Let's be honest, when someone says "new condo development" in Toronto, most of us immediately picture another boring glass box. You know the type - floor-to-ceiling windows that look impressive in the marketing photos but leave you feeling like you're living in a fishbowl, and interiors that scream "builder-grade everything."

But here's the thing about River City in the West Don Land, it's nothing like what you'd expect from a Toronto condo development. And trust me, that's a very good thing.

Wait, This is Actually a Masterplan?

Before we dive into the buildings themselves, let's talk about what makes this area special. The West Don Lands used to be, well, pretty much nothing. Industrial wasteland that most Torontonians probably drove past without giving it a second thought. But Waterfront Toronto had this crazy ambitious idea to transform 32 hectares (that's 80 acres, for those keeping track) into an actual neighbourhood where people would want to live, work, and hang out.

River City is the residential heart of this transformation. Instead of just plopping down some towers and calling it a day, they brought in Saucier + Perrotte Architects and ZAS Architects – two firms that actually win awards for making buildings that don't look like every other building in the city.

The result? A four-phase development where each building feels like it's part of an ongoing conversation rather than just another random addition to the skyline.

These Buildings Actually Have Personality

You know what's refreshing about walking through River City? The buildings look like they were designed by humans who actually think about how spaces feel, not just how they photograph for marketing brochures.

In a city where "luxury" often just means granite countertops and a concierge desk, River City proves that real luxury is living in a place that was designed with intention and care. It's what happens when architects, planners, and developers actually talk to each other and maybe even think about the people who'll be living in these places.

Bold Architecture That Actually Works

Take River City Phase 3 at 170 Bayview Avenue – this 29-storey tower looks like someone took the traditional condo tower concept and decided to have some fun with it. Picture black and white boxes that look like they've been randomly stacked by a very artistic giant playing with building blocks. And it absolutely works.

Phase 2, completed back in 2015, introduced those dramatic white volumes that cantilever out from the building like they're defying gravity. With 249 loft-style units, it proved that Toronto could handle architecture that actually takes risks.

The whole development uses this bold language of contrasting materials – matte black here, glossy white there – that creates amazing shadow patterns throughout the day. It's like the buildings change their mood depending on the light, which is pretty cool when you're looking out your window during your third Zoom call of the day.

Smart Solutions to Real Problems

Here's where River City gets really clever. Remember how this used to be flood-prone industrial land that nobody wanted? Instead of pretending the Don River doesn't exist, they worked with it. The whole community sits on elevated parkland, which means great views for residents and no worrying about your underground parking turning into an indoor swimming pool during heavy rainfall.

This isn't just clever engineering – it actually makes the neighbourhood feel special. You're living above the action but still connected to it, with bioswales and permeable surfaces handling stormwater the way nature intended. It's like they actually read the memo about climate change and decided to do something about it.

Street Life That Doesn't Suck

Can we talk about how most Toronto condos completely fail at street-level design? You get these weird dead zones where the building meets the sidewalk, maybe a Subway sandwich shop if you're lucky, and that's about it.

River City actually gets this right. The retail spaces feel integrated into the neighbourhood fabric instead of like afterthoughts. Wide sidewalks, decent overhangs for our unpredictable weather, and storefronts that actually invite you to look inside. Grabbing your morning coffee feels like a neighbourhood ritual instead of a chore.

Living Spaces Designed for Actual Humans

Step into a River City unit and you can tell someone actually thought about how people live. Those floor-to-ceiling windows aren't just there to show off – they bring natural light deep into the space, which matters more than you think during those long Toronto winters.

The layouts feel genuinely spacious rather than "spacious for a Toronto condo," which is usually code for "you can fit a queen bed if you don't mind climbing over it to get to the closet." The open-concept designs work because they're actually planned, not just because someone knocked down a wall and hoped for the best.

They even thought about storage that actually makes sense. Built-ins that acknowledge people own things, closets designed by someone who has apparently worn clothes before, and kitchen layouts that don't require you to be a contortionist to reach the dishwasher.

Most Toronto condo balconies are just big enough to use as lookouts – wide enough to fit a single chair if you don't mind your knees touching the railing. River City throws that playbook out the window. The terraces here are deep enough for actual furniture and conversations that don't require shouting over traffic.

The Right Kind of Density

Toronto's been trying to figure out how to fit more people without making everyone miserable, and River City offers some pretty good answers. The mid-rise scale means you get that neighbourhood feeling without sacrificing the convenience of urban living.

What's really smart is the mix of unit types. You've got everything from studios for the just-out-of-university crowd to larger units for families who want to stay downtown. It creates the kind of demographic mix that makes neighbourhoods actually interesting instead of just expensive.

