Fox Marin Featured in Livabl: Oversupply and Rental Vacancies Pressure Toronto’s Condo Market

Publication: Livabl
Date: October 2, 2020
Topic: Toronto condo market slowdown, rising inventory, and changing buyer demand during COVID-19

About This Feature

Ralph Fox and Kori Marin of Fox Marin Associates were featured in Livabl discussing the growing challenges facing Toronto’s condominium market during the COVID-19 pandemic. The article explored how rising condo inventory, increasing rental vacancies, and shifting buyer preferences were creating downward pressure on pricing and fundamentally changing market conditions across the city.

The feature also examined how some condo properties continued to perform strongly despite broader market weakness, particularly those offering outdoor space, unique layouts, and more residential character.

Quotes from Livabl

“It’s the inventory that’s sitting out there, the inability for investors to rent out their units and some people [who are] considering moving out of the city, which is really causing all of this inventory to come online.”

— Ralph Fox, Broker of Record, Fox Marin

“I think [with] condos, it’s really going to come down to uniqueness. If they are going to sell in a more unique marketplace with more supply, outdoor space has a lot of value, smaller boutique neighbourhoods have a lot of value.”

“All of these kinds of characteristics that make condos feel more residential versus feeling more hotel-like, rather than the bigger towers make them more saleable.”

“I think it would be an amazing time for people who have not been able to get something at an exceptional price. And it’s people who are thinking long-term, and thinking really smart.”

— Kori Marin, Co-Founder, Fox Marin

Fox Marin’s Perspective on the Market

Fox Marin’s perspective is that the pandemic created a significant shift within Toronto’s condominium market by rapidly increasing inventory levels and altering buyer priorities across the city.

The article highlighted how declining rental demand, fewer international students, reduced immigration, and the collapse of short-term rental activity all contributed to a surge of condo listings entering the market simultaneously. Many investors who had accumulated substantial equity over previous years began considering selling as rental vacancies increased and leasing conditions softened.

Fox Marin also emphasized that not all condominiums were being affected equally. Properties with outdoor space, boutique characteristics, larger layouts, and more residential feel continued attracting stronger buyer interest despite broader market weakness. Condos that felt more like traditional homes rather than high-density investor product proved particularly appealing during the pandemic environment.

The article further explored how changing lifestyle priorities were influencing buyer behaviour. As more people worked from home and spent greater time indoors, buyers placed increasing importance on functional space, privacy, outdoor access, and overall livability within condo environments.

From Fox Marin’s perspective, the market slowdown also created opportunities for long-term buyers who had previously struggled to enter Toronto’s housing market during more competitive years. Increased inventory and softer pricing conditions provided buyers with greater selection and negotiating power than had existed previously.

Why This Matters

The pandemic marked a major turning point for Toronto’s condominium market, exposing how quickly market dynamics can shift when supply, rental demand, and buyer behaviour change simultaneously.

For sellers and investors, the article highlighted the importance of understanding how evolving market conditions can impact pricing, demand, and property performance. Strategic positioning, realistic expectations, and property differentiation became increasingly important within a more competitive condo landscape.

For buyers, the market created opportunities that had been difficult to find during previous years of rapid price growth and limited inventory. Increased selection and softer conditions allowed many purchasers to approach the market more thoughtfully and strategically.

The article also reflected broader changes in how buyers evaluate condominiums and urban living. Features such as outdoor space, flexible layouts, and neighbourhood character became increasingly valuable as lifestyle priorities shifted during the pandemic era.

Read the full article of Livabl