Fox Marin Featured in Livabl: How Selling Downtown Toronto Condos Changed During the Pandemic

Publication: Livabl
Date: December 29, 2020
Topic: Toronto condo market during COVID-19, seller strategy, and changing buyer behaviour

About This Feature

Kori Marin and Ralph Fox of Fox Marin Associates were featured in Livabl discussing how the COVID-19 pandemic dramatically reshaped Toronto’s downtown condo market and forced both sellers and agents to adapt to rapidly changing conditions.

The article explored how rising condo inventory, softer demand, declining prices, and shifting buyer priorities transformed the sales process throughout 2020. It also examined how experienced agents adjusted pricing strategies, marketing tactics, and seller expectations in response to one of the most challenging condo markets Toronto had seen in years.

Quotes from Livabl

“The sellers that are going to do well are going to be the ones that are working with experienced agents who can offer all of the various levels of service that would put their listing out on their best foot forward, and make sure [listings are] priced right in today’s market, not in yesterday’s market or six months ago.”

“The demands that buyers are putting on [offers] are much, much higher than they’ve ever been before.”

“As listing agents, we are experiencing more back and forth from the time an offer gets accepted to completion than we ever have before.”

— Ralph Fox, Broker of Record, Fox Marin

“I think we’ve always been very driven to making it a personal experience about the actual suite, but we’ve often highlighted the neighbourhood, and I do think we have adjusted [to that].”

“We’ve definitely seen low-ball offers and we’ve definitely seen offers with more conditions and we’ve worked harder than ever before to make those offers work.”

“I think sellers need to be open-minded, and I think they need to be flexible.”

— Kori Marin, Co-Founder, Fox Marin

Fox Marin’s Perspective on the Market

Fox Marin’s perspective is that the pandemic fundamentally changed the dynamics of Toronto’s downtown condo market and forced sellers to become more strategic, realistic, and adaptable throughout the sales process.

The article highlighted how rising condo inventory and changing buyer demand shifted negotiating power toward purchasers for the first time in years. Buyers became more selective, more cautious, and increasingly willing to include additional conditions and aggressive negotiation terms within offers. As a result, sellers needed to adjust expectations surrounding pricing, timelines, and overall market conditions.

Fox Marin also emphasized the growing importance of professional marketing and presentation during a more competitive market cycle. Pricing properties according to current conditions rather than past peak values became critical, while listing descriptions and marketing materials evolved to reflect changing buyer priorities during the pandemic. Features such as outdoor space, parks, and lifestyle flexibility became more important than proximity to nightlife or downtown entertainment.

The article further explored how buyer behaviour evolved throughout the pandemic. While virtual tours and video walkthroughs initially became essential tools during lockdown periods, buyers still ultimately wanted to develop an emotional connection to properties through in-person experiences whenever possible.

From Fox Marin’s perspective, success during challenging market conditions depended on flexibility, strong communication, strategic pricing, and understanding how rapidly changing buyer psychology was influencing the downtown condo market.

Why This Matters

The COVID-19 pandemic marked one of the most significant shifts Toronto’s condo market had experienced in decades. Changes in buyer behaviour, lifestyle priorities, and market dynamics forced both buyers and sellers to rethink how condominiums were marketed, negotiated, and valued.

For sellers, the article highlighted the importance of adapting quickly to changing market realities rather than relying on outdated expectations from previous market conditions. Strategic pricing, strong marketing, and professional guidance became increasingly important as competition among condo listings intensified.

The article also reflected broader changes occurring across Toronto real estate, where flexibility, presentation, and buyer psychology were becoming more influential in determining successful outcomes. Many of the shifts that emerged during the pandemic, including digital-first marketing and evolving lifestyle preferences, continue to shape the market today.

As market conditions evolve, understanding how buyer priorities change during different economic cycles remains essential for navigating Toronto real estate successfully.

Read the full article of Livabl