Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
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2027 looks like a fair year, not a great one, to sell a Toronto condo. Prices fell in most districts in 2026, condo apartments took about 38 days to sell, and builders still hold unsold units. Rents are starting to firm and forecasters expect only small gains, so sell if you have a reason to, and do not count on a quick rebound.
This guide is for Toronto condo owners deciding whether to sell in 2027, wait, or rent the unit out. It pulls together the latest TRREB sales data, rent reports, new-condo supply figures and published forecasts, then sets out who is likely to do well selling in 2027 and who may be better off holding.
Is 2027 a good time to sell a condo in Toronto?
For most owners, 2027 is a reasonable year to sell if you have a real reason to move, and a poor year to sell only because you hope prices will jump. Condo prices have fallen for two years, buyers have plenty of choice, and new-condo builders are still clearing finished units. On the other side, rents in Toronto have started to rise again, and forecasters expect a slow recovery rather than a further slide.
If you are selling one condo to buy another home in the same market, a soft market helps you on the purchase as much as it hurts you on the sale. If you are cashing out, timing matters more.
What is happening to Toronto condo prices and sales?
| Toronto condo apartments | Jan–Oct 2024 | Jan–Oct 2025 | Jan–Oct 2026 |
|---|---|---|---|
| Units sold (all 35 districts) | 10,618 | 9,295 | 9,173 |
| Average days on market | 30 | 36 | 38 |
| Median price, C01 (downtown core and waterfront) | $680,000 | $642,650 | $600,000 |
| Median price, C08 (downtown east) | $657,750 | $610,000 | $565,000 |
| Median price, C15 (Bayview Village, Don Valley Village) | $640,000 | $565,000 | $526,750 |
| Median price, W08 (central Etobicoke, incl. Islington-City Centre West) | $603,500 | $575,000 | $525,000 |
| Median price, E09 (Bendale, Woburn, Morningside) | $550,000 | $510,000 | $450,000 |
Source: TRREB MLS data via REALM, January to October of each year. Days on market are my sales-weighted average across all City of Toronto districts. Medians are district-level, not neighbourhood or building figures.
The October 2026 snapshot tells the same story. TRREB reported 949 condo apartment sales in the City of Toronto that month, at a median of $545,000 and about 97% of list price, with homes taking 36 days on average. Across the GTA, condo apartment sales were down 10.4% from October 2025 and the average price was down 5.8%. For a full district list, see are condo prices going down in Toronto.
Why are Toronto condos slow to sell going into 2027?
- Lots of listings. At the end of October 2026 there were 5,251 condo apartments listed in the City of Toronto, against 949 sales that month. At that pace it would take about five and a half months to sell them all (my calculation from TRREB figures).
- Builders are selling finished units. Urbanation reported that sales in completed buildings hit a record 648 units in the third quarter of 2026, and investment groups bought 339 new units in bulk deals, according to CP24. Those finished units compete with resale condos for the same buyers.
- Investors have stepped back. Only 60 pre-construction condos sold in the GTA and Hamilton in that quarter, per the same report. Fewer small investors means fewer buyers for resale units too.
- Borrowing costs rose. The Bank of Canada raised its policy rate to 2.50% on 28 October 2026, and prime moved to 4.70%.
Are Toronto condo rents rising again, and why does that matter for sellers?
Rents matter because investors price a condo on what it can rent for. For most of 2025 and 2026, Toronto condo rents fell. TRREB’s rental report for the second quarter of 2026 showed the average one-bedroom condo rent at $2,273, down 2.3% from a year earlier, and the average two-bedroom at $3,013, down 1.7%.
The latest data points the other way. The Rentals.ca and Urbanation report for October 2026 put Toronto’s average asking rent for apartments and condos at $2,590, up 1.6% from a year earlier and the first annual increase after 32 months of declines. Two-bedroom asking rents in Toronto were up 2.8% to $2,971. One month is not a trend, but if rents keep rising in 2027, investor demand for resale condos should improve.
Condo Valuation
What’s your condo
worth today?
Three quick steps. Condos don’t price like houses — your floor, your view, and whether you own parking move the number more than anything else. This weighs all of them.
Reading recent condo sales…
Estimated market value
—
$0–$0
Most likely $0 · about $0 per square foot
What moved the number
Starting from what comparable units in your area sell for, here’s what your specifics added or subtracted.
