Selling a condo.

FAQ

Condo FAQ — what sellers ask

Direct answers about condo selling in the GTA. Specific numbers, Ontario regulations, 2026 market data.

• What's the average condo fee in Toronto in 2026?

  Roughly $0.65–$0.85 per square foot per month, so a 700 sqft condo averages $455–$595/month. Newer downtown buildings (2020+) often run $0.80+/sqft; suburban condos average $0.55/sqft. Fees typically include utilities (heat, water), building insurance, common-area maintenance, and amenity access (pool, gym, concierge). Hydro is sometimes excluded — verify the listing.

• Should I review the status certificate before or after I offer?

  Before the offer is conditional on review — you have 10 days from request to read it. The status certificate discloses: reserve fund status, current + planned special assessments, ongoing litigation, declaration + bylaws, and any rule changes. A weak reserve fund or pending $20k+ special assessment is the most common reason buyers walk away from an otherwise-attractive unit.

• Can I sublet or short-term rent (Airbnb) a Toronto condo?

  Long-term sublets (12+ month leases) are protected by Ontario's Residential Tenancies Act and override most condo bylaws. Short-term rentals (under 28 days) are restricted by Toronto's STR licensing — only the principal residence can be rented short-term, requires a permit, capped at 180 nights per year. Most condo boards also explicitly ban Airbnb in their bylaws. Investors should plan around long-term tenancy only.

• Are pre-construction condos a good investment in Toronto in 2026?

  Mixed. Pre-construction launches in 2026 are priced $1,200-$1,800 per square foot in downtown Toronto — at or above current resale pricing for completed units. Returns depend heavily on: (1) holding period (3-5 years to occupancy + registration), (2) assignment-clause flexibility, (3) HST rebate eligibility, and (4) interest-rate direction. Resale condos in the same area often offer better entry-pricing today.

• How long do condos take to sell in Toronto?

  GTA condo average for 2026 is approximately 47 days on market for downtown units and 39-42 days for suburban condos. The first 14 days drive about 70% of total showings — getting pricing right and photos out on day one is everything. Premium $1M+ units in Yorkville or on the waterfront typically take 60+ days because the buyer pool is thinner.

• How long does it take to sell a home in the GTA?

  Average days on market in 2026: detached 36-44 days, semi 35-42 days, town 38-45 days, condo 39-47 days. The first 14 days drive 70% of total showings — pricing + photos + marketing must launch fast. Premium $2M+ homes often take 50-70 days due to thinner buyer pools. Worst case (over-priced from launch): 90-120+ days requires a major price reset, which signals to the market and depresses the final sale by 5-10%.

• What should I do to prepare my home for sale?

  Three priorities in order: (1) declutter + deep clean — single highest ROI move. (2) Staging — typical $4k-$8k staging investment returns $30k-$80k in sale price. (3) Strategic repairs only — fix obvious deferred items (peeling paint, broken fixtures, dated light fixtures); don't renovate kitchens or bathrooms unless dated kitchen is dragging price below comps by more than the renovation cost.

• What commission do real estate agents charge in Ontario?

  Total commission typically 5% of sale price (2.5% to listing agent, 2.5% to buyer agent) on residential. Negotiable — some agents offer 4-4.5%, full-service flat fee, or tiered pricing on luxury homes ($3M+). HST is added on top. Compare offerings carefully: marketing budget, professional photography, broker network, negotiation experience often matter more than the % rate alone.