The reality of Toronto’s current condo market is starkly illustrated by a recent sale at 10 Morrison St. A one-bedroom plus den loft, which commanded $745,000 in the peak of 2023, recently traded for just $630,000—a $115,000 drop in value over three years. Despite boasting rare downtown assets like an assigned parking spot and a boutique aesthetic, the unit sat on the market for 147 days, enduring three price cuts before finding a buyer.
Listing agent Dino Capocci of Royal LePage Real Estate Services Ltd. notes that the decision to sell at a loss was driven by a lack of market urgency and a growing aversion among investors toward the current rental climate. For many owners, offloading a property is becoming more attractive than navigating the complexities of the Landlord and Tenant Board. For a deeper look at this transaction and what it signals for condo investors, read the full story at The Globe and Mail.
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