Market context
—
—
Two units, same floor plan,
$90,000 apart.
That happens constantly in condos — one has the parking, the right exposure, or a board that keeps the reserve fund healthy. A model can’t see your status certificate. I can.
What do forecasters expect for Toronto condos in 2027?
- CREA (October 2026) expects national home sales to rise 4.4% in 2027 and the national average price to rise 1.2%. It expects Ontario’s average price to fall about 3% in 2026.
- CMHC (summer 2026 outlook) expects housing conditions to improve gradually in 2027 and 2028. It also expected rental markets to keep easing in 2026, especially in Toronto, partly because of the large number of condos rented out by their owners.
- The Bank of Canada (October 2026) expects housing to remain relatively weak and inflation to average about 3% in 2027, and said a further rate increase could be needed.
- Urbanation says that with pre-construction sales dormant and construction starts at historic lows, the supply pipeline is drying up, which it believes sets up a significant shortage by the end of the decade.
None of these is specific to your building, and two were published before the October rate hike.
My view, and it is only my view: I do not expect a sharp rebound in Toronto condo prices in 2027, and I also do not think waiting a few more months will change much for most owners. The stronger long-term case is about supply, since far fewer condos are being started now, but that plays out over years, not a single spring. If you need to sell in 2027, price to current sales and focus on standing out in your building.
Which Toronto condo areas held their value best in 2026?
A few districts bucked the trend. From January to October 2026, condo apartment medians rose from 2025 in E02 (The Beaches area, up 4.8%), W03 (up 4.7%), W09 (up 2.9%) and C12 (up 2.6%), and slipped only slightly in E06 (down 0.3%), W06 (down 2.7%) and C10 (down 3.9%), according to TRREB MLS data via REALM. At the other end, medians fell 22% in C09 and W10 and about 15% to 17% in C03, C04, E04 and E08.
Be careful with these. Several of the stronger districts had fewer than 70 condo sales in ten months, so a handful of larger or newer units can move the median. Your own building’s recent sales are a far better guide than any district figure.
Who should sell a Toronto condo in 2027?
- Owners moving up. If you are buying a house or larger home, the lower prices on your purchase can offset a softer sale.
- Owners whose costs are rising. If your mortgage renews at a higher rate or your fees jumped, holding may cost more than any price gain.
- Owners of units with few standout features. In my experience, if your building has many similar units listed, waiting rarely helps.
- Owners in buildings facing big repairs. A reserve fund shortfall or special assessment tends to get harder to sell around, not easier.
Who might be better off waiting or renting the condo out?
- Owners with no reason to move and costs they can carry comfortably.
- Owners who bought near the 2022 peak and would sell at a loss they do not need to take.
- Owners of units that rent well, where the rent covers most of the carrying cost.
If renting is an option, compare the numbers carefully. My guide on whether to sell or rent out your Toronto condo walks through the costs, and remember that Ontario’s rent rules apply once you have a tenant.
What does it cost to hold an empty condo while you wait?
Holding a vacant unit is not free. You still pay condo fees, property tax, insurance, utilities and any mortgage interest. In Toronto there is one more cost.
Toronto’s Vacant Home Tax applies to a residential property that was vacant for six months or more in a year, unless an exemption applies. Since 2024 the rate is 3% of the property’s assessed value. Every owner must declare each year; the 2026 declaration is due April 30, 2027, and a property is treated as vacant if no declaration is filed. There is an exemption for the year in which ownership fully transfers to a buyer, and the seller is still responsible for declaring a year in which they owned the unit. Check the City’s rules before leaving a condo empty for a long listing period.
How do you sell a Toronto condo well in 2027?
- Price against your building first. Buyers compare your unit with every similar one listed and sold in the same building in recent months.
- Order the status certificate early so buyers can review fees, reserves and any lawsuits quickly.
- Present it well. In a market where condo apartments sold at about 97% of list in October 2026, a clean, bright, well-photographed unit is what earns the full number.
- Be clear about tenancy. A vacant unit appeals to end users; a tenanted one needs an investor buyer or proper notice under Ontario’s rules.
- Plan for time. My guide on how long it takes to sell a Toronto condo has the full timeline.