Why This Matters for the Rest of Toronto

River City isn't just another development – it's proof that Toronto can do better than the glass box monotony that's taken over so much of the city. It shows that taking time to actually design buildings and neighbourhoods creates value that goes way beyond property values.

As Toronto keeps growing (and it definitely keeps growing), River City demonstrates that thoughtful planning and quality design can create communities that make the city better rather than just more crowded. With addresses like 170 Bayview Avenue now setting a new standard for what Toronto condos can be, it's about time the rest of the city caught up.

About MDRN Real Estate:

Looking for a design-focused real estate team that understands authentic heritage properties? MDRN Real Estate + Design specializes in connecting discerning buyers with respectfully renovated heritage homes in Toronto. We know the difference between genuine craftsmanship and heritage theatre. Contact us to start your search for a home with real history, not just heritage-style facades.

We work exclusively with design-conscious clients seeking authentic heritage and architecturally significant properties in Toronto's most coveted neighbourhoods. Contact us today.

Thinking about putting your Toronto home on the market? You're not alone—and honestly, you're stepping into one of the most exciting (and yes, sometimes nerve-wracking) real estate markets in the country right now.

But here's the thing everyone gets wrong about selling… they think pricing is just about picking a number that sounds right. It's not. Your asking price is actually your first conversation with every potential buyer who walks through your door—and trust me, you want that conversation to start off on the right foot.

Why Getting the Price Right Feels Harder These Days

Let's be honest—selling a home in 2025 isn't your parents' real estate experience. Between interest rates doing their roller coaster thing, buyers who've become pickier than food critics, and inventory levels that seem to change with the weather, it's enough to make anyone's head spin.

I've watched sellers get caught off guard because they assumed last year's strategies would work this year. Spoiler alert: they don't always.

Your Three Pricing Options (And When Each One Makes Sense)

I learned this framework from real estate coach Tom Ferry, and I swear by it because it cuts through all the noise. Every seller I work with gets these three options, and we pick the one that matches their situation:

Option 1: Price Above Market Value

This is the "lottery ticket" approach. You're betting that somewhere out there is a buyer who'll fall head-over-heels for your place and pay a premium for it. Does it work? Sometimes—especially if you've got something truly special or you're in no rush to move. But fair warning: this path requires patience and thick skin.

Option 2: Price at Fair Market Value

This is your solid, dependable choice. We look at what similar homes have sold for recently, factor in current market conditions, and land on a price that makes sense to both you and buyers. It's not flashy, but it works. Think of it as the reliable friend who always shows up when they say they will.

Option 3: Price Slightly Below Market Value

Now this one? This is where things get interesting. It might sound strange to some people—why would you price your home for less than it's worth? But here's the psychology: when buyers see what looks like a deal, they move fast. And when multiple buyers move fast, you often end up with competing offers that drive the price right back up (sometimes higher than if you'd priced at market value to begin with).

The Mind Games Buyers Play (And How We Use Them)

Today's buyers aren't just browsing—they're researching like they're writing a PhD thesis on your neighbourhood. They know what sold three doors down last month and what's been sitting on the market for 60 days.

That's why pricing is as much about psychology as it is about spreadsheets. When a buyer sees your listing and thinks "this feels like a good deal," that emotional response is worth its weight in gold. Even if your "good deal" is priced exactly at fair market value.

When Things Don't Go According to Plan

Look, not every listing story has a perfect ending in the first chapter. If your home sits on the market longer than we expected, that's not a failure—it's the market giving us feedback. And honestly? Sometimes that feedback is more valuable than any report I could write.

When this happens, we don't panic. We pivot. Maybe it's a small price adjustment, maybe it's repositioning how we're marketing the home, or maybe it's simply a matter of timing. I've seen homes that sat for months suddenly attract multiple offers after one strategic change.

Let's Talk About What Really Matters to You

Here's what I've learned after years in this business - every seller's situation is unique. Maybe you need to sell quickly because of a job relocation. Maybe you can afford to wait for the perfect offer. Maybe you're downsizing and feeling a bit sentimental about leaving the place where you raised your kids.

Whatever your story is, that's where we start our pricing conversation. Not with comparables or market reports—with your life and what you need this sale to accomplish.

Ready to figure out the right pricing strategy for your situation? Let's grab a coffee and chat about your goals, your timeline, and how we can position your home to win in this wild Toronto market of ours.

About MDRN Real Estate:

Looking for a design-focused real estate team that understands authentic heritage properties? MDRN Real Estate + Design specializes in connecting discerning buyers with respectfully renovated heritage homes in Toronto. We know the difference between genuine craftsmanship and heritage theatre. Contact us to start your search for a home with real history, not just heritage-style facades.

