Ontario Micro-Condos Face Steep Depreciation | Experience matters. Results follow

As someone who’s helped families navigate the Toronto real estate market for over two decades, I’ve seen how shifting trends impact every type of property — and this year, micro-condos in the GTA are facing a unique challenge. In mid-Q3 2026, the average home in the GTA sold for $993,000, down about 3% from last year. Condo apartments averaged $618,000, also lower than the previous year, but it’s the smallest units — micro-condos under 500 sq-ft — that have seen the sharpest drop. These units are proving the hardest to sell, as buyers now have more options to move up in size, and limited end-user appeal is showing. Early Q3 data shows that condos sold below list price in around 98% of GTA neighbourhoods with at least five sales, which means buyers have more negotiating power than usual. While single-family homes also saw underbidding in approximately 92% of GTA neighbourhoods, condos have become especially sensitive to the slowdown as investor demand has faded and investor-targeted units linger longer on the market. Whether you’re weighing your options as a buyer or seller, understanding these trends is key to making confident, informed decisions — and that’s always my focus: providing clear, knowledgeable guidance tailored to your real estate goals.