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Townhomes Hot, Condos Not
GTA sales plunge to a 23-year low, banks get tougher on borrowers, and Edmonton’s market keeps heating up. Plus, the hidden cost of breaking your mortgage.
Today, we’re covering
😵GTA Sales Crash to 23-Year Low
🏘️ Townhome Sales Rise Amidst Condo Decline
🔥 Edmonton Market Keeps Climbing
🥵 Banks Clamp Down on High-Risk Borrowers
🤔 The Hidden Cost of Cheap Rates
🤔 WTF of The Week
Read Time: 4 minutes
😵GTA Sales Crash to 23-Year Low
March 2025 saw only 5,011 home sales in the GTA, the slowest March over 23 years.
Sales dropped 23% year-over-year, while listings jumped 29% to over 17,000
The sales-to-new-listings ratio hit 29%, signalling a clear buyers’ market
All home types saw price declines: detached (-1.8%), semi-detached (-0.9%), townhomes (-3.5%), condos (-2.6%)
Tariff fears and federal election uncertainty are keeping buyers on the sidelines
Why This Matters: Slower absorption and higher listings mean more leverage for buyers and less pricing power for sellers. Tariff uncertainty adds new risk layers to investment timelines and construction costs. Buy-and-hold investors may find better entry points with softening prices and growing inventory.
🏘️ Townhome Sales Rise While Condos Decline
Townhome sales rose 5.8% year-over-year, making them the most in-demand property type for 2025.
New mortgage rules allowing less than 20% down on homes up to $1.5M are boosting the demand for semi-detached homes.
New listings across all home types increased by 20.2% year-over-year, providing buyers more options.
One-bedroom condos are the hardest to sell, while two-bed, two-bath units are moving faster.
Why This Matters: The BoC’s recent 0.25% rate cut hasn’t moved the market, and another cut likely won’t change much. Demand is most substantial for townhomes and move-in-ready semis under $1.5M. Meanwhile, investors holding small condos are facing fewer buyers and falling prices.