We work exclusively with design-conscious clients seeking authentic heritage and architecturally significant properties in Toronto's most coveted neighbourhoods. Contact us today.

Published: September 2025 | Reading Time: 8 minutes

Walk through Toronto's most coveted heritage neighbourhoods today—The Annex, Riverdale, Leslieville, Cabbagetown, Trinity Bellwoods, Little Italy —and you'll witness a heartbreaking trend. Century-old homes with intricate woodwork, original hardwood floors, and handcrafted details are being stripped down to their studs and rebuilt as sterile, Instagram-ready shells.

These aren't just renovations. They're cultural vandalism disguised as "heritage preservation."

What's really happening to Toronto's heritage homes

As someone who works with design-focused clients seeking authentic heritage properties, I've witnessed this crisis firsthand. Over the past two years, finding a genuinely well-preserved heritage home has become nearly impossible. My clients—architects, interior designers, and discerning buyers who appreciate craftsmanship—are consistently disappointed by what's available.

Toronto's real estate market has created a perfect storm for heritage destruction. Developers and flippers have discovered a loophole… buy a heritage-listed property, gut everything that made it special, then slap some subway tiles, quartz countertops, and generic finishes inside a historically-protected exterior.

The result? Homes that look "heritage" from the street but feel like suburban McMansions inside—yet they're priced as if they're bespoke architectural gems.

Here's the frustrating truth I share with my design-focused clients: Toronto's heritage market is flooded with gut jobs masquerading as premium properties. Sellers routinely ask $2.5M+ for homes where original millwork has been replaced with Home Depot trim, "heritage" hardwood floors are actually modern engineered products, period details have been approximated with generic alternatives (plastic mouldings, rosettes), and room proportions have been altered beyond recognition (you know I am referring to that open concept fantasy).

Yet these properties are marketed—and priced—as if they're meticulously restored architectural treasures. My clients, who have trained eyes for quality and authenticity, are paying luxury prices for contractor-grade finishes wrapped in heritage packaging.

Nearly 4,000 buildings in the city are now at risk of losing their heritage protection, creating an urgent window for developers to strike. Meanwhile, complete home renovation projects now cost upwards of $600K+, making it financially attractive to gut rather than restore.

This isn't just about aesthetics—it's about Toronto losing its architectural soul, one renovation at a time. And after watching this trend accelerate over the past decade, I can tell you it's only getting worse.

How to spot a heritage gut job

Watch the listing language carefully. Real estate agents have become masters of euphemism. When you see "completely renovated while maintaining heritage charm" or "turnkey heritage property with contemporary finishes," what they really mean is everything original has been ripped out.

Look past the Instagram-perfect photos. Authentic heritage homes have quirks. Slightly uneven floors tell a story. Original trim carries decades of character. Rooms follow the logic of their era, not modern open-concept fantasies. If every photo looks like it belongs in a design magazine, someone stripped away everything that made the house special.

Pay attention to the mechanicals. Original heritage homes require thoughtful integration of modern systems. When you see perfectly straight HVAC runs with no consideration for original architecture, electrical panels that clearly required major structural changes, or plumbing that obviously didn't respect the home's original layout, you're looking at a property where convenience trumped character.

Notice what's missing—and what's glaringly wrong. After two decades of showing these properties, I can spot a heritage gut job from the front door. Here are the three dead giveaways:

The flooring is always wrong. Engineered hardwood or luxury vinyl that screams 2020s, not late 1800s. Original heritage homes had narrow-strip hardwood, often maple or oak, with the patina and character that only comes with age. When you see perfectly uniform, extra-wide planks throughout, you're looking at someone who prioritised cost and installation ease over authenticity.

The kitchen is aggressively generic. Shaker cabinets, subway tile, and quartz countertops—the holy trinity of flip house design. These elements might work in a modern home, but in a 1910 Victorian? They're completely out of place. A thoughtful heritage renovation would incorporate period-appropriate cabinetry styles, materials, and proportions.

Open concept for the sake of open concept. This is the most destructive trend I see. Load-bearing walls get removed, room proportions get destroyed, and the home's original flow—designed for how people actually lived in that era—gets obliterated. Suddenly your gracious front parlour becomes part of a massive great room that feels like a suburban McMansion dropped inside heritage bones.

The real cost of buying a "heritage" gut job

You're not just buying a home—you're buying someone else's shortcuts. Insurance costs are higher when modern systems are poorly integrated into old homes. Ongoing maintenance becomes a nightmare when original systems are removed without proper consideration—problems compound over time. And when it comes time to sell, discriminating buyers can spot a gut job from across the room.

