2018 Predictions

  • Wilson Sisters
  • 16 January 2018

As 2018 begins many are asking us what to expect this year in Toronto real estate. No one knows for sure, but we have our opinions. 

  1. We expect 2018 to be another banner year for condos and lofts. As affordability has been pushed downward due to the stress test and rising interest rates, more buyers will be turning to condos and away from the houses they can no longer afford. We expect to see (and already are seeing) multiple offers on condos on a very regular basis. $850-900 per square foot in some buildings is pretty common place downtown Toronto right now, with $1000-1100 per square foot in hard lofts in some areas on special properties already happening. It's possible that $1000 psf will become more the average this year. 
  2. Large condos with 2-3 bedrooms will be more popular than ever as buyers are looking for more low maintenance and less expensive housing options for their families.
  3. We think the freehold market will remain pretty flat in 2018. There is still a lot of demand for freehold homes in Toronto, so sales will happen, but we think that prices will remain pretty static, or see a very modest increase. Staging and marketing properties properly will be more important than ever, but sellers should not expect quite the same activity and steep price increases that happened last year, nor the speed of sales - it may actually take more than a week to sell! Choosing the right sales team will be very important this year so choose wisely. 

For more information please don't hesitate to reach out to us. Happy New Year. It's going to be another exciting year in Toronto real estate!