My plans to move away from Canada are officially on hold. Why? The Toronto condo market has shifted heavily into a buyer’s market, meaning my place is sitting on the market longer than expected. While I wait out the real estate slump, I am focusing on what I can control right here in the city.
If you have been following my journey, you know I’ve been busy planning a massive new chapter: retiring early and moving somewhere warm in southwestern Europe. I’ve done the scouting trips, researched the visas, and even spent months brushing up on my language skills.
The next big step was simple: sell my Toronto condo, pack my bags, and head out.
But as the saying goes, life is what happens when you’re busy making other plans. Right now, my passport is sitting in a drawer, and my move is completely on hold. My condo is still for sale, and it simply isn’t moving.
It turns out I am caught in a major shift in the local property market. If you are wondering why nothing is selling right now. This video explains it all.
Too Much Choice for Buyers
According to the latest TRREB Q1 2026 Condo Market Report, total condo sales across the Greater Toronto Area dropped by 11.3% compared to the same time last year.
Even though fewer people are listing their places right now, the total number of active, available condos on the market is still sitting at a massive 6,688 units. Because buyers have so many options to choose from, they aren’t rushing into anything. They hold all the power.
Prices Are Sliding
Because there is so much inventory sitting around, prices are adjusting downward. The average GTA condo selling price fell 9.1% year-over-year to $618,484. In the City of Toronto specifically, the average price dropped to $649,330—a big drop from over $711,000 just a year ago.
A recent RBC Housing Affordability Report notes that Toronto condo affordability has actually improved back to its pre-pandemic “normal” level. That is great news if you are looking to buy a first home, but it is a tough pill to swallow when you are the one trying to sell.
The Waiting Game
Properties are just taking longer to clear. TRREB data shows that the average time a condo sits on the market has climbed to 43 days. (Mine has been on the market for much longer than that.) Buyers are negotiating hard from below the listing price, not above it. If your price doesn’t perfectly match today’s reality, buyers will simply look elsewhere.
What Comes Next (For Now)
So, what does an early retiree do when his grand relocation plans get sidelined by a real estate slump? You pivot. You can’t control the global economy, the Bank of Canada, or how many condos are sitting on the market, but you can control how you spend your days.
While I wait for the market to sort itself out, I am making the most of my time right here in Toronto:
Staying Active: I’m hitting the gym consistently and getting back out onto the tennis courts. It’s a great way to stay sharp, and honestly, running around a court is the perfect stress reliever when your life is up in the air.
Getting Visual: I’ve been spending my afternoons soaking up some local culture, including regular visits to the Art Gallery of Ontario to check out the latest exhibitions.
Keeping Up the Languages: The move might be delayed, but the goal hasn’t changed. I’m keeping my language studies taking French at Alliance française so that whenever that “Sold” sign finally goes up, I’ll be fully ready to hit the ground running.
It is a lesson in patience and mindfulness. The dream isn’t cancelled—it’s just waiting for the right buyer to come along.
Are you trying to navigate this Toronto market right now? Let me know your thoughts in the comments below!
