{"id":11715,"date":"2026-08-02T14:24:25","date_gmt":"2026-08-02T14:24:25","guid":{"rendered":"http:\/\/lets-canada.com\/en\/?p=11715"},"modified":"2026-08-02T14:24:25","modified_gmt":"2026-08-02T14:24:25","slug":"new-canadian-condo-prices-fell-0-7-in-q2-led-by-vancouver","status":"publish","type":"post","link":"https:\/\/lets-canada.com\/en\/new-canadian-condo-prices-fell-0-7-in-q2-led-by-vancouver\/","title":{"rendered":"New Canadian condo prices fell 0.7% in Q2, led by Vancouver"},"content":{"rendered":"

Updated August 2, 2026 at 7:30 a.m. Pacific time. Prices, rates and project terms change; confirm any transaction against current official information, contracts and professional advice.<\/strong> New condominium apartment prices moved lower in Canada during the second quarter, but the national headline does not describe every market. Statistics Canada\u2019s latest index fell 0.7% from the first quarter across nine census metropolitan areas. Vancouver posted the largest decline, down 2.6%, while Toronto was unchanged.<\/p>\n

My first question on seeing the table was not which city has the cheapest condo, but what the index actually measures. It follows developer selling prices for newly built, apartment-style condominium units. Prices are standardized by square footage and adjusted for quality differences such as floor level, view and parking so that comparable products can be tracked from one quarter to the next. It excludes resale condos and is not a ranking of average transaction prices or advertised project prices.<\/em><\/p>\n

\"Original
Original Let\u2019s Canada editorial illustration. It is a generic Canadian urban scene, not a photograph of a named project, city or data-collection site.<\/figcaption><\/figure>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Market<\/th>\nQ2 2026 index<\/th>\nQuarterly change<\/th>\n<\/tr>\n<\/thead>\n
Nine-market composite<\/td>\n121.5<\/td>\n-0.7%<\/td>\n<\/tr>\n
Halifax<\/td>\n120.7<\/td>\n-0.1%<\/td>\n<\/tr>\n
Montr\u00e9al<\/td>\n133.5<\/td>\n-0.5%<\/td>\n<\/tr>\n
Qu\u00e9bec City<\/td>\n107.3<\/td>\n0.0%<\/td>\n<\/tr>\n
Ottawa\u2013Gatineau, Ontario part<\/td>\n141.6<\/td>\n-0.3%<\/td>\n<\/tr>\n
Toronto<\/td>\n128.6<\/td>\n0.0%<\/td>\n<\/tr>\n
Calgary<\/td>\n106.1<\/td>\n-1.1%<\/td>\n<\/tr>\n
Edmonton<\/td>\n109.1<\/td>\n-1.0%<\/td>\n<\/tr>\n
Vancouver<\/td>\n110.7<\/td>\n-2.6%<\/td>\n<\/tr>\n
Victoria<\/td>\n136.4<\/td>\n-0.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

The city split says more than the 0.7% composite. Vancouver had the sharpest quarterly move. Calgary fell 1.1% and Edmonton 1.0%, while Victoria matched the composite at -0.7%. Montr\u00e9al, the Ontario portion of Ottawa\u2013Gatineau and Halifax recorded smaller declines. Qu\u00e9bec City and Toronto were flat. Because the series is indexed to 2017=100, the level for one city should not be read as a direct dollar comparison with another. Unit size, location, project mix and current selling prices are still needed for an affordability comparison.<\/p>\n

The direction is consistent with CMHC\u2019s cautious 2026 view of parts of the new-housing market, but the two sources answer different questions. CMHC discusses demand, starts and the broader housing environment. The Statistics Canada release measures changes in developer selling prices. A flat Toronto index does not mean pre-construction sales, starts or resale condos were equally stable. Vancouver\u2019s 2.6% decline does not mean every neighbourhood and unit type received the same discount.<\/p>\n

