OCTOBER 15, 2024

Dear reader,

If you’re under 30, looking at a picture of the Toronto skyline circa 1999 can make you feel like you’re watching an old movie where the characters smoke cigarettes on a plane—the difference between then and now couldn’t be more dramatic. Thanks to a quarter-century population boom, Toronto has exploded with condo tower construction, resulting in the Blade Runner–esque cityscape we now call home.

Now, however, we’re in the midst of a pause. Years of inflation and soaring interest rates have stunted the condo industry, with prices down 3.5 per cent year over year. That means there are plenty of deals to be had this fall and winter for those in the know. But don’t take my word for it: in the latest edition of Price Check—Curb Appeal’s top post this week—reporter Ali Amad once again goes right to the source, asking three realtors to make sense of the current market. If you’re a prospective buyer, the news is good.

Also in today’s newsletter: how a $90,000 DIY reno injected a little bit of Paris into a cookie-cutter loft on Queen West. Plus, a rare Moss Park heritage home that’s been carved into a triplex. Visit torontolife.com or subscribe to our print edition for all of our real estate coverage and more.

—Barry Jordan Chong, city and real estate editor

In September, the average price of a Toronto condo unit dropped 3.5 per cent year over year to $683,000. Experts predict even steeper price drops this fall and winter, and many prospective homeowners are waiting for further interest rate cuts before making a move. That means there are plenty of deals to be had in the coming months for savvy buyers. Here, three different agents representing three beautiful $1-million condos explain why they were happy to sell for under asking. They also offer tips and tricks for those eager to buy.

In March of 2022, Natalie Ast and her partner, Daniel Alksnis, completed a stunning DIY renovation of their Queen West loft. For $90,000, they said goodbye to the orange floors, cramped corners and nursing-home vibes—trading them for hardwood, tile, raised ceilings and contemporary verve. See how they did it.

How about a $1-million, 1,600-square-foot unit housed in a Moss Park Victorian? It comes with a rainbow staircase, lipstick wallpaper, three bathrooms, a gazebo, a big backyard and a private garage.

In the latest issue: dispatches from the front lines of Ontario’s broken health care system. Plus, a sneak preview of Poilievre’s Toronto, a bold next step for Chinese-food king David Schwartz, converted schoolhouses that blend history and style, and more. Still not receiving Toronto Life at home? Subscribe today.

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