An imbalance of supply against demand fueled the decline of the Greater Toronto Area (GTA) condominium market in 2025 , and industry experts expect that the lagging market is set to continue into the new year. According to the latest REMAX Canada 2025 Canadian Condominium Report , continued disinterest in the local condo market and swelling inventory have resulted in a softening of condo prices (finally), welcome news for prospective buyers and a worsening situation for the countless investors who scooped up units during the peak of the condo boom, only to be left with overvalued concrete boxes that nobody seems to be buying anymore. And with a glut of inventory equivalent to nearly two years' worth of average market demand, analysts predict condo owners will have to weather the storm until mid-2026 before demand catches up with supply. The report outlines rapid declines in average condo prices in the last year, with the GTA average declining 5.1 per cent to $691,308, representing an average value loss of $37,042 for condo owners since 2024. REMAX Unit sales also declined significantly in 2025, with 18,139 condo sales across the entire GTA falling 11.9 per cent short of the 20,590 units that changed hands in 2024. The report notes how condominium apartment starts have declined across all markets except for Edmonton and Ottawa, pointing to the GTA as the area with the steepest pullback in new starts. Other factors cited in the decline include economic challenges like a growing affordability gap, labour shortages, and runaway construction costs — a problem hitting markets like Toronto and Vancouver much harder than elsewhere in the country. Persistent financing challenges, elevated construction costs, labour shortages and a widening affordability gap have further eroded achievability in 2025, particularly in Toronto and Vancouver. "With limited buyer interest, the era of micro-apartments may be coming to an end," says Kottick. "Investors have stepped back, leaving builders to reassess and determine what buyers in major cities truly seek in their condominium and rental options before proceeding with new projects." Despite the overall declines in the GTA, a few neighbourhoods in the region managed to outperform their surroundings, including Bathurst Manor/Clanton Park, Etobicoke West Mall/Islington City Centre West/Kingsway South, and Don Mills/Banbury. Overall, most condo owners in the region have still come out on top in the past decade, which saw condominiums increase from a 31.6 per cent market share in 2015 up to 34 per cent in 2025, while the average price of a unit in the GTA has swelled by almost 79 per cent in the last decade. Don Kottick, President of REMAX Canada, noted that "One in every three homes sold in Toronto is a condominium," and stressed that, "despite the pullback in recent years, condominiums remain a vital component of Canada's current and future housing stock." Kottick is banking on a rebound materializing in the new year, stating that REMAX believe "2026 will be a year of transition, as inventory is slowly absorbed, giving way to healthier conditions in 2027, alongside broader economic recovery. Economic stability, after all, is the bellwether of consumer confidence with the latter the essential catalyst that drives recovery." However, another recent industry outlook for the new year reported that GTA condos will hemorrhage almost $43,000 in value in 2026, further cratering resale value for units once considered a surefire investment during the boom days.