We’ve all been hearing it: Toronto’s real estate market is in “buyer market” territory. But what does that actually mean when you’re out there actively trying to buy?
Today, we sat down with Phil, Toronto multiplex investment realtor at Elevate Realty, to break down what we’re actually seeing on the ground right now in Toronto’s market — especially on the buy side.
Is It Really a Buyer’s Market For Toronto Real Estate?
Broadly speaking, yes — it’s a buyer’s market. But that doesn’t mean every property is sitting and sellers are desperate.
The reality is this:
Top 5% of properties — the ones that are fully renovated, turnkey, and in prime locations — are still moving quickly.
Those properties still see offer nights, multiple offers, and firm deals with no conditions.
Everything else? It’s sitting.
That includes homes that need work, homes priced too high, or anything tenanted. Sellers with these types of properties are chasing the market down, reducing prices slowly instead of adjusting aggressively up front — and that’s why so many listings linger.
What’s Actually Moving in Toronto Right Now?
We worked with a client recently looking for a family home in Toronto’s east end. Here’s what they found:
Move-in ready, well-located homes were still attracting double-digit offers.
For example, a semi in Riverdale with an unbeatable location (right across from Riverdale Park) drew 18 offers — despite still needing some work.
Four-bedroom homes in the city are still rare, and when they’re priced well, they move fast — often with no conditions.
So while the market is more favourable to buyers overall, if you want something that’s turnkey and in a desirable area, you’ll still face competition.
How Our Client Won With a Bully Offer
After seeing firsthand how competitive the market still is for the good stuff, our clients pivoted strategies.
They wanted to avoid overpaying or needing conditions that might make their offer less attractive. So instead, they identified a property with an offer date next week — and we went in early with a bully (preemptive) offer.
Because they kept the offer price within their comfort zone and went in firm, the sellers accepted — avoiding the hassle of an open house weekend. And the price? Just over $1 million.
This was a smart move because days later, another comparable property received 9 offers and sold for $1.365 million. That’s a big gap — and a win for our clients.
What Properties Are Sitting?
Homes needing significant renovations
Properties priced too high for current market conditions
Tenanted properties (especially under-market rents)
Homes with functional quirks (small lots, no parking)
These properties are sitting longer, but this is where opportunities exist for investors or buyers with a renovation budget.
The Price Spread: Fixer-Uppers vs. Turnkey
We’re seeing distressed semis in the east end sell for as low as $800K to $900K, while comparable fully finished homes are selling for $1.3M to $1.35M.
Even with $150K to $200K in renovation costs, there’s a significant spread — a clear value-add play for investors or buyers willing to take on a project.
Key Takeaways for Buyers & Investors
Turnkey, desirable homes = competition & firm offers
Fixer-uppers & tenanted properties = more negotiation room
Bully offers can work if you’re strategic and move early
Big renovation spreads exist, but you need time, capital, and expertise
How We Can Help
Whether you’re after a move-in ready home or a value-add investment, we’ll help you find the right fit in Toronto real estate.
At Elevate Realty, we work with end-users and investors who want to build wealth the smart way.
- Evaluate cash flow and appreciation potential
- Identify properties with strong upside in emerging areas
- Guide you from analysis to purchase, renos, and rental setup
Want to see what’s possible for you? Book a strategy session with us here.
What Toronto Real Estate Investment Is Right For You?
Check out our complete Toronto real estate investment guide for all the details and real-life examples. If you’re ready to dive in, just book a call with us!
This is for educational purposes only; it does not guarantee future performance or serve as financial, legal, or tax advice.
