The Globe and Mail: Toronto condo sellers are giving up on resistant buyers
CAROLYN IRELAND
TORONTO
PUBLISHED JULY 20, 2022
https://www.theglobeandmail.com/real-estate/toronto/article-…
Struggling sellers in Toronto’s condo market are bringing a wave of units for rent to the downtown core.
“We’ve started to shift a lot of sellers into the rental market,” says Christopher Bibby, broker with Re/Max Hallmark Bibby Group Realty.
Some frustrated owners are trimming their asking price and still not getting showings, says Mr. Bibby, who estimates that condo prices in the city have slipped between six and eight per cent since the peak in early spring.
Last week Mr. Bibby had six listings for sale; this week, three of the properties are going up for lease.