By Jarrett Hunter, Realtor® | RE/MAX Your Community Realty

If you own a Toronto condo and you’re considering selling, you’ve probably asked yourself whether now is the right time or whether you’d be better off waiting for the market to improve.

It’s a question I hear from condo owners regularly, and there isn’t one answer that works for everyone. Some owners need to sell because they’re relocating, buying a larger home or making a lifestyle change. Others have the flexibility to wait and want to know whether holding onto their property could be more financially rewarding.

My advice is to look beyond the headlines. The decision should be based on your condo’s current market value, your monthly carrying costs, competing properties and what you plan to do after the sale.

What’s Happening in Toronto’s Condo Market?

Toronto’s condominium market has experienced changing conditions throughout 2026. Buyers have generally had opportunities to compare properties carefully and negotiate, while sellers have needed to pay close attention to pricing and presentation.

According to the Toronto Regional Real Estate Board’s September 2026 Market Watch report, there were 5,040 home sales across the Greater Toronto Area, down 9% from September 2025. The average selling price across all property types was down 5.1% year over year.

Those are GTA-wide figures rather than statistics for your individual Toronto condo building. They’re useful for understanding market sentiment, but they cannot tell us exactly what your property will sell for.

For condo owners, I believe the more important information is often much closer to home: recent sales in your building, similar suites currently listed and how much competition exists within your particular price range.

Source: TRREB Market Watch — September 2026

The Case for Selling Your Toronto Condo Now

Selling now can make sense when you’ve already decided to move, your property is no longer meeting your needs or the ongoing cost of ownership is becoming difficult to justify.

Every month you continue to own the condo brings expenses. These may include mortgage interest, maintenance fees, property taxes, insurance and utilities. Depending on your financial circumstances, these costs can be significant over six months or a year.

Selling can also make sense if you are purchasing another property. If you’re moving into a larger condo or house, you may find that a softer market creates opportunities on the buying side as well.

In that situation, focusing exclusively on getting a higher price for your current condo can miss the bigger picture. The difference between your selling price and your next purchase price may be more important than either number on its own.

When Waiting Might Make More Sense

There are also situations where waiting may be reasonable. If you’re comfortable living in the condo, your finances are manageable and you have no immediate reason to move, you may prefer to monitor the market.

A change in economic conditions, buyer confidence or available inventory could improve the selling environment. However, there’s no guarantee that prices will increase within a particular timeframe.

Waiting works best when it is a conscious financial decision rather than simply hoping to recover a previous property value.

For condo owners considering renting out their property while they wait, I recommend reviewing the expected rental income, monthly expenses and Ontario tenancy obligations. Becoming a landlord may be an option, but it introduces additional responsibilities and can affect how the property is eventually sold.

What Does Waiting Another Six or Twelve Months Actually Cost?

This is one calculation I encourage condo owners to make before deciding to postpone a sale.

Consider the interest portion of your mortgage payments, condominium maintenance fees, property taxes, insurance and other ownership expenses. Mortgage principal payments are different because they generally build equity rather than representing a pure expense, although they still affect your monthly cash flow.

For example, if your estimated ownership expenses total $2,000 per month, holding the property for another six months represents approximately $12,000 in expenses before considering changes in its market value. This is an illustration, not an estimate for your specific condo.

Then ask yourself how much the selling price would need to increase to justify waiting, allowing for selling costs, investment alternatives and your own financial situation.

This exercise won’t predict the market, but it can help you make a better-informed decision.

Before Deciding, Find Out What Your Condo Is Worth Today

The first step should be establishing a realistic value range for your particular suite. I look at recently sold properties, active competition, your floor plan, condition, views, parking, maintenance fees and other features that influence buyer demand.

It’s also helpful to understand how long comparable condos have been on the market and whether sellers have needed to adjust their asking prices.

For a more detailed explanation of the evaluation process, read my article: How Much Is My Toronto Condo Worth in Today’s Market?

My Advice: Make the Decision Based on Your Numbers

I wouldn’t advise a condo owner to sell simply because the market feels uncertain. I also wouldn’t recommend waiting solely because prices were higher a few years ago.

Instead, I prefer to compare what selling today could realistically achieve against the financial and practical consequences of holding the property.

That means reviewing your current estimated value, remaining mortgage, selling expenses, monthly costs and future housing plans. If you’re buying another property, we should consider that transaction as part of the same decision.

Sometimes the numbers will support selling now. Sometimes they will support waiting. Either way, the objective is to make a decision with a clear understanding of the trade-offs rather than trying to guess exactly when the market will turn.

Frequently Asked Questions About Selling a Toronto Condo

Is 2026 a good time to sell a Toronto condo?

That depends on your property, financial position and reason for selling. Market-wide statistics provide context, but recent comparable sales and competing listings are more useful for determining what your individual condo may achieve.

Will Toronto condo prices go up if I wait?

They may, but future price increases are not guaranteed. Interest rates, economic conditions, new condominium supply and buyer demand can all influence future market values.

Should I sell my condo before buying another property?

Selling first can give you greater certainty about your available equity and purchasing budget. Buying first may provide more flexibility when choosing your next home, but it can also introduce financing and closing-date risks. The best approach depends on your circumstances.

What if my condo is worth less than I originally paid?

Start by establishing its current market value and estimating the proceeds after mortgage repayment and selling expenses. Your original purchase price matters to your financial results, but today’s buyers generally make decisions based on current comparable properties.

Should I rent out my condo instead of selling?

Potentially, if the rental income, carrying costs and responsibilities of being a landlord make financial sense. You should also consider the implications of Ontario tenancy laws for a future sale. Visit my Toronto Landlord Resource Centre for more information.

Can I get a condo evaluation if I’m not ready to sell?

Yes. A preliminary evaluation can help you understand your options without committing to list your property. An in-person walkthrough is recommended for a more accurate assessment of your suite’s condition and features.

Jarrett Hunter, Realtor® | RE/MAX Your Community Realty | Toronto, Ontario