Toronto Luxury Condos Q3 – 2026 | Market Update

After a quieter start to the year, the luxury condo market became noticeably more active through the spring. That increase in activity continued through the summer, even though it is typically one of the quieter times of the year for the market.

Buyers are looking, deals are getting done, and there seems to be more confidence than we saw earlier in 2026.

Good Inventory Remains Limited

There is still a lack of good-quality inventory in the buildings buyers want. Larger layouts, good views, outdoor space and well-finished interiors continue to be in demand, and there simply have not been enough of those properties coming to market.

When the right suite does become available, buyers are paying attention.

Q3 2026 Compared With Q3 2025

Third-quarter sales were essentially unchanged from last year, with 30 transactions compared with 31 in Q3 2025.

Average pricing was approximately $1,359 per square foot, down from $1,443 last year. Part of that decline reflects the mix of properties that traded. We have seen a number of larger suites come to market this year, many of which require updating, and those properties generally sell at a lower price per square foot than smaller, more renovated suites.

That has had a noticeable impact on the quarterly average and is important context when looking at the headline number.

Average days on market also increased, rising to approximately 65 days compared with 49 days in Q3 2025.

What the 2026 Numbers Are Telling Us

Looking at 2026 overall gives a slightly different perspective. While fewer properties have traded, average pricing on a per-square-foot basis has remained almost identical to last year at approximately $1,416.

That is an important part of the story. The market has been slower, but values for good properties have generally held up quite well.

Where we have seen the bigger change is in the amount of time it can take for a sale to come together. Buyers have more time to consider their options and are negotiating, but they are also moving forward when they find the right property.

Opportunities for Both Buyers and Sellers

We think this is a good market for both buyers and sellers.

Ultimately, this is a market where the right representation and strategy matter more than ever. Understanding the individual property, the competition and where there is room to negotiate can make a meaningful difference on both sides of a transaction.