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Canada’s weak condo market leaves potential house buyers ‘kind of stuck’

While optimism is building in some parts of Canada for a rebound in the real estate market, condominium dwellers wanting to move up to a larger space face tough choices amid little sign of improvement for that segment.
Cities like Toronto and Vancouver have seen condo sales drop off, if not stagnate, in recent years following a rush of new supply opening up and plummeting investor demand.
For some regions, that marks a divergence from the overall real estate picture. Many industry watchers are now forecasting a turnaround in the housing market in the coming months after the first half of 2025 was plagued by economic uncertainty related to tariffs and job losses.
It’s left those looking to leave condo life behind and upgrade to a house in a tough spot: sell now at a lower than anticipated value, or wait out the storm.
“They’re kind of stuck,” said Victor Tran, a mortgage and real estate expert for Rates.ca.
“They hoped to bank on the appreciation of the condo in the coming years so they can pull that money out and use that as a down payment to upgrade to a larger home. But the money is just not there anymore.”
Since 2022, condo apartment sales have dropped by 75 per cent in the Greater Toronto Area and 37 per cent in the Vancouver area, respectively, said a report last month by Canada Mortgage and Housing Corp. Meanwhile, inventories have more than doubled and prices fallen in those regions.
The national housing agency said the condo market is expected to remain weak as completions “remain near record levels and demand remains subdued.” It added there is little evidence to suggest price declines will quickly reverse “given the national and global economic outlook.”

“There are certain (situations) where sellers have just decided to hit the sell button and take a loss on their condos, unfortunately, and just move on,” said Adil Dinani, a Vancouver-based real estate agent at Royal LePage West Real Estate Services.
“There’s a lack of liquidity in the condo market, so that’s preventing potential move-up buyers from reallocating that money, or buyers from moving up in the market, potentially, because their condos aren’t worth what they expected them to be worth.”

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A report released by the Toronto Regional Real Estate Board in May showed condo apartment sales in the Greater Toronto Area were down 21.7 per cent in the first quarter of this year compared with the first three months 2024. Meanwhile, new listings in the quarter were up 25.2 per cent year-over-year for that segment.
Condo sales were down 2.5 per cent last month on a year-over-year basis, roughly in line with overall home sales trends for the region. However, that came after activity in the condo market declined 25.1 per cent in May — far outpacing the drop in sales for other housing types.
That month, detached home sales declined 10.6 per cent, townhouses were down 9.8 per cent and semi-detached homes ticked 0.3 per cent lower from May 2024.
Toronto-area real estate agent Vy Ngo described the condo market as “brutal,” even as activity has started to stabilize when it comes to other properties.
“I have multiple condo listings right now. It’s very difficult to sell,” said Ngo, a sales representative with Big City Realty Inc.

“It will probably be trending down the rest of the year, (into) next year. It’s going to be awhile until it picks back up.”
In Greater Vancouver, there were 1,040 sales of condo apartments last month, a 16.5 per cent decrease compared with June 2024. That was a steeper year-over-year decline relative to sales of detached houses, which were down 5.3 per cent from June 2024, while sales of attached houses were up 3.7 per cent.
At the moment, Dinani said the market price for a successful condo sale is ultimately dependent on “who is the most motivated seller in the neighbourhood.”
“Some sellers are open-minded and are in a position where they want to sell and they’re committed to selling, and there are still buyers for those properties,” he said.
“But if you’re in a position where you have your mindset stuck on a certain price or a certain expectation and the market’s not supporting it, we’re just encouraging sellers to hit the brakes and find alternatives. So they’re staying in the home long-term, renting the property out if their financial situation allows them to do so, and then revisiting it.”
Tran called it a “scary time” for people looking to upgrade to a larger home due to the risks involved in selling their current property, such as the possibility that finding a buyer could take much longer than hoped.
While he said it’s safer to sell first and then make an offer on a new property to buy, that also comes with the risk of not finding a property in time to move.
“A lot of people are wondering, like ‘OK, when are we going to hit the bottom, when are we going to see some recovery and confidence put back into the market, when are we going to start seeing things turn around?’ No one knows,” said Tran.
“I, personally, don’t think it’s going to be any time soon.”
© 2025 The Canadian Press
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Kirk plays hero, steals first base in Jays’ win