There's also the regulatory minefield to consider. Heritage properties come with rules about not changing character-defining elements, especially on the exterior, without proper permits. If previous owners cut corners on approvals, you inherit their legal problems.

What authentic heritage renovation actually looks like

Not all heritage renovations are disasters. The good ones follow a simple principle: respect what came before while thoughtfully adding what's needed today.

You'll know you're looking at quality work when original trim and millwork has been carefully preserved or faithfully replicated, when modern systems are routed around rather than through original architecture, when period-appropriate materials appear throughout, and when original floor plans are respected rather than demolished.

These renovations often cost more upfront, but they deliver better long-term value. You'll see custom millwork that matches original profiles, restored rather than replaced original features, high-quality materials that respect the home's era, and thoughtful space planning that enhances rather than fights the original architecture.

Questions that expose the truth

Before you fall in love with that "charming heritage home," get specific. What original features remain? When was the last major renovation completed? Are there heritage restrictions on future modifications? What permits were pulled for recent work?

During your inspection, ask yourself whether the "original" features actually match the home's era. Are modern systems thoughtfully integrated or obviously retrofitted? Does the home feel cohesive, or like a modern house wearing a heritage costume?

For due diligence, check the City of Toronto Heritage Register to understand your obligations, review all renovation permits from the past decade, and verify that any heritage requirements were properly followed.

Where to look (and where to avoid)

Some neighbourhoods have become hunting grounds for flippers. Trinity Bellwoods’ wide Victorians and high prices attract developers who maximize profit by gutting. King West's "heritage" lofts are often new construction with heritage facades. In the Entertainment District, converted heritage buildings frequently retain only exterior walls.

Your better bets for authentic heritage include Riverdale, where Victorian and Edwardian homes often feature renovations that respect original craftsmanship. Leslieville's heritage homes may be modest, but they're full of character. Corktown's smaller market means less flipping pressure. The Beaches offers century-old cottages and craftsman homes with better preservation rates. Trinity Bellwoods has Victorian rowhouses where authentic renovations still exist. Little Portugal's working-class heritage homes often keep original details intact. And Junction Triangle's industrial heritage and worker cottages are less targeted by luxury flippers.

What you can do about it

Toronto's heritage homes represent 150+ years of architectural evolution. When we gut them into generic boxes, we lose irreplaceable craftsmanship and the unique character that makes neighbourhoods special.

As a buyer, you have power. Every time you choose an authentic heritage renovation over a gut job, you're voting for Toronto's architectural future.

Educate yourself on period-appropriate features for your target era. Work with agents who understand heritage properties and their regulations. Budget for proper inspections that can identify authentic versus replica features. Support contractors who specialize in respectful heritage renovations.

The choice is yours: contribute to Toronto's heritage preservation or enable its destruction. Choose wisely—our city's architectural soul depends on it.

About MDRN Real Estate:

Looking for a design-focused real estate team that understands authentic heritage properties? MDRN Real Estate + Design specializes in connecting discerning buyers with respectfully renovated heritage homes in Toronto. We know the difference between genuine craftsmanship and heritage theatre. Contact us to start your search for a home with real history, not just heritage-style facades.

We work exclusively with design-conscious clients seeking authentic heritage and architecturally significant properties in Toronto's most coveted neighbourhoods. Contact us today.

Toronto luxury condos | Toronto real estate market | Condo buying guide Toronto | Toronto condo design trends | Million dollar condos Toronto

You've toured twelve luxury Toronto condos this month. Each one boasted "luxury finishes" and "premium upgrades." Each one had a price tag that made your mortgage broker wince. And each one had the exact same white quartz waterfall island, the same subway tile backsplash, and the same brushed gold fixtures that you swear you saw in the last three buildings.

Welcome to Toronto's $2 million cookie-cutter crisis.

The Toronto Luxury Condo Problem: When Premium Prices Meet Production-Line Design

Walk into any newly built luxury condo in Toronto's core – from King West to Entertainment District to Financial District – and you'll encounter what I call the "developer's playbook." This carefully curated selection of "safe" design choices looks impressive in MLS photos but feels soulless in person. These aren't budget constraints driving identical design choices in Toronto's luxury condo market; these are calculated decisions based on what developers think will sell, not what Toronto condo buyers actually want to live with.

The irony? While Toronto condo buyers are paying luxury prices (often $1,200+ per square foot), they're getting mass-produced aesthetics that prioritise broad appeal over personal expression. It's like buying a bespoke suit that comes in one size and one colour.

