The GTA condo market is still soft, but the underlying picture is beginning to change.

New and active condo listings both fell 14% year-over-year in August, helping bring months of supply down to 5.9 from 6.6 a year ago. Prices remain under pressure, declining 3.6%, but those declines are considerably milder than what was recorded earlier in the year.

Demand is also highly price-sensitive. Condos under $500K accounted for 39% of August sales, while activity also strengthened at the $1.5M+ end of the market. The middle price ranges remained more subdued.

Tap through for a closer look at the GTA condo market, and reach out to understand what these shifts mean for you.