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Canadian Condo Market Crashes: Prices Plummet Amid Oversupply

1/3/2026

42 6 Full Breakdown

Summary

Story summary

The Canadian condo market faces a downturn, with thousands of unsold units, especially micro-condos, driving prices lower.
Maggie Hildebrand, a resident of a 300-square-foot condo, describes feeling isolated.
Micro-condos once priced around C$500,000 now resell for C$300,000 or less.
Experts attribute the slump to oversupply, a decline in immigration, and rising interest rates.
Some buyers hesitate to enter, anticipating further price drops.

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Story summary

The Canadian condo market faces a downturn, with thousands of unsold units, especially micro-condos, driving prices lower.
Maggie Hildebrand, a resident of a 300-square-foot condo, describes feeling isolated.
Micro-condos once priced around C$500,000 now resell for C$300,000 or less.
Experts attribute the slump to oversupply, a decline in immigration, and rising interest rates.
Some buyers hesitate to enter, anticipating further price drops.