RESALE CONDO MARKET: BUYERS MARKET DEEPENS
The GTA condo resale segment continued to weaken, showing clear signs of oversupply and declining buyer activity — creating some of the most favourable conditions for buyers in decades.
Sales activity remains sluggish, while new listings continue to surge, pushing the resale-to-new listings ratio to 25% — the lowest on record, and a definitive marker of a strong buyer’s market. Inventory has reached historic levels, with active condo resale listings hitting 9,702 units — up 42% year-over-year and a staggering 152% over two years. Months of inventory rose to nearly seven — almost triple the 10-year average — signaling continued downward pressure on pricing.
CONDO RENTAL MARKET: DEMAND IMPROVES, BUT RENTS DECLINE
The GTA condo rental market continued to face downward pressure on rents through May. However, market conditions showed early signs of tightening as demand kept pace with supply. Lease transaction volume grew by 24% year-over-year. The lease-to-new listings ratio reached 85% — the highest level since July 2024. Active listings at month-end rose 17% annually, a slower pace than the 30% increase seen in March. Inventory stood at 0.9 months of supply. Average rents declined 5.3% year-over-year — the lowest level in three years.
WHERE DO WE GO FROM HERE?
The GTA real estate market remains highly segmented. The rental market is showing renewed interest, the condo resale market is oversupplied, and select freehold pockets are holding firm.
Smart investors and well-prepared buyers now have more options than ever, but the gap between buyer expectations and seller pricing continues to stall deal flow.
As market dynamics continue to evolve, staying informed and realistic is critical — whether you’re buying, selling, or renting.
