Ontario Micro-Condos Face Steep Depreciation

GTA avg. home selling price was $993K in Mid-Q3 2026, down ~3% yearly, showing the broader market continued easing overall for buyers.
GTA condo apartments averaged $618K in Mid-Q3 2026, below the prior year's level, while the smallest units posted the market's sharpest depreciation.
Micro condos, under 500 sq-ft, were toughest to move in the GTA, with limited end-user appeal and buyers gaining access to larger options.
In Early-Q3, condos sold below list in ~98% of GTA neighbourhoods with at least five sales, giving active buyers unusually broad negotiating room.
Single-family homes also saw underbidding across ~92% of GTA neighbourhoods, but condos were more sensitive as investor demand faded and more investor-friendly units lingered.