Activity Steady
The average price for a one-bedroom condo in September was $542,110, down 3.7% from August and 13.2% lower than last September. That’s a meaningful year-over-year drop, reflecting how affordability has shifted over the past twelve months.
Even so, activity in the entry-level segment remains steady. Buyers are still out there, but they’re being careful about what they spend. Units that show well and are priced competitively are still attracting solid interest – the key is getting that pricing right.
Two-Bedroom Condos: Gradual Softening in Values
Two-bedroom condos averaged $748,946 this September, marking a 4.4% decline from August and an 11.7% decrease year-over-year. Sales volumes for two-bedrooms have stayed fairly consistent over the past few months, so this drop likely reflects a genuine softening in values rather than a one-off data blip.
Buyers in this segment are being more selective, and sellers are adjusting expectations to meet where the market is currently trading. The focus now is less on achieving last year’s prices and more on aligning with what buyers are willing to pay today.
The Bigger Picture
Overall, the Entertainment District remains one of Toronto’s most active condo markets. One-bedrooms continue to hold their ground in terms of activity, while two-bedrooms are experiencing some price pressure.
As we move through the fall, all eyes are on whether buyer activity will pick up again or if prices will continue to find their new baseline. For now, September paints a picture of a market that’s adjusting, but still very much alive and moving.
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