Key Takeaways
- Developers' prices for new condo apartments fell 0.6% in Q3 2026, with the index at 120.8 (2017=100)
- Prices fell in five of nine cities, led by Victoria (-1.8%), Vancouver (-1.0%) and Toronto (-0.8%)
- Ottawa-Gatineau (Ontario part) rose 1.6% and Montréal rose 0.7%, while Halifax and Québec were unchanged
Toronto Is Down. Vancouver Is Down. But Ottawa Is Going the Other Way.
Developers' selling prices for new condominium apartments fell 0.6% in the third quarter of 2026 from the quarter before, Statistics Canada reported on November 3. The New Condominium Apartment Price Index stood at 120.8, on a base where 2017 equals 100.
The index tracks what developers charge for comparable units in newly built apartment-style condos. It does not cover resale condos.
Five Cities Fall, Two Rise, Two Stay Flat
Prices fell in five of the nine cities surveyed. Victoria posted the steepest drop, down 1.8%, followed by Vancouver at 1.0% and Toronto at 0.8%. Edmonton fell 0.7% and Calgary 0.3%.
Two markets moved the other way. Prices in the Ontario part of Ottawa-Gatineau rose 1.6% — the strongest gain, and that market also has the highest index level at 143.9. Montréal rose 0.7%. Prices were unchanged in Halifax and Québec.
Toronto and Vancouver carry the most weight in the nine-city composite, so their declines drove much of the national drop.
Before You Call This a National Slide, Read the Fine Print
The figures are not seasonally adjusted, so quarter-to-quarter moves can partly reflect seasonal patterns rather than a pure price trend.
The index also has a one-quarter revision period. That means the Q3 figures can still be revised when Statistics Canada publishes the fourth-quarter data.
The Twikup Take
For buyers, continued softness in Toronto and Vancouver means developers have less pricing power — but a 0.6% dip is a nudge, not a bargain. The split with Ottawa and Montréal shows this is still a city-by-city market, not a national slide.
Image: AI-generated illustration.