At the end of 2024, the condo market in the GTA continued to decline, with sales dropping to their lowest level since 1996. Only 802 new units were sold, while inventory rose to a record 24,277 units. Average asking prices for new condos fell to $1,338 per square foot. The pre-construction market is struggling, with only 22 projects launched last year. Future housing supply is expected to decrease significantly, leading to potential price increases in 2026 and beyond. Investors are encouraged to act before the market shifts back to a seller's market.
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