A brand new report says properties valued beneath $500,000 are taking on a much bigger share of Ontario’s actual property panorama, led by a shift within the condominium market.
New knowledge launched by the Municipal Property Evaluation Corp. exhibits these lower-valued properties now account for almost 24 per cent of Ontario’s actual property market, up from 17 per cent in 2022.
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Regardless of that enchancment, which MPAC says alerts “a rebalancing within the housing market,” the report notes the share of properties priced under $500,000 remains to be properly under that of a decade in the past after they made up 67 per cent.
The group’s chief assessor and knowledge officer Greg Martino says the previous decade has reshaped Ontario’s housing market and that whereas costs stay elevated, there have been corrections from peak situations.
Condos account for a lot of the current uptick in affordability, with 46 per cent of that housing phase valued beneath $500,000 in 2026, up from 24 per cent simply 4 years in the past.
The report notes different housing sorts stay much less accessible, as simply 5 per cent of townhouses are valued beneath $500,000 right this moment, down sharply from 69 per cent in 2016. For semi-detached properties, 15 per cent are valued beneath $500,000, down from 52 per cent in 2016.
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