The GTA real estate market continues to evolve, and as someone who focuses on helping clients make informed decisions, I want to highlight a key trend: micro-condos—those under 500 sq-ft—are seeing the steepest depreciation right now. In Mid-Q3 2026, the average selling price for a home in the GTA was $993K, down about 3% year-over-year, reflecting a broader shift in favor of buyers. Condos averaged $618K, also below last year’s numbers, but it’s the smallest units that have seen the most significant price drops.
Micro-condos in particular have become much tougher to sell, with buyers gravitating toward larger spaces that now fall within reach. In Early-Q3, nearly 98% of GTA condo sales (in neighborhoods with at least five sales) closed below the list price, giving active buyers more room to negotiate than usual. This trend extended to single-family homes as well, with underbidding seen in around 92% of neighborhoods, though condos were hit harder as investor demand cooled and more investor-oriented units remained on the market.
If you’re considering a move—whether buying, selling, or investing—it’s important to understand how these shifts could impact your strategy. My goal is always to keep real estate simple, transparent, and stress-free, so you can navigate these changes with clarity and confidence.
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