Published 27 September 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
Most often it is the price relative to the competition, not the unit. In August 2026 TRREB recorded 1,330 GTA condo apartment sales against 3,579 new listings and 7,882 active listings, a sales-to-new-listings ratio of about 37 percent and nearly six months of inventory: a buyer’s market. Units sold on average in 41 days at 96 percent of list price. If yours has had showings but no offers, buyers are comparing it with cheaper or better units nearby. If it has had few showings, the price, photos or online presentation are not earning the click. Other common causes are high fees, a special assessment, difficult showing access and a listing that has gone stale.
What the market looks like right now
Start with the numbers, because they set the bar. TRREB’s August 2026 condo apartment figures:
| Area | Sales | New listings | Active listings | Sales / new listings | Avg. days on market |
|---|---|---|---|---|---|
| All TRREB areas | 1,330 | 3,579 | 7,882 | 37% | 41 |
| City of Toronto | 885 | 2,303 | 4,938 | 38% | 39 |
| Mississauga | 109 | 357 | 849 | 31% | 45 |
| Vaughan | 63 | 193 | 431 | 33% | 41 |
| Brampton | 21 | 81 | 202 | 26% | 71 |
A sales-to-new-listings ratio below about 40 percent is generally read as a buyer’s market. Across the whole TRREB area there were nearly six months of active condo inventory at August’s sales pace. New construction adds to the pressure: Urbanation reported a record 4,295 completed but unsold new condos in the GTHA in the first quarter of 2026. Buyers know they have choices.
Reason 1: priced against the wrong evidence
The most common problem. A price set from last spring’s sales, the best sale in the building, an online estimate or what a neighbour says they got will sit above today’s market. Condo averages in TRREB’s 905 region were 7.6 percent lower in August 2026 than a year earlier, and the City of Toronto’s 2.1 percent lower. Re-price from the last three months of sales of your layout, adjusted for floor, view and parking.
Reason 2: the competition is better value
Buyers do not look at your unit in isolation. They tour three or four at a time. If a similar unit two floors up with parking is listed $15,000 below yours, you are the listing that makes theirs look good. Check what is for sale in your building and the next two, every week, and position against it.
Reason 3: the listing is not earning the click
If showings are rare, buyers are passing on the listing before they see the unit. Professional photography in daylight, an accurate floor plan with dimensions, and a first line that states what matters (parking, locker, exposure, what the fee includes) do more than any open house. A listing with dark phone photos and no floor plan is invisible in a market with thousands of alternatives.
Reasons 4 and 5: the monthly cost and the building
High fees reduce what buyers can borrow, because lenders count half the fee in their debt ratios. A special assessment, a thin reserve fund or litigation disclosed in the status certificate will cause buyers to walk after their lawyer reviews it. If offers keep collapsing on conditions, this is often why. Know what the status certificate says before you list, and price and present around it rather than hoping nobody reads it.
Reasons 6 and 7: access and staleness
A unit that is hard to see does not sell. Tenant-occupied units with limited showing windows, or owners who decline short-notice requests, lose buyers to units that can be seen tonight. And once a listing passes about the local average days on market, buyers start asking what is wrong with it, and the offers that do come in are lower. A clean relaunch with new photos and a new price usually beats a string of small reductions. See when to lower your asking price.
How to tell which reason is yours
- Few showings: price and presentation. Fix photos, floor plan and headline, then price.
- Showings but no offers: buyers prefer other units. Compare yours line by line with what they are buying instead.
- Offers that fall apart: the status certificate, financing (fees) or an appraisal gap.
- Low offers only: the market is telling you the price. Weigh the offer against the cost of carrying the unit another month: fees, tax, mortgage interest and your time.
Two tools help here: the AI condo value estimator below gives you a range in about a minute, and the net proceeds calculator turns any price into what actually lands in your account.
Where I fit
When a listing has stalled I start with the showing feedback and the competition, then decide between a price change and a relaunch. Run the estimator below for today’s range, then book a call. If your listing is with another brokerage, wait until it expires before we talk about it.
Free tool — AI condo value estimator
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 is a condo worth in your area?
August 2026 prices by city and district: Etobicoke · North York · Scarborough · Downtown Toronto · Midtown Toronto · Liberty Village / King West · Markham · Richmond Hill · Oakville · Burlington · Milton · Brampton · Pickering / Ajax · Whitby / Oshawa · Mississauga · Vaughan. Or run the AI condo value estimator for a range on your own unit.
Frequently asked questions
How long does it take to sell a condo in Toronto?
In August 2026 City of Toronto condo apartments that sold had been on the market an average of 39 days, and 41 days across the whole TRREB area, according to TRREB’s Market Watch.
Is it a buyer’s market for condos in Toronto?
The August 2026 figures point that way: a sales-to-new-listings ratio of about 38 percent in the City of Toronto and 37 percent across TRREB’s area, with close to six months of active inventory.
Should I lower my price or take my condo off the market?
If showings are low, fix presentation and price. If the listing is stale, a relaunch with new photos and a sharper price often works better than repeated small reductions.
Why do condo offers fall through?
Commonly because the buyer’s lawyer finds a problem in the status certificate, such as a special assessment or a weak reserve fund, or because financing fails once the fees are counted.
Do high condo fees make it harder to sell?
They can. CMHC’s rules count half the condo fee in a buyer’s debt service ratios, so higher fees reduce what buyers can borrow.
Does new construction affect my resale condo?
Yes, it adds competition. Urbanation reported a record 4,295 completed but unsold new condos in the GTHA in Q1 2026, some of them discounted.
Sources
- TRREB — Market Watch, August 2026 — condominium apartment tables by region and municipality
- Urbanation — Standing condo inventory hits record high in Q1 — 4,295 completed, unsold new condos, Q1 2026
- CMHC — Calculating GDS / TDS — 50% of condominium fees counted; 39% / 44% limits
- Condominium Authority of Ontario — Status certificates — 10 days, up to $100, Condominium Act s. 76
Related reading
- When to lower your asking price
- Why your house is not selling
- How to sell your home fast in Toronto
- Do open houses still work in Toronto?
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, Etobicoke. I work with buyers and sellers across Toronto and the GTA, and I have helped more than 100 families sell their condos. Four-plus years of active GTA transactions and over $100 million in sales volume. Every market figure here comes from TRREB’s published tables and every rule from the regulator or the legislation, so you can check all of it without asking me.
Reach me at connect@jatindua.com or 833-330-1925, or book a call.