Cookie-Cutter Toronto Condo Design: The Repeat Offenders

The Ubiquitous White Kitchen Island in Toronto Condos

Every Toronto condo developer seems convinced that a white quartz waterfall island is the holy grail of luxury design. Walk through any new condo building in Yorkville, CityPlace, or Liberty Village, and you'll find the same island repeated endlessly. Yes, it photographs well for Toronto MLS listings. Yes, it's neutral. But when every unit in every Toronto luxury building features the same element, "luxury" starts feeling more like "assembly line."

The Subway Tile Epidemic Across Toronto's Condo Market

Subway tiles were trendy... in 2015. Yet they continue to appear in million-dollar Toronto condos like some kind of design pandemic. From Distillery District to King Street East, developers cling to them because they're "timeless," but timeless shouldn't mean tiresome – especially at Toronto's premium condo prices.

The Brushed Gold Standard in Toronto Luxury Condos

Brushed gold fixtures have become the default "upgrade" in Toronto luxury developments. Visit any new condo building from Harbourfront to North York, and you'll encounter the same brushed gold taps, cabinet pulls, and light fixtures. While beautiful in isolation, their omnipresence across Toronto's condo market has stripped them of their specialness.

The Real Cost of Toronto's Cookie-Cutter Condo Design

This design conformity in Toronto's luxury condo market isn't just aesthetically disappointing – it's financially problematic for Toronto condo buyers and sellers. When every luxury Toronto condo looks identical, differentiation becomes impossible. Buyers end up choosing based on location and price alone, rather than falling in love with a unique space that reflects their personality.

For Toronto condo sellers, this creates a commoditization problem. How do you justify your premium Toronto condo listing when the unit three floors down has identical finishes? In Toronto's competitive real estate market, the answer is: you can't.

What Toronto Condo Buyers Actually Want (Survey Results and Market Insights)

After working with hundreds of Toronto condo buyers across all price points, from $500K studios to $3M penthouses, I've noticed clear patterns in what they're really seeking in Toronto's luxury condo market:

Authentic Character Over Instagram-Ready Toronto Condos

Toronto condo buyers want spaces that tell a story, not spaces that could be anywhere in the world. They're drawn to unexpected details – a unique light fixture, an interesting texture, a bold accent wall that shows someone actually made design decisions rather than following the standard Toronto developer checklist.

Functional Luxury in Toronto Condos Over Superficial Glamour

Smart storage solutions, well-planned layouts, and thoughtful electrical placement matter more than marble countertops to Toronto condo buyers. They want to live well in Toronto's urban environment, not just look good on social media.

Toronto Condo Customisation Potential

Many Toronto buyers would prefer a well-designed blank canvas they can personalise rather than a "finished" space that reflects someone else's taste. They want the bones of luxury – quality materials, solid construction, thoughtful proportions – with the freedom to add their own personality to their Toronto home.

Neighbourhood Integration in Toronto Condos

Toronto condo buyers want their homes to feel connected to their communities, whether that's the historic charm of Corktown, the vibrant energy of Queen West, or the sophistication of Yorkville. Design elements that reflect the neighbourhood's character create a sense of place that generic luxury finishes simply can't match.

Toronto Condo Developers Getting Design Right

Not every Toronto condo developer is stuck in the cookie-cutter trap. The Toronto luxury condo projects that generate real buyer excitement are the ones taking calculated risks:

Incorporating Toronto Local Artists: Some Toronto developments feature custom artwork or installations by local Toronto artists that give each building a unique identity tied to the city's creative community.

Offering Genuine Customisation: Forward-thinking Toronto developers like Freed Developments and Great Gulf are offering buyers the opportunity to make meaningful design choices during the pre-construction phase.

Embracing Bold Choices: The most memorable Toronto condo units I've shown feature unexpected elements – a dramatic dark kitchen, unique tile patterns, or architectural details that actually enhance the space rather than just filling it with generic luxury finishes.

Toronto Condo Market Predictions: Design Trends for 2025

Based on current Toronto condo market trends and buyer feedback, here's what I predict for Toronto's luxury condo design in 2025:

• Warmer colour palettes replacing the stark white aesthetic

• Mixed metals instead of uniform brushed gold

• Statement lighting as a key differentiator

• Integrated smart home technology beyond basic automation

• Sustainable materials appealing to environmentally conscious Toronto buyers

Toronto Condo Buying Tips: How to Spot Unique Properties

When shopping for luxury Toronto condos, ask yourself these questions:

1. Would I recognise this kitchen in a lineup of Toronto MLS photos?

2. Does this space reflect Toronto's character or could it be anywhere?

3. What makes this Toronto condo unit memorable compared to others I've seen?

4. Are there opportunities for personalisation within the building's design guidelines?

The Bottom Line for Toronto Condo Buyers and Sellers

If you're buying a Toronto condo, don't let marketing photos fool you into thinking identical means luxury. Look for Toronto properties with genuine character, even if that means considering slightly older buildings in established Toronto neighbourhoods like Rosedale, Forest Hill, or The Beaches with more distinctive features.