For a buyer, this index works better as a market thermometer than as an offer formula. The Financial Consumer Agency of Canada says upfront or closing costs commonly amount to 1.5% to 4% of the purchase price, including items such as legal fees, inspection costs, tax adjustments and title insurance. CMHC\u2019s condo guidance also points to monthly fees, property tax, insurance, utilities, parking and reserve-fund exposure. New projects can add upgrade charges, development costs, occupancy fees and warranty differences. A falling price index does not automatically offset those ownership costs.<\/p>\n

If you are weighing renting against buying, compare this release with our guide to Canada\u2019s rent trend<\/a>. For banking, insurance, housing and settlement basics, the Canada Life hub<\/a> is the better starting point. This is an explanation of public statistics, so no affiliate link has been inserted.<\/p>\n

The data come from Statistics Canada\u2019s July 31 release<\/a>, with the definition and quality adjustment checked against its technical guide<\/a>. Broader context comes from CMHC\u2019s 2026 Housing Market Outlook<\/a>. Buyer-cost context was cross-checked against FCAC\u2019s home-buying guidance<\/a> and CMHC\u2019s condominium buyer\u2019s guide<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Canada\u2019s new condo price index fell 0.7% in Q2; Vancouver dropped 2.6% while Toronto was flat. Here is what the index can\u2014and cannot\u2014tell a buyer.<\/p>","protected":false},"author":1,"featured_media":11714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lc_last_content_reviewed_at":"2026-08-02","_lc_last_fact_checked_at":"2026-08-02","_lc_fact_check_status":"verified","_lc_source_grade":"A","_lc_source_titles":"Statistics Canada NCAPI Q2 2026; NCAPI technical guide; CMHC Housing Market Outlook 2026; FCAC Buying a home; CMHC Condominium Buyer Guide","_lc_source_publish_dates":"2026-07-31; 2022-05-04; 2026 outlook; current guidance","_lc_source_accessed_at":"2026-08-02T07:30:00-07:00","_lc_claims_checked":"Nine-market and city index levels, quarterly changes, survey scope, square-foot standardization, quality adjustment, index-base limitation, CMHC outlook distinction, federal closing-cost range and condominium ownership-cost categories.","_lc_claims_corrected":"Did not describe the index as average price, listing price, resale price, affordability ranking or a uniform citywide discount. Kept price-index data separate from demand and housing-start context.","_lc_unresolved_claims":"","_lc_correction_note_required":"0","_lc_reviewer_notes":"All central claims checked against first-party Canadian sources. The article is general information, not financial or legal advice.","_lc_fact_check_source_urls":["https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/260731\/dq260731g-eng.htm","https:\/\/www150.statcan.gc.ca\/n1\/pub\/62f0014m\/62f0014m2022004-eng.htm","https:\/\/www.cmhc-schl.gc.ca\/media-newsroom\/news-releases\/2026\/cmhc-releases-housing-market-outlook-2026","https:\/\/www.canada.ca\/en\/financial-consumer-agency\/services\/buying-home.html","https:\/\/www.cmhc-schl.gc.ca\/consumers\/home-buying\/buying-guides\/condominium\/chapter-4-buying-a-condominium"],"_lc_affiliate_widget_allowed":"","_lc_affiliate_widget_type":"","_lc_affiliate_widget_reason":"","footnotes":""},"categories":[44],"tags":[159,766,561],"lc_primary_section":[],"lc_location":[],"lc_topic":[],"lc_freshness":[],"class_list":["post-11715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canada-news","tag-159","tag-canada-life","tag-561"],"_links":{"self":[{"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/posts\/11715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/comments?post=11715"}],"version-history":[{"count":1,"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/posts\/11715\/revisions"}],"predecessor-version":[{"id":11716,"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/posts\/11715\/revisions\/11716"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/media\/11714"}],"wp:attachment":[{"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/media?parent=11715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/categories?post=11715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/tags?post=11715"},{"taxonomy":"lc_primary_section","embeddable":true,"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/lc_primary_section?post=11715"},{"taxonomy":"lc_location","embeddable":true,"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/lc_location?post=11715"},{"taxonomy":"lc_topic","embeddable":true,"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/lc_topic?post=11715"},{"taxonomy":"lc_freshness","embeddable":true,"href":"https:\/\/lets-canada.com\/en\/wp-json\/wp\/v2\/lc_freshness?post=11715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}