While optimism is constructing in parts of Canada for a reversal in the real estate market, the small signal of improvement for that section is a large space -to -a large space to go into a large space for a large space.
Cities such as Toronto and Vancouver have left the Kondo sales in recent years after opening new supply and reducing the investor demand, if not stable.
For some areas, it marks a deviation from the picture of overall real estate. Many industries are now guessing a change in the housing market in the coming months after the first half of 2025, which suffered from financial uncertainty related to tariffs and job losses.
This leaves those who leave behind Kondo life and upgrade in a house in a difficult place: now sell at less than an expected price, or wait for the storm.
“They are stuck in a way,” Victor Tran said, for a hostage and real estate expert rates.
“They used to expect the bank on the appreciation of Kondo in the coming years so that they could take out the money and use it as a down payment to upgrade to a large house. But the money is not yet.”
Since 2022, the sales of the Kondo apartments have fallen by 75 percent in the Greater Toronto region and 37 percent in the Vancouver region, a report last month by Canada’s hostage and Housing Corp, said that in the meantime, inventions have doubled in inventions and prices have fallen in those areas.
The National Housing Agency said that the condo market is expected to be weak, as “the record level remains and remain in the demand.” It said that there are very few evidence to suggest a decline in value “given the national and global economic outlook”.
“There are some (conditions), a Vancouver-based real estate agent in the Royal Leopage West Real Estate Services,” There are some (conditions), where the sellers have decided to hit the selling button and lose losses on their condos, unfortunately, and just proceed. “
“Condo market lacks liquidity, so it is preventing potential move-up buyers from recovering the money, or by moving buyers from moving forward in the market, potentially, because their condos are not worth what they expect to be worth them.”
A report released by the Toronto Regional Real Estate Board in May revealed that the sales of Kondo apartments in the Greater Toronto region were 21.7 percent lower in the first quarter of this year, compared to the first three months compared to 2024. Meanwhile, the new listing in the quarter was 25.2 percent year-old year for that segment.
The sales of Kondo were 2.5 percent lower on year-on-year basis last month, in line with the trend of overall home sales for the region. However, Kondo market declined by 25.1 percent in May after activity – removing the decline in sales for other housing types.
That month, different house sales have fallen by 10.6 percent, the townhouse was 9.8 percent below and semi-separate houses had 0.3 percent less than May 2024.
Toronto-Area Real Estate Agent Vy NGO described the condo market as “cruel”, even starting to stabilize the activity when talking about other assets.
Sales representative NGO with Big City Realty Ink said, “I have many Kondo listings right now. It is very difficult to sell it.”
“It may have been trending in the rest of the next year, (next year). It is going for a while until it comes back.”
In Greater Vancouver, the Kondo apartments were sold last month, there was a 16.5 percent decrease compared to June 2024. It was a status from a year-to-year which was a decline relative to the sale of individual houses, which was 5.3 percent less than June 2024, while the sold houses were 3.7 percent.
At the moment, Dini said that the market price for a successful condo sale is finally dependent on “who is the most inspired seller in the neighborhood”.
“Some vendors are open -minded and are in a situation where they want to sell and they are committed to sell, and still buyers for those properties,” they said.
“But if you are in a situation where your mindset is stuck at a certain price or is not supporting a certain expectation and market, we are encouraging the vendors to hit the brakes and find an option. So they are living in the house for a long time, renting the property, if they allow them to do so, and then start it again.”
Tran called it a “scary time” for those wishing to upgrade to a large house due to the risks involved in selling their current property, as if there is a possibility that a buyer may take longer than expected to find.
While he said that it is safe to sell first and then there is a proposal on a new property to buy, it also comes with the risk of not finding a property on time.
“A lot of people are thinking, like ‘okay, when we are going to hit below, when we are going to put some recovery and confidence back in the market, what are we starting to start to see things?” Nobody knows, ”Tran said.
“I, personally, don’t think it’s going to happen at any time soon.”
This report of Canadian Press was first published on 10 July 2025.
Sammy Hades, Canadian Press