06/04/2026
TRREB May 2026 data just flipped the script on Toronto condos.
416 condo average: $573,531 905 condo average: $639,468
Downtown Toronto condos are now cheaper than suburban condos. That's not a normal relationship — and it signals something specific about where the supply pressure is concentrated.
The 416 condo market is absorbing a wave of investor-held units coming to resale. Too much supply, not enough end-user demand to clear it at peak prices. The result: the downtown core is repricing faster and harder than the suburbs.
For holders: the exit math has changed materially. For buyers: the entry math is getting more interesting — but only if you're buying for the right reasons with the right hold period.
Watch this spread. If 416 condos keep getting cheaper relative to 905, it tells you the investor exodus from the downtown core is still in progress.