REAL ESTATE MARKET RECOVERY
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MLS condo sale listings in the 416 have dropped to 1320, not too far off the April 2019 numbers of 1100. MLS condo rental listings have dropped to 4400 (from 8200 in October 2020), roughly double the April 2019 number of 2100.
This shows the quick recovery from the terrible recession that COVID-19 brought to the condo real estate market. Condo prices in the 416 have already recovered from the losses last year. I predict that by August 2021, Toronto’s rental market will have made a full recovery with prices back to early March 2020. If you are looking to rent in the 416, don’t fool around – it will get more expensive.
Brad J. Lamb