As Toronto’s condo market shifts, a rare window of opportunity has opened for first-time buyers. With many investors pulling out due to high carrying costs and declining returns, affordable Toronto condos for homebuyers are suddenly more accessible, especially in East Toronto.
If you're planning to live in your home long-term, now may be the best time in years to make your move.
Why Condo Prices Are Becoming More Accessible
The average condo price in Toronto now sits around $655,000, according to recent reports. This is a notable decline from peak pricing during the hot 2021–2022 market. Investors, many of whom bought during bidding wars and record-low mortgage rates, are now offloading units, in some cases for less than they paid.
As Rates.ca mortgage expert Victor Tran explains, monthly rent no longer covers the full costs of ownership for investors. Between condo fees, property taxes, insurance, and utilities, many are facing negative cash flow. This has made investing in condos a much less appealing strategy in 2025.
A Shift from Investors to First-Time Buyers
This investor retreat has made room for first-time buyers looking for a principal residence. Unlike investors, end-users aren’t relying on rental income to justify their purchase. They’re more focused on value, location, and long-term living potential.
For buyers planning to stay put for several years, today's market offers a strategic advantage. Prices have softened, and competition has cooled, especially in East Toronto condo communities like The Beach and Birchcliff.
Why It’s a Good Time to Buy If You're Staying Long-Term
With borrowing rates in the 3.9%–4.3% range, monthly mortgage costs remain predictable and potentially lower than rent in some areas. Plus, buying now means you’ll start building equity at today's prices, before the next cycle of appreciation begins.
More importantly, if you're planning to live in the unit for the foreseeable future, short-term market fluctuations matter less. You’re not looking for a quick return; you’re looking for housing stability and long-term growth.
Final Thoughts: Take Advantage of This Rare Market Moment
If you've been priced out of the market or waiting for the right time, affordable Toronto condos for homebuyers are finally within reach. With less investor competition and more listings at reasonable prices, East Toronto is especially well-positioned for savvy first-time buyers.
✅ Looking to explore condos in East Toronto? Browse our latest listings here.
✅ Not sure if it’s the right time for you? Contact us for a free homebuyer consultation
