Toronto’s real estate market is currently straddling a fine line between a long-awaited rebound and lingering economic headwinds. While broader economic factors such as interest rate pressures and trade uncertainties continue to weigh on buyer sentiment; specific hyper-local pockets in Midtown Toronto are demonstrating notable resilience.
In a recent The Globe and Mail article published on September 23, 2026, Cheri Dorsey McCann, Broker of Record with McCann Realty Group, shares key takeaways on what is driving real estate activity in neighborhoods like Yonge and Lawrence, and what today's price adjustments mean for sellers and buyers alike.
The Formula for Quick Sales: Location + Turnkey Condition
Despite cautious buyers, select homes in Midtown are still generating bidding wars and quick turnarounds. The common denominator? A highly desirable location paired with a move-in-ready property.
Ms. McCann points to several recent transactions illustrating this dynamic:
- 57 Snowdon Ave.: Listed at $2,599,880, this four-bedroom house attracted three offers and sold above asking for $2.62 million in just two days.
- 172 Roslin Ave.: A dated two-bedroom bungalow near Mount Pleasant Road listed at $999,999 sold for $1.28 million.
- 27 Taunton Rd.: A four-bedroom semi near Mount Pleasant and Eglinton Avenue East listed at $1.995 million sold for $2.1 million.
Price Adjustments & The Discount on "TLC" Properties
While turnkey properties are commanding strong interest, homes requiring updates or significant work face a very different reality.
Take 77 St. Germain Ave., a three-bedroom detached property with many original features:
- July Listing: $1.75 million (failed to sell)
- September Relist: $1.585 million
- Final Sale: Sold in four days for $1.6 million
"It’s surprising the amount we’ve come down in all categories," McCann observes, noting that in some areas, properties are trading 25% to 30% below peak values.
Furthermore, builders are no longer scooping up fixer-uppers or tear-downs at the rate they once did, making challenging locations and major renovation projects harder to match with the right buyer.
Seasonal Lulls, Buyer Sentiment, and the Need for Seasoned Expertise
The market also suffered from a quieter summer than last year, with many listings being overlooked regardless of realistic pricing. "No one really was looking in the summer," McCann explains.
However, as fall sets in, buyer behavior is shifting. While pricing remains tricky due to various factors (e.g. interest rates, economy), buyers are increasingly expressing that home values are leveling out.
In a transitional market like this, working with a seasoned real estate agent is paramount. Navigating steep price recalibrations requires far more than automated valuation tools or surface-level neighborhood averages. An experienced agent provides crucial value by:
- Navigating Tricky Pricing Dynamics: Identifying the precise sweet spot for an ask price so a property generates competitive interest rather than sitting ignored on the market.
- Recognizing Micro-Trends: Reading hyper-local signals; knowing exactly when buyer activity is picking back up after a seasonal lull and how local demand shifts block by block.
- Mastering Negotiation in Unpredictable Waters: Protecting clients from overpaying in deceptive bidding scenarios or helping sellers evaluate firm versus conditional offers when buyer sentiment is fragile.
Strategic Takeaways for Buyers and Sellers
For Sellers: Pricing strategy is paramount. Holding out for peak-era values is no longer realistic. Turnkey homes in top locations continue to win competition, but properties needing renovation require strategic pricing, expert representation, and patience.
For Buyers: Value opportunities exist, particularly in land-value properties or homes needing work where builder competition has cooled. However, premium locations still require decisive action when a turnkey property hits the market
Source:
https://www.theglobeandmail.com/real-estate/toronto/article-buyers-picky-but-good-location-and-condition-help-spur-a-sale/