If you're selling your Toronto condo, consider what you can do to differentiate your space from the sea of similarity in Toronto's competitive market. Sometimes the smallest unique touches – interesting hardware, a bold paint choice, or distinctive lighting – can make your Toronto condo listing memorable in a way that another white quartz island simply can't.

The Future of Toronto's Luxury Condo Market

The good news for Toronto's real estate market? I'm seeing signs that both developers and buyers are getting tired of the cookie-cutter approach. The most successful new Toronto condo developments are the ones that dare to be different, that understand luxury isn't about following a formula but about creating spaces people genuinely want to call home in Toronto.

Whether you're looking at condos in trendy neighbourhoods like Liberty Village and King West, or established areas like Yorkville and Rosedale, the principle remains the same: luxury isn't about having the same expensive island as everyone else – it's about having a space that feels uniquely yours in Toronto's diverse urban landscape.

Your Toronto home should be a reflection of you, not a reflection of a developer's market research. It's time Toronto's luxury condo market remembered that.

Anne Lok is a Toronto real estate expert specialising in luxury condos across Greater Toronto Area neighbourhoods. With over 21 years of experience in Toronto's condo market, she has helped hundreds of buyers navigate Toronto's competitive real estate landscape.

Ready to find a unique Toronto condo? Contact Anne today for personalised guidance on

There were 5,211 home sales reported through TRREB’s MLS System in August 2025, up by 2.3% compared to August 2024. The total number of new listings were up 22.4% to a total of 27,495 available homes for sale of all home types.  

More choice has put further pressure on prices with the average selling price of $1,022,143, down by 5.2% compared to August 2024. Months of inventory remained in a buyers market with over 5 months of available homes of all types.   

TRREB's Chief Information Officer Jason Mercer reported that even with lower borrowing costs and selling prices over the past year, further relief in lending costs is required to see an increased number of buyers move off the sidelines to take advantage of today’s well-supplied market.  

The condominium market has seen some consistency over the past few months with sales averaging approximately between 1400 to 1500 per month.  However, a record number of new condominium deliveries continue to fuel the over supply of this home type, putting downward pressure on prices, down 4.2% over August last year.  

With the current state of our market we have to read between the lines to find the great opportunities that are available and I am here to help.  I am able to assist you with all your real estate needs, please never hesitate to reach out to me as I look forward to connecting with you soon.  

About Anne Lok, Broker  B. Arch, M.AAD.

Anne is a Toronto-based realtor with an architectural background, specializing in design-forward properties in historically rich neighbourhoods. She offers a customized approach for each client, helping buyers find homes that blend timeless charm with modern functionality. Anne also guides sellers in showcasing the unique appeal of their properties and assists investors in identifying opportunities with strong potential for growth.

Contact Anne for a Buyer or Seller consultation.

Toronto Real Estate Market Shows Strong Recovery with 10.9% Sales Growth

The Greater Toronto Area (GTA) housing market delivered its strongest July performance since 2021, with home sales surging 10.9% year-over-year to reach 6,100 transactions in July 2025. This Toronto real estate market recovery signals improved market conditions driven by enhanced affordability and reduced borrowing costs.

Key GTA Housing Market Statistics July 2025

• Home sales volume: 6,100 transactions (up 10.9% from July 2024)

• Active MLS listings: 30,215 properties (26.2% increase year-over-year)

• Market inventory: 4.95 months of available homes

• Market trend: Moving toward sellers' market conditions

Toronto Home Prices and Affordability Improve

Lower home prices in Toronto combined with reduced borrowing costs have significantly improved housing affordability across the GTA. This enhanced affordability is enabling more households to access homeownership opportunities, contributing to the sustained sales growth.

The current inventory level of under five months indicates Toronto sellers market conditions are emerging, representing a notable shift from previous market dynamics.

Condo Market Toronto Shows Resilience

The Toronto condo market demonstrated steady performance with 1,576 sales in July 2025:

• 4.4% monthly increase from June 2025

• 6.3% growth compared to July 2024

• Condo prices down 9.4% year-over-year due to increased new construction deliveries

Economic Impact and Interest Rate Outlook

According to TRREB Chief Information Officer Jason Mercer, the Canadian housing market can serve as a catalyst for economic growth amid trade uncertainties with the United States. Further interest rate cuts could stimulate additional home sales and generate positive economic spillover effects, supporting job growth and regional economic development.

