Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
My top five GTA cities for downsizers in 2027 are Oakville, Burlington, Mississauga, Markham and Whitby. Oakville has the biggest equity gap, about $1.1 million between its median detached price ($1,625,000) and median condo apartment ($528,000) in 2026. Burlington’s detached prices held flat, Mississauga has the most condos, and Whitby is the most affordable landing spot.
This guide is for GTA homeowners, often empty nesters and retirees, who want to sell a family house and move into something smaller in 2027. You will see the five GTA cities where downsizing makes the most sense, how much money you could free up in each, and the costs people forget.
What makes a GTA city good for downsizing?
A good downsizing city lets you sell your house for a strong price and buy a smaller home for much less, without giving up the things you need day to day. I ranked cities on four things:
- The equity gap: the difference between the median detached price and the median condo price. A bigger gap means more cash left over.
- Choice: enough condo apartments and condo townhouses selling that you can be picky about the building, floor plan and fees.
- How detached prices held up: if you are selling a house, a city where house prices fell less is better for you.
- A full hospital in town: for many of my older clients, being close to an emergency department matters more than a commute.
My top five are Oakville, Burlington, Mississauga, Markham and Whitby. They cover Halton, Peel, York and Durham, so there is an option on each side of Toronto.
How much money can you free up by downsizing in the GTA?
In most of the GTA, selling a typical detached house and buying a typical condo apartment in the same city frees up between $440,000 and $1.1 million before costs.
| City | Median detached 2026 | Median condo apartment 2026 | Median condo townhouse 2026 | Gap: detached minus condo apartment |
|---|---|---|---|---|
| Oakville | $1,625,000 | $528,000 | $712,500 | $1,097,000 |
| Richmond Hill | $1,485,000 | $529,250 | $690,000 | $955,750 |
| Vaughan | $1,415,000 | $530,000 | $768,000 | $885,000 |
| Markham | $1,420,000 | $558,000 | $750,000 | $862,000 |
| Mississauga | $1,225,000 | $485,000 | $689,300 | $740,000 |
| Burlington | $1,249,750 | $529,950 | $691,000 | $719,800 |
| Brampton | $950,000 | $415,000 | $570,000 | $535,000 |
| Whitby | $977,000 | $536,000 | $617,500 | $441,000 |
Source: TRREB MLS data via REALM, January–October 2026. City-wide medians. The gap is my own calculation, before selling costs, land transfer tax and moving costs.
One trend helps downsizers right now. In most of these cities, condo apartment prices fell faster in 2026 than detached prices did. In Markham, for example, the median detached price fell 6.5% while the median condo apartment fell 13.2%. So the home you buy has come down more, in percentage terms, than the home you sell.
1. Oakville: the biggest equity gap
Why it works: Oakville has the largest gap in the GTA. The median detached home sold for $1,625,000 in 2026, down only 3.0%, while the median condo apartment was $528,000. That leaves about $1.1 million on paper.
Who it suits: long-time Oakville owners who want to stay in town, and owners from more expensive areas who want a quieter lakeside town.
Choice: 335 condo apartments and 168 condo townhouses sold from January to October 2026. Condo townhouses held their value well, down just 4.3%, so expect to pay close to asking for a good one.
Health care: Halton Healthcare runs a hospital in Oakville with an emergency department open 24/7.
What to check: condo apartments took 45 days to sell on average, so you have time to compare buildings. My Oakville home value guide shows what your house might sell for.
2. Burlington: detached prices held, plenty of condo choice
Why it works: Burlington was the only large GTA city where the median detached price did not fall in 2026. It stayed at about $1,249,750, almost the same as 2025. Meanwhile the median condo apartment slipped 4.9% to $529,950. That is a good combination for a seller who is also a buyer.
Who it suits: downsizers who want a lakefront city with a slower pace, whether they already live in Halton or are moving from Mississauga or Toronto.
Choice: 364 condo apartments and 372 condo townhouses sold, the second-largest condo townhouse market of my five picks. Condo apartments took 52 days to sell on average, the longest of the five, which gives buyers room to negotiate.
Health care: Joseph Brant Hospital is Burlington’s community hospital, with an emergency department, an intensive care unit and surgical services.
What to check: buildings vary a lot in age, fees and reserve funds. Compare at least three buildings before you choose.
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3. Mississauga: the most condos to choose from
Why it works: Mississauga has the biggest condo market outside Toronto. 1,213 condo apartments and 777 condo townhouses sold from January to October 2026, and 813 condo apartments were for sale at the end of October.
