Toronto’s condo market: plenty of choice today—but what’s coming next?

Toronto’s condo market is giving buyers something they haven’t always enjoyed: choice. Actual choice. Time to compare properties without feeling you need to make a life-changing decision before you’ve even found the parking space.

In September, the average GTA condo apartment selling price was down 7.7% compared with a year earlier, with 8,226 active listings at month-end. That’s a market-wide average, of course—not a discount automatically attached to every condo.

But there’s another part of the story.

According to CMHC, construction started on just 156 condo units in the City of Toronto during the first half of 2026. Over the previous decade, the city averaged approximately 7,000 starts annually. Those are different reporting periods, but the slowdown is striking.

That doesn’t mean every crane has packed up and gone home. Projects already underway can still deliver homes. It does mean far fewer new condo projects are getting started—a concern for future supply, rather than proof that prices are about to shoot up.

For buyers looking in Toronto and Etobicoke, my advice is straightforward: use the choice available to you.

Compare layouts, buildings, parking, storage and monthly costs. A lower purchase price is helpful, but it isn’t the whole calculation.

And please don’t fall so deeply in love with the kitchen that you forget to look at the building’s finances. Quartz countertops are lovely. They won’t contribute to the reserve fund.

Before committing to a resale condo, have your lawyer review the status certificate and supporting documents. They provide important information about fees, reserve funds, financial statements, legal issues and disclosed assessments or potential fee increases. They aren’t a guarantee against every future expense.

Pre-construction buyers receive disclosure documents too, but they’re making a different decision from someone assessing an established building’s operating history.

There may be opportunities in this market. The sensible move is to understand the unit, the building and your budget—not simply chase the biggest reduction.

Thinking about buying or selling a condo? Let’s have a conversation and work out what the Wright Move looks like for you.