By Q1 2026, Toronto condo affordability had returned to 2019 levels as prices fell faster and incomes kept rising, improving conditions for sidelined buyers.
Toronto households spent ~36% of pre-tax income on condo ownership in Q1 2026, down from ~39% in late 2019 but above the ~30% guideline.
Recent Toronto sales showed some small downtown condos under 700 sq-ft trading below 2017 prices, while some agents also saw units selling near 2019 levels.
In Toronto, product mattered more than area: larger, unique corner units in boutique buildings tended to outperform more typical seventh-floor highrise units.
Toronto condo buyers gained some relief, but higher fees, property taxes, utilities and borrowing costs meant affordability still stayed stretched; single-family homes remained far tougher.
Sales are up and listings are shrinking. Is now the time to buy a home in Toronto?
Canadian home sales rose 5.5% month-over-month in May, marking the first significant increase this year. In the Greater Toronto Area, sales increased 6.3% year-over-year, while average home prices fell 4.6% to about $1.07 million. Buyers...
