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Condos For Sale in Ontario, Canada

Welcome to our handpicked collection of “condos for sale” spanning sought-after neighborhoods across Ontario, Canada. Dive into our diverse array of exquisite condos, meticulously chosen for their quality and value.  Whether it’s a sleek downtown high-rise or a cozy suburban unit, our selection caters to every discerning buyer. Start your search for the perfect home today!

Condos For Sale Toronto

13
Bellwoods house with many glass windows reflecting sunlight in the afternoon
Platinum Access
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Bellwoods House

Welcome to Bellwoods House Condos Bellwoods House is a newly developed condominium project ...
Welcome to Bellwoods House Condos Bellwoods House is a newly developed condominium project by Republic Developments ...
13
View of The Hill Condo bathed in afternoon sunlight
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The Hill Condo

  Welcome to The Hill Condo Introducing The Hill Condo, a modern high-rise condominiu ...
  Welcome to The Hill Condo Introducing The Hill Condo, a modern high-rise condominium project brought to you ...
9
Aerial view of the Park Road Condos in the morning
New Incentive
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Park Road Condos

  Welcome to Park Road Condos Park Road Condos is an eagerly anticipated new construc ...
  Welcome to Park Road Condos Park Road Condos is an eagerly anticipated new construction condo in the heart o ...

Condos For Sale Markham

4
A family enjoying their time outside Angus Glen South Village building
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Angus Glen South Village

    Welcome to Angus Glen South Village Angus Glen South Village, an exciting To ...
    Welcome to Angus Glen South Village Angus Glen South Village, an exciting Townhouse & Single Fami ...
14
An aerial view of the Unionville Condos and the surrounding buildings, nestled within lush greenery
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The Unionville Condos

Welcome to The Unionville Condos Prepare for the arrival of The Unionville Condos at 9332 ...
Welcome to The Unionville Condos Prepare for the arrival of The Unionville Condos at 9332 Kennedy Road, Markham, a ...
16
Vertical view of UnionCity Condos in daytime
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UnionCity Condos

Welcome to UnionCity Condos Elevate your lifestyle at UnionCity Condos, an upcoming luxury ...
Welcome to UnionCity Condos Elevate your lifestyle at UnionCity Condos, an upcoming luxury master-planned community ...

Ontario Housing Market Report Nov 2023

Note: Data sourced from the wowa.ca

In November 2023, the Ontario residential market showed a mixed performance. Residential sales dipped by 8% from the previous year, totaling 10,216 homes sold, notably below both the five and 10-year averages. Meanwhile, the average home price in Ontario rose by 1% year-over-year to $833,525 but fell by 3% from the prior month, contributing to a year-to-date average price decline of 7% to $873,284. The benchmark home price for a typical property dropped to $861,200, down 2% from the previous month and 0.5% from last year.

Nationally, Canada’s housing market experienced a modest 2% year-over-year increase in the average price, totaling $646,134 in November 2023, a 2% decrease from the prior month. New residential listings surged by 13% year-over-year to 23,355, while active residential listings soared to 44,444, marking a 32% increase from November 2022 and contributing to a rise in months of inventory to 4.4 months, surpassing the long-term November average of 2.6 months. Despite this increase, the sales-to-new-listings ratio (SNLR) stood at 44%, indicating a balanced market; however, rising SNLR in major Ontario cities suggested a shift towards a sellers’ market.

Ontario's Regional Housing Overview

Note: Data sourced from the wowa.ca

What is Down Payment?

The down payment, an initial cash investment when purchasing property, varies based on factors like credit score, debt ratios, and income source. It serves as your testament to the bank—showing your financial stability and commitment. 

Your decision on the condo’s down payment hinges on your savings; a larger upfront payment means reduced monthly mortgage installments.

Down payments have minimums that are based on purchase price. For instance:

  • For pre construction condos worth less than $500,000: 5%.
  • For pre construction condos priced between $500,000 and $999.999: 5% on the first $500,000 and 10% on the amount above.
  • For pre construction condos priced $1 million or more: 20%.

What are Closing Costs?

Closing costs are the expenses over and above the property’s price that buyers and sellers incur to complete a real estate transaction.

They are separate from the listing price and include things such as but not limited to:

  • Lender Fees: Origination fees, loan application fees, and points (if applicable).
  • Title Insurance: Protects against any issues with the property’s title.
  • Appraisal Fees: Charges for assessing the property’s value.
  • Attorney or Escrow Fees: Legal services or third-party escrow handling the transaction.
  • Property Taxes: Prorated taxes based on the property’s sale date.
  • Homeowners Insurance: Prepaid insurance premiums.
  • Recording Fees: Fees for recording the new deed and mortgage with the local authorities.
  • Inspection Fees: Costs for home inspections (e.g., termite, mold).
  • HOA Fees: If applicable, any dues owed to a homeowners’ association.
  • Miscellaneous Fees: Such as courier fees, document preparation fees, or underwriting fees.

Ontario Housing Market Forecast for 2024

A fresh analysis by Royal LePage predicts a gradual uptick in home prices across Canada in 2024, driven by anticipated Bank of Canada rate cuts. This shift marks a crucial turning point for the national economy, as borrowing costs are expected to transition from ultra-low to mid-single-digit rates. The forecast suggests a progressive rise in the first half of the year, followed by more robust increases later on, influenced by the projected interest rate reductions. The projected figures indicate a 3.3% year-over-year increase in home prices for the first quarter and a marginal 0.2% rise in the second quarter. By the third quarter, a 3.3% increase is anticipated, followed by a more significant 5.5% bump in the fourth quarter, hitting a median home price of $843,684, aligning with pre-pandemic highs. Specifically, single-family home prices are forecasted to climb to $879,164 (a six percent increase), while condominium prices are expected to reach $616,140 (a five percent increase) by the fourth quarter of 2024. This trajectory hints at a return to pre-pandemic peak levels by the end of the upcoming year.

Frequently Aksed Questions

The Canadian Real Estate Association predicts a 1.5% increase in the average home price in 2024. Whether it’s an ideal time to buy depends on individual circumstances and market factors. Consider consulting a real estate professional to evaluate current conditions and your readiness to invest.

The outlook for 2024 is cautiously optimistic, expecting a gradual recovery in sales and prices. Potential risks, such as supply shortages or unforeseen events like health crises, could affect this trajectory.

Connect with trusted real estate agents like MyCondoStore, offering platinum access to property floor plans, pricing, and expert guidance.

A minimum of 10% of the property’s purchase price.

New regulations prohibit non-Canadian citizens or permanent residents from buying residential property in Canada.

HST, 13% of the purchase price, applies to new homes. Used homes generally don’t incur this tax. Builders might include or add HST to the purchase price.

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