.png)
About the MLS® HPI
The MLS® HPI is calculated using a sophisticated statistical model that augments the traditional repeat sales approach (i.e., comparing the sale price for the same home between two points in time) by taking into account a home’s quantitative (e.g., number of bedrooms and bathrooms, square footage, lot size, age) and qualitative (e.g., whether it has a finished basement, views, proximity to amenities) features. This method accounts for and assigns value to changes in homes over time. (source TREB)
The November 2025 update for apartment-style properties across the GTA shows that the condo market continues to feel the effects of higher borrowing costs. Short-term trends remain soft, with most regions experiencing declines over the past 3 to 12 months as buyers weigh affordability and higher carrying costs. Toronto still leads the condo market with a benchmark price of $576,500, but even the urban core has seen a year-over-year drop of more than 6%. The softer results particularly reflect investor caution and lower first-time buyer activity as monthly mortgage payments remain elevated.
However, the long-term story remains strong, especially in more affordable outer-GTA communities. Regions like Simcoe, Halton, and Durham show impressive 10-year gains ranging from 86% to 97%, demonstrating that condos continue to deliver solid equity growth over time. These areas also offer significantly better affordability compared to central Toronto and are benefiting from increased demand from young families, remote workers, and downsizers looking for space at a lower price point.
Overall, while the condo segment is currently slower-paced and more negotiable, it continues to provide an excellent entry point into homeownership with strong potential for future appreciation as interest rates eventually ease. For buyers, this is a more balanced and opportunistic environment than we have seen in years — particularly in growth-focused regions outside the city core.
=======================================================================
Greater Toronto Area Regions (Toronto - Dufferin - Simcoe - Peel - Halton - York - Durham)
Region of Simcoe (Essa - Adjala-Tosorontio - Bradford West Gwillimbury - Innisfil)
Region of Peel (Caledon - Brampton - Mississauga)
Region of Halton (Milton - Burlington - Halton Hills - Oakville)
Region of York (King - Vaughan - Markham - Richmond Hill - Whitchurch-Stouffville - Aurora - New Market - East Gwillimbury - Georgina)
Region of Durham (Uxbridge - Pickering - Brock - Scugog - Ajax - Whitby - Oshawa - Clarington)
