We’re seeing notable shifts in the GTA condo market, especially for micro-condos under 500 sq-ft. The average GTA home sold for $993,000 in Mid-Q3 2026, about 3% less than a year ago, reflecting a broader trend of easing prices for buyers. Condo apartments averaged $618,000, also down from last year. The smallest condos, however, faced the sharpest depreciation and have become the toughest to sell—buyers are showing more interest in larger units, and the appeal for these micro spaces has faded.
What stands out: in Early-Q3, about 98% of GTA neighbourhoods with at least five sales saw condos selling below list price, giving buyers significant negotiating power. Even single-family homes experienced underbidding in roughly 92% of neighbourhoods, but condos felt it more as investor demand softened and more units stayed on the market.
As someone who’s built a career out of real estate investing, I’m always analyzing these trends with my clients so they can make informed decisions when it matters most. Keeping a pulse on which segments are shifting fastest is key to navigating opportunities and risks in today’s evolving GTA market.
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