Toronto's condo market has been through significant turbulence since 2022. After a sharp correction, prices have stabilized and even begun recovering in some areas. Here's the data-driven analysis for 2026.
Toronto Condo Market Data (2026)
Average condo price: $720K (down 8% from 2022 peak)
Average days on market: 35 days
Months of inventory: 4.2 months (buyer's market territory)
Average rent (1-bedroom): $2,500/month
The Case for Buying Now
Prices are off peak: Buying 8% below the 2022 peak means you're getting value.
Rates are improving: 5-year fixed rates at 4.09% vs. 6%+ in 2023.
Rental demand is strong: Vacancy rates below 2% support rental income for investors.
Immigration continues: 500K+ newcomers annually will drive long-term demand.
The Case for Waiting
Oversupply risk: 80,000+ condo units under construction in the GTA could create temporary oversupply.
Carrying costs: Condo fees, property taxes, and mortgage payments often exceed rental income.
My Recommendation
For end-users (people who will live in the condo), 2026 is a good time to buy — especially in established neighborhoods with strong transit access. For pure investors, be selective and focus on units with strong rental demand.
Thinking about buying a condo? Call Sam at 647-784-7924.