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Toronto condo sales plummet, CMHC says | Financial Post The result is that Increasing inventory and falling sales have also lowered resale prices in Toronto by 13 4 per cent and 2 7 per cent in Vancouver Article content “In the two years before 2022, these prices had risen by more than 19 per cent in both CMAs (census metropolitan areas),” the CMHC said
Condominium apartment market risks in Toronto and Vancouver Following years of growth, condominium apartment sales (resale, new and pre-construction units) in Toronto and Vancouver, the 2 largest condominium apartment markets, began to decline in mid-2022 By the end of the first quarter of 2025, they had fallen 75% in Toronto and 37% in Vancouver
CMHC warns of rising condo market risks as sales collapse and investor . . . Condo resale prices have slipped 13 4% in Toronto and 2 7% in Vancouver since 2022, erasing some of the double-digit gains seen during the pandemic housing boom For investors who bought pre-construction units expecting continued growth, this has translated into potential capital losses of up to 6% on 2024 purchases in Toronto, the agency noted
Weak condo markets in Toronto and Vancouver threaten future housing . . . Between 2022 and the first quarter of 2025, total condo sales fell 75 per cent in Toronto and 37 per cent in Vancouver, the CMHC analysis says, while inventories in the two markets rocketed upwards “In Toronto, where the market weakness is the most pronounced, the months of inventory for pre-construction condominiums in Q1 of 2025 were more than 14 times higher than they were in 2022
Weak condo demand in Vancouver and Toronto dragging down Canadas . . . In fact, the struggling condominium markets in Vancouver and Toronto are considered one of the main drivers of the overall cooling of Canada’s housing market Condominium prices fell by seven per cent year-over-year in May 2025, representing a tie for the largest year-over-year decline in condominium values in 20 years, since the index was established in 2005
The condo market is slowing down. Where are all the buyers? The downturn is concentrated in Toronto and across southern Ontario, and to a lesser extent Vancouver, he explained Other markets, like Edmonton and Montreal, are holding up better for now