In This Housing Market, it is Smarter to Buy in the Suburbs

Posted Sunday, May 4th, 2025 | 149 views

According to Urbanation’s April 2025 report, the Greater Toronto and Hamilton Area (GTHA) has just recorded the slowest quarter for new condo sales in over 30 years. That’s a long time, and very significant.

Developers pulling back, projects are getting cancelled, and unsold units are stacking up which is making buyers understandably cautious. This shift in the city’s housing dynamic is a big concern and a loud signal.

More than any time in the past 30 years, people are starting to look more beyond the cities for a home, and that spotlight is landing squarely on suburban and rural communities like Norfolk and Haldimand Counties.

Ontario’s Condo Market Has Hit a Wall

The numbers are striking in the GTA alone. Let’s look at the numbers:

• Only 533 new condo sales occurred in Q1 of 2025 which is down a shockingly 62% from last year, and is 88% below the typical 10 year average.
• The un-sold inventory is now sitting at over 24,000 units, with a whopping record-setting 78 months of extra supply
• Developers have pulled 5,700+ units from the market since 2024, with some going into the rental market and others being simply abandoned.
• New construction starts have basically collapsed, and have fallen to their lowest since 1996.

Buyers who were promised new units are now facing delays and cancellations, while prices remain out of step with buyer expectations, and developers are offering heavy incentives just to move inventory. According to Urbanation:

“The new condo market is currently working through its most challenging period to date, which has become further impacted by the uncertainty and cost escalations caused by the trade conflict with the U.S.” Source

This shift has led many buyers to explore suburban communities, with areas like Cayuga offering attractive alternatives.

Suburbs Offer Stability and Homes You Can Actually Move Into

While the condo market falters under the weight of uncertainty, the suburban market is holding steady. That’s because buyers looking in places like Norfolk and Haldimand, aren’t chasing investment flips. They’re looking to build a life and they want homes they can actually afford and move into.

It’s a trend supported across Ontario, where many families are finding that buying a home to live in still offers long-term financial and lifestyle advantages.

Here’s why the suburbs are gaining ground in the current housing market:

• More house for your money, with full-sized lots and no extra condo fees.
• Fewer construction delays, especially when working with reliable builders.
• Real neighbourhoods and community growth, not just towers and traffic.
• Greater long-term stability because suburban housing markets tend to be less affected by investor speculation and more focused on real owner-occupiers.
• Lower carrying costs, including insurance, utilities, and taxes, which make monthly expenses more manageable for families.
• Lots of room to grow with basements, backyards, and multi-bedroom layouts that support evolving family needs.
• A closer connection to nature and quiet, without giving up access to schools, shops, and essential services.

The GTA’s Loss is the Suburbs’ Gain

For years, downtown Toronto absorbed the bulk of housing growth through vertical condo development. But now that this model is slowing – and likely won’t rebound quickly due to cost pressures and market hesitancy – buyers are looking elsewhere, and that’s in the suburbs.

With remote work, hybrid schedules, and rising urban costs that have changed priorities, people are asking:

• Why wait three years for a delayed condo when I can move into a brand-new home now?
• Why pay $1,300/sq. ft. downtown when I can own a detached home at a lower cost and actually live in it?
• Why sacrifice space and privacy for the sake of a city address when my lifestyle no longer depends on it?
• Why deal with condo boards, elevators, and monthly fees when I could have a backyard and a driveway?
• Why compete in an overcrowded and uncertain market when communities like Cayuga and Simcoe offer real value and stability?

These are the kinds of questions going on in lots of buyer’s minds, and are driving people to take a serious look at where they want to live and spend their money. 

Norfolk and Haldimand are Positioned for Growth and Ready for Living

Norfolk and Haldimand Counties are not speculative markets. They’re communities where people live, raise families, and grow roots. These areas now represent some of the most attractive alternatives for buyers who are priced out or fed up with big-city uncertainty.

With strong infrastructure, expanding amenities, and a slower, more easy going pace, the suburbs are a smarter, more secure choice.

You Don’t Need to Gamble on City Living

If you’ve been watching the condo market in the GTA and are wondering when the tide might turn, the answer is probably not anytime soon. It seems that the situation will only get worse before it gets better. Between high unsold inventory and construction bottlenecks, the urban market is dealing with major challenges and it’s safer for buyers to outside of the city for a home.

In Norfolk and Haldimand, you don’t have to wait. You can choose a home, meet your builder, and move forward without the delays, uncertainty, and inflated price tags.