Why You Should Keep Your Midtown Toronto Condo (And 5 Rules if You Need to Sell)
If you’ve been paying attention to the weather or the real estate market in Toronto lately, you know both have been stuck in what can only be described as a "long winter". But as we move through 2026, the traditional rules of the game have been tossed out the window. Seasonality—that old reliable cycle of spring booms and winter hibernations—has become almost irrelevant.
Instead, we are living in a psychological market. Every move is now dictated by economic uncertainty, global trade tariffs, shifts in US-Canada relations, and the looming question of whether owners can afford their next mortgage payment.
If you own a condo in Midtown, anywhere from Lawrence Park down to Yorkville, you are likely standing at a crossroads. You see the "For Sale" signs sitting for months and hear the chatter about record-low prices.
My advice? If you don’t need to sell today, don’t.
Yes, I am a real estate agent telling you NOT to sell right now if you don’t have to. Maybe its bad for my business, but I’m also a property owner / condo investor like many of you so I am speaking from what I believe and practicing myself.
Unless you have a life-altering reason to move, there is no reason to jump into this arena. However, if your long-term strategy requires a sale, or if the carrying costs have become a "headache and stressful piece of your life," you must adapt. The 2021 playbook is dead. To sell in 2026, you need to follow these five hard truths.
1. Stop Playing Games: The Death of the "Bait Price"
For years, Toronto sellers used a simple trick: list low, set an offer date, and watch the bidding war begin. In today's buyers' market, this tactic is not only failing—it’s backfiring.
The Failed Tactic: We are seeing studios listed in the high $200s solely to get "eyes on the listing," even though the owners have no intention of accepting that price.
Buyers Are Over It: Buyers know the ball is in their court and feel no urgency to enter a bidding war they no longer need to play.
Transparency is Required: In 2026, the foundation of a sale is "transparent and realistic pricing". If you aren't honest about what you want, buyers will simply walk away and choose one of the hundreds of other available units.
2. Get Your Tenant Out: Why Vacant Units Win
If you are an investor-landlord, this is the hardest pill to swallow. But trying to sell a tenanted unit in a market where buyers are "picky like they have never been" is a recipe for failure.
The Accessibility Barrier: Showings in this market often happen last-minute. If a tenant requires 24 hours' notice, you are essentially closing the door on the most motivated buyers who value "ease of access".
The First Impression: Buyers are looking for a move-in-ready dream, not a tenant's laundry or dishes. Vacant, staged units show better and sell for more money because they allow the buyer to visualize their own life there.
The Rental Competition: The rental segment has "blown up," and luxury rentals in Midtown are now offering incredible amenities for as low as $2,500 to $3,000 a month. If your unit doesn't look significantly better than a brand-new rental, a buyer will just keep renting.
3. Listen to the Buyer: Conditions are Not the Enemy
The days of "firm" offers with no conditions are a relic of the past. Today’s buyers are comfortable, relaxed, and in no rush.
The Return of Power: Buyers are now in a position to have more control over conditions and clauses. They will demand financing conditions and status certificate reviews to protect themselves against economic unknowns.
Get an Offer on the Table: Your goal is to start a negotiation. In a market where listings are up and sales remain down, any offer is a victory.
Flexibility Wins: Sellers who react and adjust to the buyer's needs are the ones getting "Sold" stickers. If you refuse to accept conditions, you are essentially refusing to sell in 2026.
4. Your Property is Worth What the Market Demands TODAY
The most successful sellers are the ones who stop looking at 2022 spreadsheets and start looking at 2026 stats. You cannot argue with the numbers.
The $900 PSF Reality Check: Most condos in Midtown that are actually selling are being listed below $900 per square foot.
Don't Chase the Market Down: If you overprice on day one, you will sit for "months upon months" and eventually sell for much less than asking. You need to price your property at what the market is demanding today, not what you need to break even.
The "Unknown" Factor: With an influx of new units entering the market as buildings complete in 2026, waiting too long to lower your price could mean competing with even more inventory later.
5. Weather the Storm: The 2029 Reward
If you have the financial fortitude to hold your property, the long-term outlook is far brighter than the current "winter" suggests.
It Gets Worse Before it Gets Better: We are currently seeing "bottom of the barrel" pricing and intense financial pressure on sellers. Expect more inventory and potentially more price drops as people who cannot close on pre-construction units are forced to sell at massive discounts.
The 2029 Supply Gap: While the market feels flooded now, the lack of new project starts today means that by 2029, new supply will effectively hit zero. When that happens, the pendulum will swing back violently in favor of owners.
Know Your Numbers: Do the math on what it costs you to make it through the next three years. If you can "weather the storm" without compromising your quality of life, you will likely be rewarded for your patience.
The Hold Strategy: The plan should always be to hold until you must absolutely sell. Real estate is a blip over the span of a decade if you act with a long-term vision.
The Final Word: Strategy Over Hype
Real estate in Toronto is no longer a way to make a "quick buck". It requires a commitment to a long-term vision—at least five years. If you are selling, do it because it fits your life's goals, not because you're trying to time a "blip" in the market.
Act with your mind and heart together, stay realistic, and remember: in a buyers' market, the seller who provides the most value and the least amount of "games" is the one who wins.