The Yonge & Eglinton condo market has taken a surprising turn this month, with numbers we haven’t seen in years. Whether you’re a first-time buyer, an investor, or just keeping an eye on Midtown Toronto trends, August’s stats are worth a closer look.
One-Bedroom Condos: A New Level of Affordability
The biggest story right now is one-bedroom condos. The average price in August came in at $494,605, which means many units in this category are now selling for under half a million dollars.
This is a major affordability shift in one of Toronto’s most popular neighbourhoods. For first-time buyers who may have felt priced out before, this opens the door to opportunities that didn’t exist just a year ago. For investors, one-bedrooms are looking especially attractive at these levels.
Two-Bedroom Condos: The Numbers Need Context
On paper, two-bedrooms look even cheaper, averaging $571,236 in August. Compared to both last month and last year, this looks like a sharp drop. But here’s the important detail, that average is based on just six sales.
With such a small sample size, the data can be misleading. It doesn’t necessarily reflect a true reset in the two-bedroom market, but it does suggest that demand in this segment is softer right now.
What This Means for Buyers and Sellers
- Buyers: If you’ve been waiting for an entry point into Yonge & Eglinton, one-bedrooms are the most affordable they’ve been in years.
- Investors: The one-bedroom category may present new value opportunities.
- Sellers: Two-bedroom averages look weak, but the limited sales data means it’s not the full story. Pricing strategy is more important than ever in this environment.
Looking Ahead: September Will Be Key
The big question is whether these affordability levels will last. September is traditionally one of the busiest months in the real estate calendar, and it will be the first true test of whether buyers return to the Midtown market in greater numbers.
If sales activity picks up, we could see more stability return to both the one- and two-bedroom segments. But for now, August stands out as one of the most surprising months in Yonge & Eglinton’s condo market in recent memory.
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