TORONTO – Alejandro Kirk’s late-game heroics resulted in three deafening ovations from the 42,260 inside the Rogers Centre on Friday.
The first roar arrived in the seventh inning when the Toronto Blue Jays catcher smacked an opposite-field two-run homer to right.
The next inning, the sellout crowd cheered as Kirk delivered a bases-loaded single to left field to score the game-tying and game-winning runs.
But the most thunderous praise from the faithful came when Kirk caught the Texas Rangers by surprise and stole his first career base.
“I didn’t know what was going on,” Kirk said through an interpreter after the 6-5 win. “Then I turned around and saw myself (standing at second base) on the scoreboard.”
The Blue Jays celebrated along with their low-key teammate’s first stolen base. Vladimir Guerrero Jr. pulled the base out of the ground and presented Kirk with the keepsake.
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Kirk stated the memento will soon be on display in his home. He also admitted he was surprised when first-base coach Mark Budzinski told him to steal second.

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“I looked around and said, ‘Are you serious?’” Kirk said.
Budzinski was serious. Kirk made history. He was holding on to the base during his post-game interview.
“The fact that he was holding it on the field post-game is even better,” Blue Jays manager John Schneider said. “I think they’re authenticating it.”
Although Toronto starter Chris Bassitt endured a difficult outing, lasting only five innings and giving up an early three-run homer, his night ended on a high note, watching his battery mate’s late-game wizardry.
“He’s catching (all-time base stealing leader) Rickey (Henderson) slowly,” Bassitt said with a smile.
Kirk hit his homer with an 0-1 count and his single with a 1-2 count.
“Kirk, the hitter, is pretty hard to face,” Bassitt said. “So I hate to say it, but I expect it from him. There are not many guys on our team that I’d rather have up than him because he can do damage with any kind of pitch.
“I’m always happy when he’s up late in big situations.”
This was the American League East-leading Blue Jays’ 39th comeback win of the season, and second in as many games after Guerrero belted a game-winning two-run homer in the seventh inning for a 2-1 win against the Chicago Cubs on Thursday.
“I think the more you do it, the more comfortable you are when you’re in that situation,” Schneider said. “It’s not luck. It’s hard to do, but like anything, the more you do it, the better you get at it.”
Springer, Bieber updates
George Springer homered in the second of three at-bats in his rehab start for triple-A Buffalo on Friday and could return to the Blue Jays lineup on Saturday.
Righty Shane Bieber pitched seven shutout innings in Buffalo, striking out four with six hits and no walks on 90 pitches.
Bieber could make his Blue Jays debut next week, likely on the road against the Miami Marlins next Friday.
This report by The Canadian Press was first published Aug. 15, 2025.
© 2025 The Canadian Press
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Kirk’s heroics lift Blue Jays past Rangers 6-5

TORONTO – Alejandro Kirk followed a two-run homer in the seventh inning with a game-winning two-run single in the eighth to push the Toronto Blue Jays to a 6-5 comeback win in the series opener against the Texas Rangers on Friday.
Kirk’s single with the bases loaded allowed the Blue Jays (72-51) to overcome a three-run deficit. Before Kirk’s deciding at-bat, Texas reliever Phil Matton (2-5) walked Daulton Varsho with the bases loaded to pull the home team within two runs before 42,260 at Rogers Centre.
Kirk and Rangers infielder Marcus Semien traded two-run homers in the bottom of the seventh and top of the eighth.
Reliever Louis Varland (4-3) registered the win with Jeff Hoffman notching his 28th save.
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Jacob deGrom pitched five shutout innings, allowing only two hits with no walks and five strikeouts as the Rangers’ (61-62) losing streak was extended to three games.

