Story perspectives

Canada's Condo Market Plummets: Sales Down 75%!

7/15/2025

47 6

Summary

Story summary

Canada’s condo market is facing a downturn, with Toronto sales down 75% and Vancouver down 37% from 2022 to early 2025.
Unsold condo inventory has surged by 400%, driven by unaffordable investor-focused units amid rising interest rates.
Prices have decreased by 13.4% in Toronto and 2.7% in Vancouver, leading to increased project cancellations.
Experts suggest this downturn is a market correction after two decades of price growth, warning of potential supply shortages ahead.

1 of 1

Story summary

Canada’s condo market is facing a downturn, with Toronto sales down 75% and Vancouver down 37% from 2022 to early 2025.
Unsold condo inventory has surged by 400%, driven by unaffordable investor-focused units amid rising interest rates.
Prices have decreased by 13.4% in Toronto and 2.7% in Vancouver, leading to increased project cancellations.
Experts suggest this downturn is a market correction after two decades of price growth, warning of potential supply shortages ahead.