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Here's the salary you need to earn to afford a home in Toronto right now

It may be one of the worst times in years to try and sell a home in Toronto, but conversely, those in the market to buy a property may be able to land themselves somewhat of a deal (relative to the city's infamously ludicrous prices, that is).Prices are finally starting to erode in the face of a terribly stagnant market, most notably in the condo sector, where fewer units are changing hands than ever in the last three decades.According to the latest data from the Toronto Regional Real Estate Board (TRREB), the average price of the typical GTA condo fell 2.6 per cent from March 2024 to the month prior, while the average price of a home of any type is down a similar 2.5 per cent over the same period.Sales have dropped a staggering 23.1 per cent year-over-year, while active listings have shot up 88.8 per cent, giving buyers the advantage of choice and negotiating power.As such, along with a Bank of Canada mortgage rate cut in March, the annua...


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