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Kyle Higashioka hammered a three-run homer in the second inning.
The three-run blow was one of only four hits off Toronto starter Chris Bassitt, who lasted five innings on 100 pitches and matched a season-high four walks with four strikeouts.
Blue Jays right fielder Nathan Lukes made a pair of defensive gems early. With his back against the wall, he jumped to take an extra base hit away from Joc Pederson in the first inning.
In the second inning, Lukes fielded Evan Carter’s rocket off the wall and caught the Rangers outfielder at second.
Takeaways
Rangers: They began the day 3 1/2 games back of the final American League wild-card spot.
Blue Jays: George Springer homered in the second of his three at-bats in his rehab start for triple-A Buffalo on Friday. Shane Bieber pitched seven shutout innings in Buffalo, striking out four with six hits and no walks on 90 pitches. Springer is expected to rejoin Toronto on Saturday, and Bieber could make his Blue Jays debut next week.
Key Moment
Kirk’s bases-loaded single in the eighth inning scored the tying and go-ahead runs.
Key Stat
Bassitt still hasn’t suffered a loss at home in 2025, going 8-0 with six no decisions.
Up Next
Lefty Eric Lauer (7-2) will face Texas southpaw Patrick Corbin (6-8) in the middle outing of the three-game set on Saturday.
This report by The Canadian Press was first published Aug. 15, 2025.
© 2025 The Canadian Press
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No grounds for charges against Toronto officers after teen fatally shot: SIU

The Special Investigations Unit has concluded that there “are no reasonable grounds to believe” either officer committed a criminal offence in the death of a 16-year-old boy following an exchange of gunfire with police.
In the 10 seconds from when the first shot was fired by the teen to when the gunfire ceased, more than two dozen total rounds were fired, according to the SIU report released Friday.
The April 20 incident drew widespread attention when it was learned the deceased was just 16 years old, and after video from the incident was released to the media, prompting the Toronto Police Service to launch a professional standards investigation.
The 16-year-old was shot during a traffic stop near Bathurst Street and Sheppard Avenue West at around 11 p.m. and died in hospital the following day.
According to the SIU report, a red Infiniti G35 two-door coupe was driving eastbound on Sheppard Avenue West when it was pulled over by a police officer east of Bathurst Street, next to the apartment complex at 569 Sheppard Ave. W. There were six people in the five-occupant car, including the victim, or Complainant, who was sitting in the back right of the vehicle with someone on his lap.
The SIU said the female driver told police the vehicle was not hers, but belonged to an acquaintance, and that the officer asked them to wait while he went to his cruiser to run checks on her licence. He returned and said he smelled cannabis in the vehicle and that he wanted them to step out so it could be searched. Two more officers had arrived at this time and were standing at the passenger side of the Infiniti. The driver and front passenger exited the vehicle and the female passenger on the victim’s lap exited as well, leaving three people in the back of the vehicle, the report states.

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“The Complainant subsequently moved as if he was about to exit the Infiniti when he suddenly reached to his left with his right hand before swinging his right hand to the right in the direction of the open door. He was in possession of a semi-automatic pistol, which he fired once or twice at (an officer),” the SIU said.
That officer then drew his firearm, as did the officer by the driver door. An autopsy found that the complainant died of gunshot wounds to the head.
SIU director Joseph Martino writes in his decision that when the 16-year-old began shooting at police, “the officers could only have concluded that their lives were in immediate peril and that action of some type was imperative if they were going to survive.”
However, he notes that the 14-16 rounds fired by one officer and 10 or 11 by the other “contributed to an incredibly dangerous situation,” especially considering there were two other passengers still in the vehicle, the officers were firing across from each other, and there were three others who exited the vehicle but were still nearby.
“The number of shots fired by the officers is worthy of scrutiny, but is understandable in the final analysis given the evidence that the Complainant discharged his firearm three or four more times after the officers first started to fire.”
Martino also noted that the police were not firing “indiscriminately” as the trajectory of bullets showed the gunfire was generally aimed at the complainant.
Both subject officers declined an interview with the SIU, nor did they provide notes, “as is the subject official’s legal right,” the SIU explained. Two civilian witnesses and five witness officials were interviewed as part of the investigation, which also took into account police body camera footage, in-car camera footage, surveillance video from the area and police radio communications.
Meanwhile, Toronto police said in April that five people had been charged in connection with the traffic stop: a 20-year-old man, an 18-year-old woman, two 17-year-old girls and a 16-year-old girl.
© 2025 Global News, a division of Corus Entertainment Inc.
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