Market Tightening Indicates Balanced Conditions Ahead

With sales growth outpacing new listing increases, GTA market conditions are tightening. New listings rose modestly compared to June, while the sales-to-listings ratio improvement suggests the market is transitioning toward more balanced conditions.

Toronto Housing Market Forecast

The combination of improved affordability, steady sales growth, and tightening inventory levels positions the GTA real estate market for continued recovery through 2025. The housing sector's potential as an economic catalyst, supported by potential interest rate reductions, could drive further market strengthening.

About Anne Lok, Broker  B. Arch, M.AAD.

Anne is a Toronto-based realtor with an architectural background, specializing in design-forward properties in historically rich neighbourhoods. She offers a customized approach for each client, helping buyers find homes that blend timeless charm with modern functionality. Anne also guides sellers in showcasing the unique appeal of their properties and assists investors in identifying opportunities with strong potential for growth.

Contact Anne for a Buyer or Seller consultation.

Toronto’s housing market is expensive and competitive, but there’s one overlooked issue making affordability even worse—the missing middle. Between high-rise condos and million-dollar detached homes, there’s a serious lack of townhouses, duplexes, triplexes, and low-rise apartments.

With recent zoning changes and new developments, Toronto is finally taking steps to fix this problem. This blog explores why missing middle housing matters, the latest developments, pricing insights, and what this means for buyers and renters.

What is Missing Middle Housing?

The term “missing middle” refers to housing that sits between high-density condos and low-density single-family homes. These homes provide more space for families while remaining affordable for middle-income earners.

Cities like Toronto have historically focused on luxury condos and expensive detached homes, leading to fewer options for people who want spacious, reasonably priced housing in urban neighbourhoods.

Why is Toronto Struggling with the Missing Middle?

Several factors contribute to Toronto’s lack of medium-density housing:

• Zoning Restrictions – Historically, many Toronto neighbourhoods only allowed single-family homes, preventing duplexes, triplexes, and townhouses from being built.

• High Demand for Condos – Developers prioritized condos due to higher profit margins and demand from investors.

• Expensive Land & Construction Costs – Building medium-density homes is often less profitable compared to high-rise developments.

With Toronto’s population booming, residents are demanding more diverse housing options that better suit families and professionals.

Toronto’s Latest Missing Middle Housing Initiatives

1. Zoning Changes for Multiplexes

Toronto has recently legalized multiplexes in all neighbourhoods, allowing duplexes, triplexes, and fourplexes in areas that previously banned them. This change is expected to increase housing diversity and support affordability.

2. Beaches-East York Missing Middle Pilot Project

The city is launching a pilot project to demonstrate how missing middle housing can be built effectively on city-owned land. This initiative aims to set a precedent for future developments and encourage more builders to invest in mid-sized housing. Updates are posted on the City of Toronto website here.

3. Private Developer Investments

Tempus Capital Inc. and TUK Developments Inc. are investing $100 million to create spacious, family-friendly rental units. Their first project features three-bedroom apartments with 1,100 square feet of space, addressing the need for larger rental units in Toronto.

What’s the Price Range for Missing Middle Homes in Toronto?

Toronto’s missing middle homes are priced between condos and detached homes, offering a middle ground for buyers and renters.

Here’s a breakdown of current prices:

• Townhouses & Row Houses – Prices typically start around $800,000 in areas like Weston-Pelham Park, offering a more affordable step up from condos.

• Duplexes & Triplexes – These multi-unit homes can range from $900,000 to $1.5 million, depending on the neighbourhood and condition.

• Low-Rise Apartments – Rental units in new developments, such as those by Tempus Capital Inc. and TUK Developments, are designed for families and professionals, with three-bedroom units spanning 1,100 square feet.

As Toronto continues to promote medium-density housing, prices may fluctuate depending on zoning laws, interest rates, and construction costs.

Why Missing Middle Housing is Important?

Better Affordability

More housing options mean lower prices and better accessibility for buyers and renters. Townhouses, duplexes, and triplexes offer a compromise between space and cost, making them a great alternative to high-rise condos.

Improved Community Living

Unlike large condo towers, missing middle housing promotes walkable neighbourhoods with lower traffic congestion, more green space, and stronger local communities.

Environmental Benefits

Medium-density housing is more sustainable than single-family homes and reduces the city’s urban sprawl—a major issue affecting Toronto’s infrastructure.

What’s Next for Toronto?

The push for missing middle housing is gaining momentum, but challenges remain. While zoning changes and pilot projects are promising, developers and policymakers need to prioritize affordability and accessibility to make these homes widely available.

Will Toronto finally embrace medium-density housing? The coming years will determine whether these initiatives can reshape the housing market and offer better options for families and professionals.

About Anne Lok, Broker  B. Arch, M.AAD.

