Developers Face Record Toronto Condo Inventory: Combining Units Not a Solution
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In the first quarter of 2026, Toronto saw a staggering 4,295 new condos completed but unsold, according to Urbanation. This figure represents more than double the unsold inventory from the previous year and nearly five times that of two years ago, indicating a significant shift in the market.
Currently, Toronto has about 92 months of completed new condo supply available, with an additional 8,629 unsold units under construction. The Bank of Canada reports that smaller units, which make up 60% of new condo offerings, are not aligning with buyer demographics, as only 30% of new households fit the profile for these smaller spaces.
Question
Given the high inventory levels, how can developers effectively market their unsold units to attract buyers?
Editor's Comment
As a seasoned agent in the Greater Toronto Area, it's clear that the current market dynamics are challenging for developers. The focus should shift towards understanding buyer needs and adapting to the market rather than relying on outdated strategies like combining units.