What is the first step when buying a property in Toronto Downtown?

Start by securing a mortgage pre-approval. This helps define your budget and strengthens your offer when negotiating with sellers in the fast-paced Toronto Downtown market.

Do I need a real estate agent to buy a home in Toronto?

While not mandatory, working with experienced Downtown Toronto agents provides access to exclusive listings, expert negotiations, and local insights on Toronto's dynamic micro-markets.

How long does the home-buying process take in Toronto?

Typically 30–90 days from offer to closing, depending on financing, inspections, and whether you’re purchasing a resale or pre-construction property.

What documents do I need to buy a home in Toronto?

You’ll need your mortgage pre-approval, valid ID, proof of income, deposit verification, and lawyer’s contact information to complete the purchase process.

What are the closing costs when buying a condo in Toronto Downtown?

Expect 1–4% of the purchase price for land transfer taxes, legal fees, title insurance, and adjustments (e.g., prepaid property taxes or utilities).

How competitive is the market for Downtown Toronto agents representing buyers?

Toronto Downtown remains competitive, especially for condos and well-located homes. However, shifting inventory creates great opportunities for buyers working with the right representation.

Are condos a good investment in Toronto?

Yes — Toronto condos often appreciate steadily and generate strong rental demand. Focus on transit-accessible and high-growth neighbourhoods in the core for best results.

What neighbourhoods are best for first-time buyers in Toronto?

Leslieville, Liberty Village, The Junction, and East York are great options for first-time buyers seeking affordability and lifestyle convenience.

What’s the difference between buying resale and pre-construction condos?

Resale condos allow immediate occupancy, while pre-construction units offer time to save and potential appreciation before completion, but require longer timelines and deposits.

Can non-residents or foreign buyers purchase property in Toronto?

Yes, but there are specific tax rules and restrictions under Canada's Foreign Buyer Ban. Consult a licensed realtor and lawyer for updated guidance before purchasing.

How much down payment do I need to buy in Toronto Downtown?

The minimum down payment is 5% for homes under $500,000, increasing to 10–20% for higher-priced properties and downtown condos depending on the purchase amount.

Are there programs for first-time buyers in Ontario?

Yes — programs such as the First-Time Home Buyer Incentive, Land Transfer Tax Rebate, and Home Buyers’ Plan (HBP) help reduce upfront costs and make ownership more attainable.

Do I need a lawyer to buy a property in Toronto?

Yes. A real estate lawyer reviews your Agreement of Purchase and Sale, ensures clear title, and handles closing documents and fund transfers.

How can RE/MAX Plus City help me buy a property in Toronto?

RE/MAX Plus City offers full-service buyer representation, including neighbourhood tours, offer strategy, mortgage guidance, and end-to-end support from search to closing. We ensure you find the right home at the right price.

How do I start working with your team?

Simply fill out the buyer consultation form on remaxpluscity.com or call 647-259-8806. A licensed REALTOR® will connect with you to start your Toronto property search.

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June 2026 GTA Real Estate Market Report: Transitions and Supply Challenges

Posted on June 12, 2026 by RE/MAX Plus City

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GTA Housing: June 2026 Market Update

"This combination of rising demand and shrinking supply is creating tighter market conditions..."

By The Numbers

Sales Volume: GTA home sales rose 6.3% year-over-year to 6,583 transactions, showing steady momentum since early spring.
The Supply Drop: New listings plummeted 18.9% year-over-year, leading to rapid inventory absorption and increased buyer competition.
Home Prices: The average GTA home price sits at $1,069,700 (down 4.6% year-over-year). However, month-over-month prices have stabilized, laying a foundation for future growth.

Source: Toronto Regional Real Estate Board

Freehold Market Continues to Lead

Freehold housing remains the primary driver of the recovery, now accounting for 58% of all GTA sales. A mix of returning move-up buyers and stable borrowing costs are driving demand, particularly in mature Toronto neighborhoods where limited inventory is putting upward pressure on prices.

Condos Showing Signs of Stabilization

While the condo segment faces the most challenges, conditions are gradually improving. The market saw 3,236 condominium sales with an average price of $673,841. Inventory is being absorbed faster than new supply is entering, driven by strong rental demand and first-time buyers.

Source: Toronto Regional Real Estate Board

The Supply Challenge Ahead

Long-term supply issues are looming. Beyond low housing starts, an emerging trend shows older homeowners opting for reverse mortgages to age in place rather than selling, further restricting the resale inventory available to the market.

"The GTA housing market is no longer searching for a bottom. The conversation is increasingly shifting toward recovery."