A recent sale in Mimico highlights the shifting realities of the GTA condo market. A one-bedroom plus den unit at 15 Legion Rd. sold for $515,000, a significant $128,000 below its 2021 purchase price of $643,000. The sellers, who bought at the market’s peak, faced a challenging sales process with multiple price reductions. Listing agent Luke Dalinda noted that buyers are now prioritizing value, with established condos offering more space at competitive prices compared to newer, smaller units. This sale underscores the impact of fluctuating interest rates and evolving buyer preferences on Toronto’s condo landscape. For a detailed look at this specific sale and agent insights, read the full article on The Globe and Mail: [https://www.theglobeandmail.com/real-estate/toronto/article-mimico-condo-sells-128000-below-purchase-price/]
Source: Read the original article
