If you have been following the Toronto real estate market this month, you know that a major shift is underway. The Building Industry and Land Development Association (BILD) just released its latest market report on June 22, 2026, and the numbers have sent shockwaves through the industry.
According to the data, the pre-construction condo market has slowed to a crawl. Only 193 new pre-construction condos were sold across the entire Greater Toronto Area last month—an astonishing 89% below the 10-year average. In fact, developers are pulling back so much that only one new high-rise project has launched in all of 2026 so far.
Why the sudden halt? Buyers are tired of the waiting game. Faced with complicated new HST rebate rules, unpredictable construction timelines, and high legacy pricing, today’s buyers are prioritizing one thing above all else: Certainty.
Here is why savvy buyers and investors are pivoting away from pre-construction and choosing the move-in-ready units at Riverside Square instead.
1. What You See is What You Get
Buying a pre-construction condo means purchasing a floor plan on a piece of paper and hoping the final product matches your vision five years down the road.
At Riverside Square, the guesswork is eliminated. You can physically walk through the suite. You can see exactly how the morning light hits the living room, test the premium industrial finishes, and verify the ceiling heights. Whether you are looking at the boutique loft styles of 15 Baseball Place or the sweeping skyline views at 45 Baseball Place, you know exactly what you are paying for on day one.
2. No Hidden Closing Costs or Development Levies
One of the biggest risks in the pre-construction market is the dreaded "final closing." Buyers often get hit with tens of thousands of dollars in unexpected development charges, education levies, and utility connection fees years after signing their initial contract.
When you purchase a resale or recently completed assignment unit at Riverside Square, the price you negotiate is the price you pay. The building is registered, the developer levies are settled, and your financial planning remains intact.
3. Immediate Move-In (and Immediate Rental Income)
According to the BILD report, pre-construction buyers are increasingly nervous about project delays. With high interest rates over the past few years, many developers have pushed back occupancy dates repeatedly.
If you are an end-user, buying a move-in-ready unit at 25 Baseball Place means you can get your keys in 30 to 60 days and enjoy the vibrant Queen Street East lifestyle this summer. If you are an investor, purchasing a unit at 30 Baseball Place means you can place a premium tenant immediately, generating cash flow from day one rather than tying up your deposit money in a dirt lot for half a decade.
4. Better Value Per Square Foot
The BILD report noted that the benchmark price for remaining new pre-construction condos sits at a stubborn price floor of roughly $1,029,489. Developers are locked into high construction and material costs, making it nearly impossible for them to drop prices.
The resale market is entirely different. Individual sellers are motivated, and there is currently enough inventory to give buyers actual negotiating power. You can often secure a practically brand-new suite at 665 Queen Street E—complete with heritage charm and modern luxury—at a significantly better price per square foot than a pre-construction unit that won't be built until 2030.
The Bottom Line
The June 2026 BILD report confirms what we have been seeing on the ground: the era of blind bidding on unbuilt towers is pausing. Today’s buyers want tangible assets, immediate utility, and financial predictability.
If you are ready to stop waiting and start living in one of the East End’s most dynamic communities, explore the move-in-ready options at Riverside Square today.
Interested in viewing an available suite? Contact our team today riversidesquarecondos.ca to book a private tour of Riverside Square.
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