All consumers want for Christmas is… clarity in the housing market.&nbsp;Housing sales across the country are reflecting people’s reluctance and hesitancy to purchase. According to Wowa, as of November 20th, 2025, monthly transactions have increased by 1.2% from last month but have decreased 6.3% from this time last year. The average sold price in Canada has increased 2.1% from last month, now sitting at $690,195. In Ontario, however, the average prices of condos have been decreasing. Today, let’s look at condo statistics around Canada and try to figure out why this trend is occurring. With that, we can develop some strategies and action the future opportunities.Hamilton, Ontario is seeing a modest condo price decrease, with a 3% decrease from this time last year, leaving the average sold price for condos at $466,506. The Greater Toronto Area is experiencing slightly more luck, with a condo price decrease of 4%, leaving the average sold price at $663,290. In Mississauga, prices drop even more. The average sold price has decreased 14% from this time last year, with an average price of $527,568. The trend keeps moving in Brampton. The average sold price of a condo in Brampton has decreased 15% from this time last year, sitting at $433,346. Compared with other cities across the country, these changes are major. In Montreal, the average price has not decreased from this time last year, with the average sold price of a condo being $425,000. The Greater Vancouver Area is also experiencing a modest increase of 0.8%, with the average sold price being $791,229. A major jump in average condo prices can be seen in Winnipeg, where the average sold price has increased 12% from this time last year, now sitting at $297,428.Despite these price decreases across the city, why is data showing that buyers aren’t interested? The general sales decrease across the Greater Toronto Area from this time last year is 14.7%, showing people are not interested in any property types, let alone condos. When looking at the data, however, condos seem to be the least successful among buyers with intention. Detached and semidetached homes are down 14% and 3.4%, respectively, Condos, on the other hand, have decreased by 20.8%.&nbsp;Back in early May of this year, TD Economics predicted that condo prices were going to continue to drop and list several reasons why this would occur. The first is the city’s population growth slowing as immigration policies tighten. After the election, Mark Carney committed to revamp some Trudeau-era immigration policies. They also suggested the trade war is putting people off from buying a home at this time. They reported that the Bank of Canada found 25% of respondents “were less likely to make a major purchase given trade tension.” There are also labour implications associated with the tariffs and that, as TD predicted, employment participation rates would drop, putting a damper on people’s confidence in their ability to purchase a home. They also anticipated the completion of condo projects to decrease.TD predicted correctly; Global News reported on December 9 that condo projects are stalling as people are holding off on purchasing. They stated that while 10 condo projects abandoned sales in 2022, no projects started selling in 2024 or 2025, simply because they could not even get their idea off the ground. They reported that no projects have been failing recently because they have not been able to even start. The reason for this can be chalked up to affordability for everyone involved: builders can’t afford to build and buyers can’t afford to buy.&nbsp;As Global News reports experts stating the result of these failures will be a “severe shortage of housing” in 2027 &amp; 2028. Toronto condos lagging in November as Canada’s next housing shortage is shaping up.&nbsp;Picking a bottom or picking a top is only easy after the fact. In real-time it is very difficult. Should a consumer buy today? It really depends upon their individual situation. If you are looking for a primary residence in the GTA, the discounts make the purchase much more attractive than it has been for years. If it is for investment, and you have the cash to weather another year of two, the housing shortage brewing in 2027 &amp; 2028 could make it a very profitable transaction.November showed softness in Toronto condos, but smart buyers know winter slowdowns often create springtime opportunities.We know that the trade and tariff issues will be solved. Governments may have received the wakeup call that they needed and will look for ways to cut taxes and rely less on housing to keep their accounts full. Pressure from citizens and realizing that of our position as a global resources’ superpower is our strength, may make governments refoucus on prosperity versus net zero green fantasies. If so, the future in Canada is bright.&nbsp;&nbsp;

Who are November’s Best and Worst Housing Performers?

Toronto condo prices fell sharply in November. We break down the numbers, explain why demand stalled, and where opportunity may emerge next.

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