New Condos For Sale in Toronto.
Toronto, Canada’s largest city, is a bustling and quickly growing metropolis, well known as a world leader in finance, technology, and entertainment. Located along the northwestern shores of Lake Ontario, the iconic freestanding CN Tower rises 1,815 feet into the sky, and majestic skyscrapers grace the city’s ever-changing skyline. Whether you are an investor or looking to call Ontario’s capital your new home, Toronto offers the best in big-city living.
Home to world class transit options, some of North America’s busiest major thoroughfares, local and brand name shopping, a vibrant arts, culture, and entertainment scene, and plenty of natural greenspaces including expansive parks and scenic waterfront trails, there is always something to see and do. All this and so much more makes Toronto the great city it is, a very exciting place to live, work, and play.
Toronto’s downtown core is exploding with constant growth. Proximity to employment hubs, educational institutions, transit, and lifestyle amenities is prime real estate for developers and the ultimate convenience for potential buyers. The demand for housing in Toronto has increased annually and the supply just can’t keep up. With housing in high demand, more luxury condos are now becoming even more common outside of the downtown core. Developers are now seeking prime land close to major thoroughfares, transit lines, and family friendly amenities to build their next projects.
A red-hot Toronto real estate market slowed in the latter half of 2022 as interest rates continued to rise, posing hesitation amongst homebuyers. The GTA saw 25,400 new homes sold in 2022, the lowest number of new home sales since 2018 and 29% lower than the 10-year average. New condos saw a benchmark price of $1,131,614 in December 2022, a 2.8% dip over the last 12 months. However, the benchmark price for new single-family homes in December 2022 was $1,753,3566, a slight rise after 4 months of declining prices as buyer demand and builder supply were more closely aligned, but still down 4.2% over the last 12 months.
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