Market update: detached homes and condos do not move together

Freehold detached houses derive much of their value from land, and the supply of serviced residential land inside established Ontario cities barely changes. When demand rises, prices absorb it.

Condominiums are different. New towers can add hundreds of comparable units to a single neighbourhood, and investor owners are more willing to sell or rent depending on returns. Supply responds, so prices are more volatile in both directions.

That is why a headline saying the average price rose or fell can be true while your own segment did the opposite. Always compare within your housing type, your city, and ideally your neighbourhood.