Saskatoon condo prices are telling a very different story from Toronto’s in 2026.
Condo prices per square foot in Saskatoon have climbed 8.7% from 2025, while Toronto condo prices have fallen. Toronto Regional Real Estate Board (TRREB) data shows the average price of a GTA condo apartment fell 7.5% year over year in the second quarter of 2026.
Canada’s condo market is showing just how different housing conditions can be from one city to the next. So, what is driving the difference between these two condo markets, and what does it tell us about Canadian real estate in 2026?
Saskatoon Condo Prices Are Climbing
Saskatoon has been one of the stronger housing markets in Canada this year.
A recent survey found that the average price per square foot for a Saskatoon condo increased from $265 in the first half of 2025 to $288 in the first half of 2026. That works out to an 8.68% increase. This was one of the largest condo price increases among the Canadian communities included in the survey.
Saskatoon’s strength is not limited to condos, either. The same survey found that detached home prices increased 5.3% on a price-per-square-foot basis, rising from $377 to $397.
The wider Saskatchewan market also shows signs of strong demand. According to Canadian Real Estate Association (CREA) data for Saskatchewan, the median price of an apartment unit reached $220,000 in the second quarter of 2026. That was up 8.4% from $203,000 a year earlier.
Supply has also remained tight. CREA data shows Saskatchewan had just 1.8 months of inventory for apartment units at the end of the second quarter, down from 2.7 months a year earlier.
Months of inventory measures how long it would take to sell the homes currently listed if homes continued selling at the current pace. Fewer months of inventory can mean buyers have fewer homes to choose from.
Toronto Condos Are Still Below Last Year
Toronto is moving in the other direction, especially when it comes to condos. TRREB reported 4,783 GTA condo apartment sales in the second quarter of 2026, which was actually an 8.8% increase from the same period last year. So, buyers are returning to the market, but prices have not caught up.
The average GTA condo price was $634,972 in Q2 2026, down 7.5% from $686,387 a year earlier. In the City of Toronto, the average price was $667,916, compared with $717,403 in Q2 2025. That means Toronto’s condo market is seeing more sales while prices remain lower.
The same report also found that new condo listings fell 19% year over year, while active listings were down 15.4%. This suggests the market is starting to tighten. However, buyers still have plenty of choice and negotiating power compared with a year ago.
Why Are the Two Markets So Different?
One major difference is supply. Saskatoon has had a much tighter housing market this year. CREA’s Saskatchewan data shows apartment inventory at 1.8 months in Q2 2026, down from 2.7 months a year earlier.
Toronto has had a much larger supply of condos available for buyers. While active listings have fallen in Toronto, there were still 8,061 active condo listings across the GTA at the end of Q2. Buyers also continued to have negotiating power because the number of homes available was still high compared with sales.
Affordability is another factor. Saskatoon condos remain much less expensive than condos in Toronto. That lower price point can make it easier for buyers to enter the market, especially when borrowing costs remain a concern. Toronto buyers, on the other hand, are still dealing with much higher home prices.
What This Means for Condo Buyers and Sellers
For Saskatoon condo owners, the 8.7% increase in price per square foot is a sign of strong demand and limited supply. But it does not mean every condo has increased by exactly 8.7%.
Price per square foot can change based on the types, sizes and locations of homes that sell. It is best used as one measure of market conditions rather than a guarantee of what an individual condo is worth.
Toronto is also more complicated than simply saying condos are “down.” Sales increased in Q2, while new and active listings declined. Prices, however, remained below last year’s levels. That creates a market where buyers may have more negotiating room than they did during the pandemic-era boom, while sellers are facing a very different pricing environment.
For both cities, the takeaway is the same: the Canadian condo market is not one market.
Saskatoon condos are seeing rising prices per square foot and tight supply. Toronto condos are seeing stronger sales but prices that remain below 2025 levels.
As 2026 continues, the gap between these markets is a reminder that national housing headlines do not always tell the full story. Local supply, demand, affordability and property type can make a major difference in what buyers and sellers experience.
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