Toronto real estate market faces slow summer with increased inventory, low sales. Condo prices drop 8% in central Toronto. Buyers empowered by listings, employing ruthless tactics. Sellers experiencing pressure with high number of price reductions. Market conditions softest since 2008-2009. Buyers hesitant due to economic uncertainty. Slow transition expected, no quick rebound anticipated. High-pressure negotiations causing challenges. Sellers advised to adjust prices realistically. Potential stabilization in fall if positive signals emerge.
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