The "tale of two markets" in the Greater Toronto Area (GTA) real estate refers to the contrasting trends between the **detached home market** and the **condominium apartment market**.

Detached Homes
- Prices Rising: Detached home prices have been on a steady rise, with a 22% increase since the COVID low in April. However, the crazy bidding wars are gone with most sellers getting close to their asking price. 
- High Demand: Sales have exceeded 5,000 units in each of the last four months, creating a strong sellers' market.
- Low Inventory: Inventory is below 1.5 months, indicating a high demand and low supply situation.

Condominium Apartments
- Flat Prices: Condo prices have remained flat for the past five months and are now showing signs of decline.
- Increased Inventory: Active listings have risen by 50% since May, leading to a surplus of condos on the market.
- Changing Buyer Dynamics: Many condo owners are moving to detached homes, driven by the pandemic and the desire for more space. Also, investors, who were the primary buyers of condos, are backing out of the condo market because it is becoming difficult to cash flow and condos are not appreciating like they use too.

- Changing markets: The older condos will do well because they offer bigger spaces and better living spaces. On the other hand, newer condos will continue to struggle because they are too small for the average buyer to live in. Investors are no longer interested because they are having a hard time finding properties that provide positive cash flow and the lack of appreciation are keeping buyers away from newer condos.  

These diverging trends highlight the different dynamics at play in the GTA real estate market. Detached homes are in high demand with rising prices, while the condo market is experiencing a slowdown with increasing inventory.

Is there a specific aspect of the GTA real estate market you're interested in?