04 January 2021 Posted By : Kayla Gladysz

Top Realtors Predict What 2021 Has in Store for the Toronto Real Estate Market

At this time last year, nobody could have guessed what 2020 would have in store for the world of Toronto real estate.

From flying high (hello, average year-to-date prices) to flatlining (here’s lookin’ at you, downtown condo market), the current local resale and rental scenes could only be described as a Tale of Two Cities — a situation that wasn’t even a topic of interest in late 2019.

While the past 11 months have proven that — try as we might — there’s really no way to predict the future, that doesn’t mean we can’t enjoy the fun of trying. So to close out the year, we’ve tapped some of Toronto’s top realtors for insight into what they expect might play out in the city’s real estate scene through 2021.

From resale market trends to which way the rental market may lean, here’s what these industry insiders have to say about Toronto real estate in the year ahead:

The Resale Market Will Continue to Strengthen

I believe the resale market will only get stronger in 2021, especially with the Canadian government implementing a vaccine,” says Dorian Rodrigues of PSR Brokerage. “This will confidently influence many people, who were sitting on the sidelines, to feel more comfortable [allowing] people through their home and to actually go out and visit available properties.”

Chestnut Park Realty’s Deana Popovic agrees. “With the vaccine being released, historically low interest rates (which are here to stay), and the high levels of immigration targeted by the Federal Government — 2021 has all the gunpowder it needs to be a record setting year,” she explains.

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