The market you're actually selling into
Toronto's condo inventory has been sitting at multi-year highs, and buyers know it. On average, condos are selling below their original asking price, and units are taking longer to move than they did a few years ago. That's the real environment right now. Pretending otherwise with an optimistic list price usually costs sellers more in the end, through extra weeks of carrying costs and the stigma that comes with a stale listing.
The sellers doing well right now aren't always the ones with the best unit. Often they're just the ones who priced accurately from day one and gave buyers a clean reason to act before someone else's better-priced unit does.
What actually moves a unit in this market
- Accurate initial pricing: based on real recent comparables in your specific building, not the whole neighbourhood average
- A clean status certificate: buyers are reading these closely right now, and a well-documented reserve fund removes a common reason to walk away
- Honest staging: larger, older-building floorplans photograph better when they're shown as spacious rather than dressed to look like a new-build showroom
- Speed to market: the first two weeks of a listing get the most attention, and a slow price-adjustment strategy rarely recovers that momentum
When the sale isn't optional
If cash flow, a job relocation, or an upcoming purchase means this sale needs to happen on a timeline, say so early. It changes the pricing conversation. Motivated sellers who price to the current market, rather than last year's, are consistently the ones who close cleanly instead of watching a listing go stale.
What selling actually costs
These are current ballpark ranges, not quotes. I'll walk you through your specific numbers before you list.
- Commission: the common range across the GTA is 4% to 5% of the sale price plus HST, usually split between the listing side and the buyer's side. Rates aren't fixed by law and are always negotiable
- Legal fees: commonly $900 to $2,000 for a straightforward condo sale
- Status certificate: $100 to $200. Sometimes the seller orders it upfront to speed up the deal, sometimes the buyer's lawyer requests it. Worth deciding early
- Mortgage discharge or prepayment penalty: varies a lot depending on your lender, rate, and how much time is left on your term. Ask your lender before you list, not after you've accepted an offer
- Staging or prep: anywhere from $0 if you do it yourself to several thousand for full professional staging, depending on how much help your unit needs
One piece of good news: land transfer tax is a buyer's cost, not yours. That's one line you won't see on your closing statement.
Getting your unit ready
Before anything goes on the market, your unit needs to actually show well. Four things matter most:
- Declutter to make the space look as big as possible. Space is the biggest challenge in condo living, so less is more. Remove personal items and anything oversized that makes a room feel smaller
- Fix the small stuff. Scratches, holes, leaky faucets, and grubby caulking all cost buyers' confidence more than they cost you to repair
- Stage every room for its intended use. If your second bedroom has become storage, turn it back into a bedroom for photos and showings
- Clean it properly, then clean it again. Buyers open closets and cupboards. Everything needs to be spotless, not just the rooms they'll walk through
A few things specific to condos: don't let parking spots or lockers become a dumping ground, since buyers view those too. Watch for lingering cooking smells and litter boxes. And it never hurts to give your immediate neighbours a heads up before showings start.
Before every showing
Once you're listed, treat every day like a showing could happen. The quick checklist:
- Beds made
- Kitchen counters clear, no dishes in the sink
- Bathroom tidy, towels hung, nothing on the floor
- Garbage out
- Litter box cleaned
- Floors swept or vacuumed
- Valuables put away
- Lights on, blinds open
And if you can, leave the unit during showings. Buyers explore more freely, open closets, and picture themselves living there when the seller isn't standing in the room.