(Ottawa, ON) – New condominium apartment prices fell 0.8 per cent in Toronto in the third quarter of 2026, while the Ontario portion of Ottawa-Gatineau recorded a 1.6 per cent increase, Statistics Canada reported Tuesday.

The agency’s November 3 release put the composite index for nine metropolitan areas at 120.8, down 0.6 per cent from the previous quarter. The index uses 2017 as its base year, set at 100.

Victoria had the largest quarterly decline among the covered markets, at 1.8 per cent. Vancouver fell 1.0 per cent, Edmonton dropped 0.7 per cent and Calgary declined 0.3 per cent. Montréal rose 0.7 per cent, while Halifax and Québec were unchanged.

Toronto’s index stood at 127.6. The Ontario part of Ottawa-Gatineau reached 143.9, recording the largest quarterly percentage increase among the nine metropolitan areas.

The measure tracks developers’ selling prices for newly built apartment-style condominiums. Statistics Canada says the figures are not seasonally adjusted and can be revised for one quarter.

According to the agency’s technical guide, prices are based on completed transactions or, when a unit has not sold during the reporting period, its list price. Sales taxes and additional fees paid by buyers are excluded from that definition.

The calculation also accounts for reported premiums and incentives before standardizing unit prices by square footage. Monthly values are averaged to produce a quarterly index. These adjustments are intended to compare similar units over time rather than allow changing unit sizes or features to determine the price movement.

Accompanying image: editorial illustration.

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