Faced with a challenging condo market in the Greater Toronto Area, many owners are choosing to renovate their existing spaces rather than move. A severe mismatch between available inventory and buyer demand, coupled with falling rents, has impacted condo values, leaving would-be move-up buyers on the sidelines. According to a recent report by the Toronto Regional Real Estate Board, condo sales in the GTA fell 15% in the fourth quarter of 2025 compared to the previous year, with average selling prices down 5.1% to $652,945. A HomeStars survey indicates that 34% of Canadians are more likely to renovate in 2026, with that figure jumping to 43% for those aged 18-34. Experts emphasize the importance of considering resale value when renovating. Read the full story on thestar.com for more insights into this trend.
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