Toronto condo prices fell faster than the broader market in Late-Q1 2026, even as condo sales edged higher and market conditions tightened.
Across the GTA, avg. condo apartment prices fell yearly to ~$620K. In Toronto, they reached ~$648K; in the 905, ~$564K.
Condo sales ↑~2% yearly to 1,422 deals. Regionwide avg. selling price fell to ~$1M, while the benchmark index posted a steeper yearly decline.
The downturn had already been underway. In Mid-Q1 2026, condo apartment sales totaled 1,088, with avg. prices near $627K after a yearly drop.
Local officials said improved affordability appeared to draw more households into the market, while buyers still held strong negotiating power across major segments.
A mortgage broker said affordability remained a huge concern. Some buyers found cheaper resales or newbuilds, while earlier buyers faced appraisal challenges and limbo.
Past warnings also pointed to condo project cancellations and delays in Toronto, raising longer-term supply concer