Author: Samer Al Hashlamoun

As someone deeply invested in the full spectrum of real estate—from construction and development to long-term asset management—I’ve been closely following the recent shifts in GTA homebuyer dynamics. In mid-Q3, only 2% of qualifying GTA neighbourhoods experienced overbidding, down from 3% earlier in the quarter. Out of 267 neighbourhoods, 97% saw homes sell below asking and just 1% sold at asking price, making bidding wars a rare event across the region. Notably, the gap between condo and single-family home markets continues to narrow: 95% of single-family neighbourhoods and 98% of condo neighbourhoods saw underbidding. With 4,200 homes sold in this period, 79% closed below asking—a subtle uptick from the previous quarter. This quieter market, as one economist described, means that buyers are facing less competition than before. For those navigating the property lifecycle, these trends underscore the importance of a long-term perspective and a strategy that adapts to changing conditions—something our multi-generational approach is built to deliver.

Canada is widening its economic horizons beyond its traditional partnership with the U.S., with a strong focus on engaging with European markets. This shift isn’t just about increasing trade—it’s about creating new pathways for investment in energy, AI, critical minerals, and infrastructure. For those of us deeply involved in Ontario’s construction and development landscape, these evolving partnerships could mean fresh opportunities to channel capital into innovative projects and robust property ventures. As a family-led team rooted in every stage of the property lifecycle, we know that the next era of Canadian growth will be shaped as much by where we build international bridges as by what happens south of the border. The foundation for lasting value may well be laid in these new global connections.

National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences.
It's a symbol of Canada's commitment to reconciliation with Indigenous communities.
Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools.
May this day inspire a future where every voice is heard, and every spirit is healed.
Together, we can create a tomorrow filled with hope and endless possibilities.

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.

Canada’s housing landscape is showing signs of a turnaround. After a period of notable declines, we’re seeing steadier inventory, improving sales, and early upticks in prices. Projections for 2026 suggest sales may dip about 4% to 453,000 homes, with average reference prices easing roughly 2% to $794,000. By 2027, forecasts point to a 7% rise in sales (around 484,000 units) and benchmark prices nudging up to $801,000. It’s important to note that this recovery isn’t unfolding evenly—Ontario and British Columbia, in particular, are lagging, and the condo market in Toronto and Vancouver continues to face pressure from increased supply. For those navigating the property lifecycle, this period feels less like a boom and more like a transition from correction toward recovery. That means there may be thoughtful opportunities ahead as the market continues to evolve—especially for those focused on long-term value and resilience, which has been my approach over two decades in Ontario’s construction and development sectors.

In my two decades working across Ontario’s construction and development landscape, I’ve seen the complexities behind condo purchases firsthand. Right now, some buyers are discovering that their pre-construction condo closing costs can exceed the current market value of their units by as much as 30%. This happens when a condo’s value drops below the price agreed upon during pre-sale, leaving purchasers with a significant funding gap. Since lenders base mortgages on present appraised values, buyers often find themselves short when it’s time to close—especially on deals signed years earlier. Extended timelines caused by pre-sales, permitting, contractor negotiations, and labor shortages can leave plenty of room for the market to shift, sometimes catching even seasoned buyers off guard. Notably, during Ontario’s previous seller’s market, developers occasionally canceled contracts as costs soared, sparking provincial intervention and calls for more accountability. The contracts themselves don’t offer much flexibility for buyers, with only a brief 10-day cooling-off period or the option to exit if the occupancy deadline isn’t met. Drawing on my experience guiding families and investors through each stage of the property journey, I know how critical it is to understand these risks before making a commitment in today’s evolving condo market.