If you are still on the fence, my earlier piece on selling now or waiting has a decision checklist you can work through.
What to do next
- Look up recent sold prices in your own building and district, not the city average.
- Write down your real reason to sell and your monthly cost to hold, including fees, tax and mortgage.
- If you might rent instead, get a realistic rent figure from current listings for units like yours.
- If the unit will sit empty, check whether the Vacant Home Tax could apply and file your declaration on time.
- Get a current value for your unit before you decide on timing.
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
Is it a good idea to sell my Toronto condo in 2027?
2027 is a fair, not strong, year to sell a Toronto condo. Condo apartment medians fell in most Toronto districts from January to October 2026, units took about 38 days to sell, and listings remain high (TRREB MLS data via REALM). Sell if you have a reason to move or your costs are rising; waiting only for a quick rebound is a gamble.
Will Toronto condo prices go up in 2027?
No reliable forecast promises a rise in Toronto condo prices in 2027. CREA’s October 2026 forecast expects national average prices to rise only 1.2% in 2027, and the Bank of Canada expects housing to stay relatively weak. Rents in Toronto turned up in October 2026, which could help investor demand if it continues.
Should I sell my condo now or wait until 2027?
It depends on your reason and your carrying costs. If you are moving up, your mortgage is renewing higher or your building faces big repairs, selling in early 2027 is usually sensible. If you can carry the unit comfortably and have no reason to move, waiting costs little, but in Toronto an empty unit may trigger the 3% Vacant Home Tax.
How long does it take to sell a condo in Toronto in 2026?
Toronto condo apartments that sold from January to October 2026 spent about 38 days on the market on average, up from about 30 days in 2024 (TRREB MLS data via REALM). In October 2026, City of Toronto condo apartments sold in an average of 36 days at about 97% of list price, according to TRREB.
Why are Toronto condos not selling in 2026?
Toronto condos are slow mainly because supply is high and buyers are cautious. In October 2026, 5,251 condo apartments were listed in the City of Toronto against 949 sales that month (TRREB). Builders are also selling finished new units, some in discounted bulk deals, and higher borrowing costs after the October 2026 rate hike have kept many buyers waiting.
Are condo rents going up in Toronto?
Yes, for the first time in almost three years. The Rentals.ca and Urbanation report for October 2026 put Toronto’s average asking rent for apartments and condos at $2,590, up 1.6% from a year earlier and the first annual increase after 32 months of declines. Earlier in 2026, TRREB reported average condo rents still below 2025 levels.
Do I have to pay Toronto’s Vacant Home Tax if my condo is empty while it is for sale?
You may. Toronto’s Vacant Home Tax is 3% of assessed value for a residential property left vacant six months or more in a year, unless an exemption applies. One exemption covers the year in which ownership fully transfers to a buyer. Owners must declare occupancy every year; the 2026 declaration is due April 30, 2027.
How many condos are for sale in Toronto right now?
At the end of October 2026, TRREB counted 5,251 active condo apartment listings in the City of Toronto and 8,100 across the GTA. In October, 949 Toronto condo apartments sold, so the city had about five and a half months of listings at that month’s sales pace, which favours buyers.
What price are Toronto condos selling for compared with asking in 2026?
Toronto condo apartments sold for about 97% of their list price on average in October 2026, according to TRREB, so buyers typically negotiated about 3% off. The City of Toronto median condo apartment price that month was $545,000. Units priced in line with recent sales in their own building tend to sell closest to asking.
Sources
- TRREB Market Watch, October 2026
- TRREB Rental Market Report, Q2 2026
- Rentals.ca: Toronto and Vancouver rents post first annual increases in more than two and a half years (October 2026 report)
- CP24: Bulk purchases by developers now account for nearly half of new condo sales (Urbanation Q3 2026)
- CREA quarterly forecasts (October 2026)
- CMHC: Summer update 2026 Housing Market Outlook
- Bank of Canada increases policy rate to 2.5% (28 Oct 2026)
- City of Toronto: Vacant Home Tax
Related reading
- Seller Closing Costs in Ontario for 2027: Every Fee Before You Get Paid
- How to Sell a House in Toronto, Step by Step (2027)
- Closing Costs on a New Build in Ontario: What Builders Add
- How Much Is My House Worth in Caledon? (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.