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RE/MAX examined condominium activity between January – August 2024 in seven major markets across the country including Greater Vancouver, Fraser Valley, City of Calgary, Edmonton, Greater Toronto, Ottawa and Halifax Regional Municipality, and found that condo listings have soared in anticipation of increased demand in the fourth quarter of 2024 and early 2025.
Condo Market Trends
- Condo sellers have returned to the market, as the promise of further interest rate cuts attracts buyers and heightens demand in late 2024 and early 2025. As a result, condo listings have soared.
- This is arguably the most favourable climate condominiums buyers have seen in recent years, with less competition from investors and a good supply of inventory.
- Condo values have held up surprisingly well given the influx of listings, with price gains reported in 86% of markets examined.
- Immigration and inter-provincial moves will drive demand for condos in 2025, which are a typical entry level home seen as a first step to home ownership, and a middle step in Canada’s priciest markets.
Regional Market Trends
RE/MAX brokers and agents in Canada’s biggest cities were asked to provide an overview of condo market activity in 2024, and an outlook for the remainder of the year and into 2025.
Social Shareables
There are regional and national assets available for you to download and leverage on your social channels to help keep your clients and network informed on the latest condo market trends.
