GTHA Condos: What Gives?!

Condo sales across the Greater Toronto and Hamilton Area have hit their lowest point in 30 years, with just 533 new units sold in the first quarter of 2025. At first glance, that might sound like bad news, but for current condo owners, this could actually be the start of something very exciting.

Right now, many developers are hitting pause. High interest rates, rising construction costs, and an oversupply of tiny, cookie-cutter units have led to a sharp drop in new project launches, almost 80 percent lower than the same time last year. But this slowdown is not a sign of a market in trouble. It is the kind of reset that clears the way for smarter growth.

And here’s where it gets good. With fewer new condos coming to market, existing units will likely see a rise in demand. Well-maintained, well-located condos with functional layouts will become even more desirable. Owners can expect stronger demand, higher resale values, and increased rental income potential in the near future.

Even better, the slowdown will encourage developers to step back and rethink what buyers actually want. The next wave of construction will likely focus on higher quality, more thoughtfully designed homes that truly meet the needs of today’s urban homeowners. That will be a big win for everyone, from buyers to long-term investors to the communities we live in.

Yes, things are quieter than usual right now. But it’s not a downturn, it’s a turning point, and it’s the perfect moment to make your move. With fewer new units available and a shift toward more desirable properties, now is the time to purchase before demand and prices climb. For those looking to invest, or anyone thinking of buying, this is the ideal window to secure a great property before the market rebounds.