The Collingwood condo market entered 2026 in a buyer-friendly position. Prices corrected through 2024-2025, inventory is up, and the frenzied multiple-offer environment is gone. The market is functioning normally again.
What Changed in 2024-2025
Ontario's condo market cooled fast. The GTA saw prices drop 4-9% as rising interest rates and oversupply hit Toronto's high-rise market. Some buyers who paid $750K in 2021-2022 struggled to sell for $650K in late 2024.
Collingwood didn't experience the same severity. Our market isn't driven by speculative investors—most buyers are end-users who actually live in their condos.
Current median condo price: $539K-$584K (down roughly 8-10% from 2022 peak)
Average days on market: 76 days (vs. 30-40 days during peak years)
Active inventory: 79-122 condos listed (higher than 2021-2022, but not a flood).
Market Reality Check: February 2026
Interest rates dropped through late 2025 (Bank of Canada cut to around 2.75%). Buyers are back, but they're selective. The "buy anything" mentality is over.
What's Selling Fast (30-60 Days)
- Downtown walkable buildings (Monaco, Benchmark, Esprit)
- Units with updated kitchens/bathrooms
- Buildings with healthy reserve funds
- Condos priced 3-5% below recent sales
What's Sitting (90+ Days)
- Units needing $30K+ in updates
- Buildings with condo fees over $0.75/sq ft without justification
- Overpriced listings at 2022 peak pricing
- Buildings with known issues (elevator problems, leaks, poor management)
Buyer Checklist: Use Your Leverage
You have negotiating power in 2026. Don't waste it.
Request Before You Offer:
✓ Full Status Certificate (100+ page document, not the summary)
✓ Last three years of AGM minutes
✓ Reserve fund study
✓ Rental cap status and current rental unit count
Negotiate On:
- Purchase price (3-5% below asking is reasonable)
- Closing costs (ask seller to cover legal fees)
- Closing date flexibility
- Inclusions (parking, locker, appliances)
Walk Away If:
- Condo fees rising 8-10% annually with no justification
- Reserve fund underfunded, special assessments likely
- Ongoing structural issues (water infiltration, foundation problems)
- Rental cap full and you need rental income to qualify
Seller Strategy: Price Right or Sit
Buyers have options now. Your unit needs to stand out.
Before Listing:
- Paint walls neutral colours
- Update tired kitchen hardware
- Replace worn carpets
- Declutter completely
- Hire a professional photographer
Pricing Strategy:
Price 3-5% below recent comparable sales to create urgency.
Don't chase the market down with multiple reductions.
Expect:
- 60-90 days on market is normal
- Buyer requests for inspections
- Negotiations on everything
- Questions about condo finances
Investment Buyers: Run Conservative Numbers
Don't Assume:
❌ Short-term rental income covers all costs
❌ Year-round occupancy at peak rates
❌ 10% annual appreciation
❌ Rental regulations won't change
Reality:
Some buildings cap short-term rentals. Competition is increasing.
Talk to current owners about actual rental income, not projected spreadsheet numbers.
The Bottom Line
Boutique downtown Collingwood condos with strong fundamentals will hold value better than average Ontario condos.
Why? Limited supply + real lifestyle demand.
If you're buying: Take your time. Inspect thoroughly. Negotiate firmly.
If you're selling: Price right. Present well. Be flexible.
The panic is over. That's better for everyone.
Ready to Buy or Sell a Condo?
Get a market consultation from Andrea.
Based on current data, not 2022 assumptions.
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Forest Hill Real Estate Inc., Brokerage
114 Ontario Street
Collingwood, ON, L9Y 1M3