09/11/2026
August Real Estate Market Update: Price Drops, Off-Market Condo Reality & Buyer Opportunities
In this monthโs update, we explore why official stats donโt tell the whole story for condos, as off-MLS developer sales and heavy incentives mask the true number of properties failing to sell.
We also discuss why anticipated market momentum stalled in August, breaking down the 2% overall price drop and a 4.6% year-over-year sales decline that left activity 20.7% below the 10-year seasonal average.
With inventory 26.2% above normal and only 12 out of 100 homes selling, buyers have essentially โwon the lotteryโ with incredible deal potential, while sellers must move away from 2023 pricing expectations and focus on strategic positioning and tiptop home presentation.