Drawing on two decades in Ontario’s construction and development landscape, I’ve seen firsthand how different segments of the GTA market respond when conditions shift. By mid-Q3 2026, the average home price in the GTA landed at $993K—about 3% lower year over year—signaling a steady, buyer-friendlier trend across the region. For condo apartments, the average stood at $618K, notably below last year’s mark. But it’s the micro condos—units under 500 sq-ft—that have felt the sharpest depreciation. These smallest offerings have proven especially tough to move, as buyers increasingly prioritize space and are able to negotiate for larger homes. In fact, in early Q3, condos sold below list price in roughly 98% of GTA neighbourhoods with at least five sales, providing buyers with more room to negotiate than we’ve seen in recent years. Single-family homes experienced similar underbidding in about 92% of neighbourhoods, but condos, in particular, have been more affected as investor demand wanes and certain units linger on the market. Our approach has always emphasized not just building, but managing real estate for lasting value—critical perspective as market dynamics evolve.
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