Condo sales plummet in Toronto and Vancouver but more resilient elsewhere

The condo market in Canada’s major cities has seen significant declines, with Toronto sales down 75% and Vancouver’s down 37% from 2022 to Q1 2025, driven by rising interest rates affecting affordability and investor returns. In Toronto, inventory has surged, leading to a 21.7% drop in sales year-over-year and a 2.2% decrease in average prices, with over 80% of investors losing money monthly due to high costs and rent controls.

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