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submitted 3 months ago by MakingWork@lemmy.ca to c/ontario@lemmy.ca

Only 319 new condo units were sold in the third quarter, down 54 per cent from a year ago and the lowest quarterly total since 1990 when Toronto’s condo market faced a severe crash, according to a quarterly condo report by the real estate research firm Urbanation.

Lemmings, what are your opinions on the housing market?

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[-] MakingWork@lemmy.ca 3 points 3 months ago

Do you think it will drop more? What is a fair price?

[-] lobut@lemmy.ca 1 points 3 months ago

I think it'll drop more? I don't see any uptick specifically with respect to the condo market just yet? My friend who's a real estate agent says it's going to go further but he's like very Chinese and his analysis is based on Feng Shui so I don't know how I feel about that.

A fair price is harder to pin down because there are different types of condos in different locations with different amenities as well. Also, as much as I hate housing costs in Toronto and it is high. This is a global phenomenon too. So like, personally, I'd just want housing to be in the reach of a regular Canadian with a decent salary but there's so many macroeconomic factors at play that a "fair price" is something I'm genuinely not qualified to answer.

[-] MakingWork@lemmy.ca 2 points 3 months ago

It's so hard to predict the future. From one had the demand is there- lots of people are looking for homes and condos. From another hand, sales are low which will drop prices more.

Very difficult to say.

this post was submitted on 22 Oct 2025
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