Who it suits: downsizers who want lots of choice, from smaller buildings to large towers, and who want to stay close to family across Peel and west Toronto.
The numbers: the median detached home sold for $1,225,000, down 5.8%. The median condo apartment was $485,000, down 9.3%, and the median condo townhouse was $689,300, down 8.1%. The equity gap is about $740,000.
Health care: Trillium Health Partners runs Credit Valley Hospital and the Mississauga Hospital.
What to check: with so much supply, condo apartments had about 6.7 months of supply in my calculation from the REALM data. Do not rush. Watch a building for a few weeks to learn what units really sell for.
4. Markham: condo prices down the most
Why it works: Markham’s condo apartments had the steepest drop of my five picks. The median fell 13.2% to $558,000 in 2026. The median detached price fell 6.5% to $1,420,000, leaving a gap of about $862,000.
Who it suits: York Region owners who want to stay near family, and buyers who want a newer condo at a lower price than a year ago.
Choice: 582 condo apartments and 214 condo townhouses sold. Condo apartments took 39 days to sell on average.
Health care: Oak Valley Health runs Markham Stouffville Hospital on Church Street in Markham.
What to check: if you are selling a Markham house, remember that detached prices are down from $1,650,000 in 2024. Price your home off the most recent sales, not what a neighbour got two years ago. My Markham home value guide can help.
5. Whitby: smaller-town feel at a lower price
Why it works: Whitby is the most affordable of my five picks. The median detached home sold for $977,000 and the median condo apartment for $536,000. The gap is smaller, about $441,000, but Whitby is a strong landing spot if you are selling in a more expensive city.
Who it suits: downsizers moving east from Toronto, York Region or Pickering who want to free up more cash. For example, selling at Markham’s detached median and buying at Whitby’s condo apartment median would leave about $884,000 before costs.
Choice: this is the trade-off. Only 90 condo apartments and 60 condo townhouses sold, and there were just 46 condo apartments for sale at the end of October. Detached homes sold quickly, in 23 days on average.
Health care: Lakeridge Health lists Whitby Hospital among its five hospitals, along with Oshawa Hospital next door.
What to check: with so few condos for sale, start your search early and be ready to act.
What costs do downsizers forget?
The equity gap is not the cash you walk away with. Plan for these:
- Selling costs: commission, legal fees, mortgage discharge and moving. My guide to seller closing costs in Ontario lists them.
- Land transfer tax on the condo you buy: Ontario’s tax on a $530,000 condo is $7,075. Outside Toronto there is no municipal land transfer tax, but inside Toronto you pay both.
- Condo fees: a monthly cost you did not have in your house. Fees and what they cover vary a lot between buildings.
- The status certificate: this document from the condo corporation shows the building’s finances and rules. Under Ontario rules, the corporation must provide it within 10 days for a fee of up to $100, including taxes. Have your lawyer review it before you firm up. My guide to what to look for in a status certificate explains the red flags.
- Tax reporting: even if your gain is fully tax-free, you must report the sale of your principal residence on Schedule 3 and Form T2091 of your tax return. The Canada Revenue Agency can charge a penalty of up to $8,000 for a late designation. See my post on capital gains when downsizing.
Do not compare condo prices without comparing condo fees and reserve funds. A $500,000 unit with high fees can cost more each month than a $550,000 unit with low fees. Ask for the last two years of fee increases, any special assessments, and the reserve fund study summary. A low price in a building with a weak reserve fund can turn into a large bill later.
Should you sell first or buy first when downsizing?
For most downsizers in 2027, I suggest selling first, or at least signing a firm sale before you firm up a purchase. Detached prices fell in most GTA cities in 2026, and there is no promise they will rise in 2027. If you buy first, you carry two homes and may feel pressure to cut your price later.
Buying first can make sense if you have enough cash or a bridge loan, and you have found a unit you love in a building with very few listings, such as in Whitby. Talk to your lender about bridge financing before you decide.
Rates matter too, even if you will not need a mortgage. The Bank of Canada raised its policy rate to 2.50% on 28 October 2026, and the buyers for your house will need to qualify at higher payments. That can slow the sale of larger homes.
My view, and it is only a view: the best downsizing moves I see are planned six to twelve months ahead. Pick the city and two or three buildings first, then prepare and price your house to sell in its first few weeks. In 2026 the condo side of the market moved in buyers’ favour faster than the house side, so downsizers selling in Burlington or Oakville are in a good spot. If you need the most cash, look at moving from a higher-priced city to Whitby or Mississauga. And always read the status certificate before you fall in love with a view.