Anne is a Toronto-based realtor with an architectural background, specializing in design-forward properties in historically rich neighbourhoods. She offers a customized approach for each client, helping buyers find homes that blend timeless charm with modern functionality. Anne also guides sellers in showcasing the unique appeal of their properties and assists investors in identifying opportunities with strong potential for growth.

*All data provided by Urbanation

New Condo Sales Plunge 91% Below 10-Year Average

• Only 502 new condo units were sold in Q2-2025 across the Greater Toronto and Hamilton Area (GTHA), marking a 10% drop from Q1 and a 69% year-over-year decline.

• Q2 typically sees peak activity, but this year’s sales were 91% below the 10-year seasonal average—continuing a trend of 30-year lows.

• Resale condo transactions also fell 20% annually to 4,074 units, hitting a 17-year low (excluding COVID years) and landing 32% below the 10-year average.

Developers Halt Launches and Cancel Projects Amid Surging Resale Listings

• Only three new projects (891 units) launched for presale in Q2, while four projects (719 units) were cancelled.

• Since early 2024, 20 projects totaling 4,360 units have been cancelled, with nine now being converted to rentals—including three from Q2-2025.

• Resale listings hit a record 14,759 units in Q2, 35% above the 10-year average.

New Launches Struggle Despite Price Drops to $1,000 PSF

• Just 16% of newly launched units sold in Q2—far below the 10-year average of 50%.

• This sluggish performance came despite limited inventory and average opening prices falling to $1,003 PSF, the lowest since Q2-2020.

• Resale market activity also weakened, with a sales-to-listings ratio of 28%, half the 10-year average and the lowest Q2 level in three decades.

Developer Inventory Doubles, Resale Listings Hit Record High

• Total unsold inventory reached 24,045 units in Q2-2025, down 3% year-over-year—marking the first annual decline in over three years.

• However, 2,478 newly completed units remained unsold, a 102% increase from last year and five times higher than two years ago.

• Active resale listings ended Q2 at 8,998 units—double the 10-year average.

Prices Continue to Slide for Both New and Resale Condos

• New condo prices averaged $1,325 PSF in Q2, down 2% year-over-year and 7% over three years (excluding incentives).

• Resale prices dropped 8% annually to $797 PSF, with a three-year decline of 14%.

• The price gap between new and resale condos widened to a record 66%, more than double the spread from a decade ago.

Completions to Hit Record High in 2025, Then Plunge by 2027

• Condo construction starts fell 57% year-over-year in Q2 to just 1,276 units—an 84% drop over two years.

• Q2 completions rose slightly (2%) to 4,918 units, but 17,117 more units are scheduled for completion in the second half of 2025.

• Total completions for 2025 will reach a record 31,599 units, before declining to 18,037 in 2026 and just 10,841 by 2027.

Rental Supply Surges, Pushing Down Rents

• A record 18,119 condo leases were signed in Q2-2025, up 10% year-over-year.

• However, rental listings grew 13% to 24,918 units—surpassing the previous high from Q3-2020.

• The lease-to-listing ratio fell to a five-year low of 73%, while active listings rose 23% to 6,156 units.

• Average rents dropped 4.5% annually to $3.79 PSF, or $2,589 for a typical 683 SF unit.

🔍 What This Means for Buyers and Sellers

🏠 For Buyers:

• More Choices, Lower Prices: With record-high inventory and falling prices, buyers have more options and stronger negotiating power.

• Better Deals on Resale Units: Resale condos are significantly cheaper than new builds, with a growing price gap (66% premium for new).

• Rental Market Softening: If you're considering renting before buying, falling rents and rising supply make it a tenant-friendly market.

• Caution on New Builds: Many projects are being cancelled or converted to rentals, so buyers should vet developer reliability and timelines carefully.

🏢 For Sellers:

• Tougher Competition: With resale listings at record highs and sluggish demand, sellers face longer listing times and pressure to reduce prices.

• Lower Sales Ratios: Only 28% of resale listings are selling—half the historical average—making it harder to close deals.

• Price Pressure: Resale prices are down 14% over three years, and buyers are increasingly price-sensitive.

• Rental as Plan B: If selling isn’t viable, leasing out your unit may be an alternative—but expect lower rents and longer vacancy periods.

About Anne Lok, Broker  B. Arch, M.AAD.

Anne is a Toronto-based realtor with an architectural background, specializing in design-forward properties in historically rich neighbourhoods. She offers a customized approach for each client, helping buyers find homes that blend timeless charm with modern functionality. Anne also guides sellers in showcasing the unique appeal of their properties and assists investors in identifying opportunities with strong potential for growth.

Contact Anne for a Buyer or Seller consultation.