If you’ve been keeping an eye on the Toronto Condo market, you’ve probably noticed—it’s a whole different landscape out there right now.
According to new data from CMHC, condo sales in Toronto have dropped a staggering 75% over the last three years, and resale prices are down more than 13% since 2022. For renters, that might sound like good news. For buyers, it’s an open door. And for investors and developers? It’s a serious pivot point.
We recently read CMHC’s latest market analysis, and here’s the deal: inventories are up, prices and rents are down, and developers are hitting pause on new condo projects. In fact, more than half of pre-construction units in Toronto went unsold in Q1 of 2025—a stat that’s making lenders (and builders) nervous.
But while some see a slowing market, others see rare opportunity.
Our very own Tim Syrianos, Broker/Owner of RE/MAX Ultimate Realty, explains that buyers finally have the upper hand:
“With growing inventories, sellers and builders are more open to negotiation, offering incentives and price reductions not seen in over a decade,” he says. “Smaller condos offer the greatest opportunity for first-time buyers, as they represent the easiest and most affordable entry point into the market..”
Let’s be real—Toronto condos have always been competitive. But right now, we’re seeing a reset. Prices are more realistic, and there’s room to negotiate. If you’ve been priced out before, this might be your window.
But don’t wait too long.
With many projects cancelled or shifted to rental buildings, the long-term supply of Toronto condos is at risk. That means once current inventory is absorbed (and it is starting to move), we could be right back to low supply and high demand.
Tim also points out a trend of investors buying multiple units in bulk, some scooping up deals after buyers walk away from contracts. “Inventory may be absorbed faster than currently projected,” he notes.
Meanwhile, RE/MAX Canada’s latest commercial real estate report echoes this sentiment—calling out stalled developments, rising interest rates, and a shift toward properties that generate steady rental income now, not just future value.
So, what does all this mean for you?
Whether you’re looking to buy your first condo, invest in a rental property, or just understand what’s going on in the market—we’ve got you covered. At RE/MAX Ultimate, we pride ourselves on being your go-to source for all things Toronto Real Estate.
