There’s a noticeable shift happening in Midtown Toronto, and this month’s numbers really tell the story. If you’ve been keeping an eye on the condo market in the Yonge and Eglinton area — whether as a buyer, seller, or investor — here’s what you need to know.
One-Bedroom Prices Continue to Slide
The average price for a one-bedroom condo in July came in at $528,328. That’s a 2.9% drop from June and a 12.7% decrease compared to July 2024. In other words, prices have rolled back to levels we haven’t seen in a while, opening the door for first-time buyers and investors to get into the market with a bit more breathing room.
Two-Bedroom Condos Are Also Trending Down
Two-bedroom units followed a similar pattern, averaging $735,226 for the month. That’s 9.5% lower than June and down 12.3% year-over-year. What’s especially interesting here is that the price gap between one- and two-bedroom units is narrowing. For buyers looking to upsize, the jump to a larger space isn’t as steep as it was even just a month ago.
A Softer, More Balanced Market
This continued price decline across both one- and two-bedroom segments is creating a more balanced environment. For buyers, it means less pressure and a chance to take their time. For sellers, strong presentation and realistic pricing are going to be more important than ever.
We’re not seeing signs of an immediate rebound. Instead, the market appears to be entering a slower, steadier phase where informed decisions can take centre stage.
What to Watch Heading into Fall
Looking ahead, the next few months will likely be shaped by interest rate decisions, broader economic indicators, and seasonal shifts as we move toward the fall market. If we see a cut in rates, that could bring some renewed activity, but any rebound is expected to be gradual rather than dramatic.
For now, the Midtown condo market is settling into a pace that may actually work better for everyone — a little less frenzy, a little more opportunity.
📺 Watch the full video update above for a deeper dive, and if you have any questions about buying or selling in Midtown, reach out anytime.
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