Pre-construction · July 20, 2026

New condo sales in the GTHA rose last quarter, but supply is thinning quickly

New condo apartment sales rose about 52% year over year to 702 units, still roughly 86% below the 10-year Q2 average. The gain came from completed buildings (535 units, helped by bulk purchases and HST relief). Pre-construction sales fell about 80% to 50, and no new projects launched for a second quarter.

Stacked townhouses in northwest Oakville

Photo: Luka0188, CC BY-SA 4.0, via Wikimedia Commons. Illustrative: it does not show the property or event described.

Source: Urbanation Q2 2026, as reported by CP24 ↗

What it means: The activity is in completed inventory. That is where builder incentives and flexibility tend to show up.

Urbanation’s Q3 report is expected in late October; check it before relying on these figures.

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Pre-construction · October 16, 2026CMHC releases September housing startsCMHC says it will publish September starts on 16 October at 8:15 a.m. ET. August’s annualized pace was 229,046 units, barely changed from 229,360 in July, and CMHC expects the trend to keep drifting down toward year-end. Starts are the early signal for how many new homes reach the market in two to four years.CMHC (release schedule stated in its August 2026 release)

Aerial view of Oakville’s harbour, downtown and the Lake Ontario shoreline

Pre-construction · July 20, 2026HST rebate timing risk for pre-construction buyersUrbanation notes that the proposed HST relief requires construction to start before 31 March 2027 and be substantially complete by 31 December 2029. A project that starts late may not qualify.Urbanation Q2 2026, as reported by MPA

A courtyard and lawn beside brick apartment buildings in downtown Oakville

Pre-construction · July 15, 2026BILD: GTA new home sales in June, 52% below the 10-year average1,175 new homes sold in June, up from the record low a year earlier but still about half the 10-year average. Remaining inventory was 18,888 units, and the new condo apartment benchmark was about $1.04 million.BILD / Altus, June 2026 (via Storeys)

Summaries are independently written; the source is credited and linked where a link exists. Not financial, mortgage, tax or legal advice. Not intended to solicit buyers or sellers currently under contract with another brokerage. Yovan Gabric, REALTOR®, Royal LePage Pinnacle, Brokerage, independently owned and operated. E. & O.E.

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New condo sales in the GTHA rose last quarter, but supply is thinning quickly

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