Back to today’s briefing

Story perspectives

GTHA Condo Sales Plunge 69%, Prices Drop Amid Crisis

7/18/2025

50 8

Summary

Condo Market Collapse

The GTHA condo market faces a significant downturn, with Q2 2025 sales plummeting 69% year-over-year.
Median condo prices decreased by 5.6%, now at $699,700, alongside a record unsold inventory of 2,478 units.
Since early 2024, developers have canceled 21 projects, resulting in a loss of 4,412 housing units.
Urbanation highlights persistent challenges, including job losses and financial pressures affecting buyers and developers.

Summary

Housing Start Recovery

Canada's housing starts rose 0.4% in June, totaling 283,734 units, defying economic uncertainty.
The six-month trend increased by 3.6%, reaching 253,081 units, signaling a recovery in construction.
Vancouver experienced a remarkable 74% year-over-year surge in housing starts, while Toronto's multi-unit starts fell by 47%.
Regional disparities remain, with only three provinces showing month-over-month growth in housing starts.

1 of 2

Condo Market Collapse

The GTHA condo market faces a significant downturn, with Q2 2025 sales plummeting 69% year-over-year.
Median condo prices decreased by 5.6%, now at $699,700, alongside a record unsold inventory of 2,478 units.
Since early 2024, developers have canceled 21 projects, resulting in a loss of 4,412 housing units.
Urbanation highlights persistent challenges, including job losses and financial pressures affecting buyers and developers.

1 / 2