What to do next
- Use the home estimator on this page to see what your current house might sell for.
- Choose one or two target cities and shortlist three condo buildings in each.
- Ask your accountant about principal residence reporting and any other tax issues before you list.
- Get a written estimate of all your selling and buying costs, so you know your real cash left over.
- Book a call with me to plan the timing of your sale and purchase.
Need help with this? Talk to me.
I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].
Frequently asked questions
Where is the best place to downsize in the GTA?
Oakville, Burlington, Mississauga, Markham and Whitby are my top five GTA cities for downsizing in 2027. Oakville has the biggest gap between detached and condo prices, at about $1.1 million in 2026. Burlington’s detached prices held flat. Mississauga has the most condo choice, and Whitby is the most affordable landing spot.
How much money can I free up by downsizing in Oakville?
On paper, about $1.1 million. From January to October 2026, the median detached home in Oakville sold for $1,625,000 and the median condo apartment for $528,000, based on TRREB MLS data via REALM. Your real cash will be lower after commission, legal fees, land transfer tax on the condo and moving costs.
Do I pay capital gains tax when I downsize in Ontario?
Usually not on your principal residence, if it was your home for every year you owned it. But you must still report the sale on Schedule 3 and Form T2091 of your tax return. The Canada Revenue Agency can charge a penalty for a late designation of up to $8,000. Ask an accountant about your situation.
Is it better to buy a condo or a townhouse when downsizing?
It depends on stairs, space and fees. Condo apartments are cheaper in most GTA cities. In Burlington, the 2026 median was $529,950 for a condo apartment and $691,000 for a condo townhouse. Townhouses give you more space and a ground-level entrance, but many have stairs, which matters if mobility is a concern.
Should I sell my house first or buy a condo first?
For most GTA downsizers in 2027, selling first is safer. Detached prices fell in most GTA cities in 2026, and carrying two homes while you wait for a sale can force a price cut. Buying first can work if you have enough cash or a bridge loan, or if the unit you want is in a building with very few listings.
What is a condo status certificate in Ontario?
A status certificate is a document from the condo corporation with key information about the unit and the building. In Ontario, the corporation must provide it within 10 days of a request, for a fee of up to $100 including taxes. Your lawyer should review it before your offer becomes firm, especially the reserve fund and any special assessments.
Are condo prices dropping in the GTA in 2026?
Yes. From January to October 2026, median condo apartment prices fell in all of the major GTA cities, based on TRREB MLS data via REALM. Markham fell 13.2%, Brampton 12.6%, Vaughan 10.9%, Mississauga 9.3%, Whitby 6.2%, Oakville 6.0% and Burlington 4.9%. That helps people buying a condo after selling a house.
Is Whitby a good place to downsize?
Whitby can be a good place to downsize if you are selling in a more expensive city. Its median condo apartment sold for $536,000 from January to October 2026. Lakeridge Health lists Whitby Hospital among its hospitals. The catch is choice: only 46 condo apartments were for sale at the end of October 2026.
Do seniors pay land transfer tax when they buy a condo in Ontario?
Yes. Ontario land transfer tax applies to most home purchases regardless of age. On a $530,000 condo the tax is $7,075. If the condo is inside the City of Toronto, you also pay Toronto’s municipal land transfer tax, which roughly doubles the bill. Budget for it along with legal fees when you plan your move.
Sources
- Canada Revenue Agency: Reporting the sale of your principal residence
- Condominium Authority of Ontario: What is a status certificate?
- Ontario: Calculating land transfer tax
- Joseph Brant Hospital, Burlington
- Halton Healthcare
- Oak Valley Health (Markham Stouffville Hospital)
- Trillium Health Partners
- Lakeridge Health
Related reading
- Top 5 Best Neighbourhoods to Live in Mississauga in 2027
- Top 5 Best Neighbourhoods to Live in Brampton in 2027
- Top 5 Best Neighbourhoods to Live in Markham in 2027
- Top 5 Best Neighbourhoods to Live in Oakville in 2027
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Toronto. I work with buyers and sellers across Toronto and the GTA and have helped more than 100 families sell. Four-plus years of active GTA transactions and over $100 million in sales volume.
Reach me at [email protected] or 833-330-1925, or book a call.