US Edition‘Cause for Concern’: New Condo Sales in the GTHA Plummet to the Lowest Seen Since 1991
- Sales of newly completed condominiums in the Greater Toronto Hamilton Area fell to the lowest level since 1991, with a total of 1,599 units sold in 2025, down 60 percent from the previous year.
- Condo construction starts sank to a multi-decade low of 3,272 units, representing a 63 percent decrease year-over-year, as reported by Urbanation.
- Average selling prices for new condo launches dropped to a five-year low of $1,123 per square foot, falling eight percent from 2024.
26 Articles
26 Articles
‘Cause for concern’: New condo sales in the GTHA plummet to the lowest seen since 1991
More and more homebuyers are steering away from new condos in the Greater Toronto and Hamilton Area, as new data reveals sales for that market declined to the lowest seen in more than 30 years.
Winnipeg Free Press
New condo sales in Greater Toronto Hamilton Area plunge to lowest level since 1991
Breaking News, Sports, Manitoba, Canada
The new condominium market in the Toronto and Hamilton Area (GTHA) is experiencing an unprecedented downturn. Latest data shows that new condominium sales in the region are projected to fall to their lowest level since 1991 by 2025, a 60% drop from the previous year and a staggering 95% decrease from the 2021 peak.
“No New Condo Completions” In GTHA By Decade’s End: Urbanation
New condominium apartment sales in the Greater Toronto Hamilton Area (GTHA) fell for the fourth consecutive year, Urbanation’s year-end 2025 Condominium Market Survey shows, plunging 60% from 2024 to just 1,599 units, marking the lowest annual total since 1991. Urbanation President Shaun Hildebrand warns that by the end of the decade, the region won't be seeing any new condo completions at all. In 2025, sales came in 91% below the 10-year averag…
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