In June, Toronto Regional Real Estate Board (TRREB) reported more than an 80% year-over-year increase in active condo listings. This month, the market continued in its lopsided fashion with July seeing a nearly 64% increase in active condo listings compared to the same month last year.

Active condo listings totalled 8,979 in July, reported TRREB, up from 5,416 in July 2023. On a broader scale, just last week, quarterly numbers showed that listings in Q2 2024 jumped a staggering 83.6% from the same six-month period in 2023.

At the same time, sales have been on the slump for months while condo prices have remained “sticky,” experts say. The result is that there is a surplus of inventory that isn’t becoming more appealing to would-be buyers anytime soon.