Condo inventory has surged nearly 80% since mid-2022, with units now taking around 90 days to sell—three times longer than in 2022—while other homes sell faster.
Older generations and cash investors remain the primary condo buyers, supporting demand despite a cooling market.
New condo sales are declining, with activity increasingly concentrated in a limited number of urban areas.
Overall condo prices are softening across the country, signaling weakening demand and increasing market risks.