- Urban 411
- Posts
- Condos Down, Cottages Up?
Condos Down, Cottages Up?
Toronto’s housing market keeps cooling, half of Ontario’s cottage regions are slipping, and TRREB’s power shift has realtors raising eyebrows.
Today, we’re covering
✂️ Toronto Home Prices Getting Slashed
🌲 Cottages Are Back (Kind Of)
📉 Are Toronto’s Amenity Rules a Problem?
🧑🏼🎓 Why TRREB’s New Rules Have Realtors Worried
🤔 WTF of The Week: Canada’s Declining Population
Read Time: 4 minutes
✂️ Toronto Home Prices Getting Slashed
In April 2025, 66% of Toronto homes sold below asking price, the highest rate since 2013.
Average sale prices were 2% lower than the listing price, indicating increased buyer negotiation power.
Benchmark home prices dropped 5.4% year-over-year to $1.01 million.
Home sales reached a 30-year low (excluding the pandemic), while new listings increased, leading to higher inventory.
Why This Matters: Buyers now have more room to negotiate prices, potentially leading to better deals. Lower prices and higher inventory may present favorable conditions for entering the market or expanding portfolios.
🌲 Cottages Are Back (Kind Of)
In Ontario, half of cottage markets, such as Simcoe County and Muskoka, saw price gains due to tight supply.
The other half saw year-over-year price drops (up to 20%) due to rising inventory.
B.C.’s cottage market is expected to rise 1.1% in price this year amid balanced conditions.
Canadians are pulling back from buying U.S. vacation homes, potentially shifting demand to domestic markets.
57% of buyers cite affordability as a critical factor in deciding on a recreational purchase.
Why This Matters: Demand remains in high-end recreational areas; Muskoka and Whistler are more resilient. Softness in mid-range cottage markets could open up entry points for investors looking to buy low. Rental potential in domestic vacation zones may rise as more Canadians opt for local getaways.