There's still one place in the Toronto area where condo prices are skyrocketing

Condo prices in Ontario are dropping at alarming rates as inventory skyrockets, projects are scrapped, and new construction starts fall off a cliff. However, there is still one pocket of the Greater Toronto Area (GTA) where homeowners and investors are cashing in on runaway real estate values.

Toronto homeowners have been hard-hit by downward market trends in 2025, with year-over-year declines that have sellers in the city often offloading units at a loss. 

However, the latest September data from the Toronto Regional Real Estate Board and analysis from Zoocasa show that Toronto had it comparatively easy over other GTA municipalities, while one locale in the region actually saw condo prices soar at surprising rates this year.

Toronto's condo market continues to adjust to a severe drop in demand and a sharp uptick in supply. The average condo price in Canada's largest city declined by a shocking $26,802 year over year, a 3.8 per cent drop over Sept. 2024, sliding from $707,917 to $681,115.

Milton had it even worse, with its average price of $603,971 down $32,989 from Sept. 2024, a decline of 5.18 per cent.

Mississauga condo prices dropped 8.13 per cent year-over-year to an average of $563,084, a shocking $49,853 decline.

Brampton experienced a similar decline, with the average price of a condo in Sept. 2025 falling $49,615 year-over-year to $471,547, a concerning 9.52 per cent dip.

But it was Caledon that saw the most severe decline in average home price, falling a staggering 21.6 per cent year-over-year in September, to $652,500. Just a year earlier, the average Caledon condo was selling for $832,475, for a colossal decline of $179,975.

Bucking the trend of this widespread downturn in the regional condo market, places like Halton Hills and Aurora seemed more or less immune to the downward trend.

Halton Hills prices crept up by 5.6 per cent year-over-year in September, but it was Aurora that truly defies current trends with a meteoric 14.9 per cent rise in condo prices. The average Aurora condo will now cost you an average of $717,800, representing a leap of $92,800 from 2024.

The extreme change in Aurora condo prices is, at least in part, likely due to the comparative lack of new condos compared to the more populous areas of the region.

In a part of the GTA where tract subdivision housing remains the dominant built form, just a few luxury condo developments coming online can easily shift the balance in average local prices.

So, while the investor market may be drying up across the region, there is still one place in the GTA that condo speculators have left to trample.