Explained: Toronto’s condo market hits a 30-year low — why it matters now

Toronto’s condo market has collapsed to 1990s levels, with just 28 units sold in the city and 155 across the GTA in September 2025. Sky-high interest rates, construction costs, and development fees have frozen pre-construction sales, threatening future supply. Without urgent government intervention, the city faces stalled projects, layoffs, and a looming housing shortage, despite prices remaining largely unchanged.