For condo owners hoping to move up to a bungalow, 2026 is a mixed picture. In September the average GTA condo sold for $605,257, down 7.7% from a year earlier, while the average detached home sold for $1,292,016, down 5.1%. The dollar gap between the two has narrowed slightly, but condo owners have lost more equity in percentage terms and condos are taking longer to sell. Here is how to think it through.
Key takeaways
- The gap between the average GTA condo and detached home is about $687,000.
- A year ago it was roughly $706,000, so it has narrowed by around $19,000.
- The average condo is worth about $50,000 less than a year ago.
- Bungalows outside the core GTA sell for far less than the detached average.
- Selling the condo is the harder half of the move right now.
The numbers, side by side
| September 2025 (approx.) | September 2026 | |
|---|---|---|
| Average condo apartment | $655,800 | $605,257 |
| Average detached home | $1,361,400 | $1,292,016 |
| Gap | $705,600 | $686,759 |
The 2025 figures are worked back from the year-over-year changes reported by the Toronto Regional Real Estate Board, so treat them as approximate. These are averages for all detached homes across the GTA. Many bungalows, especially in Durham, Simcoe, Hamilton and Niagara, sell for well below that average.
What this means in practice
The move-up gap is a little smaller, which helps. But your down payment comes from your condo’s equity, and that has taken the bigger percentage hit. If you bought your condo near the 2022 peak with a small down payment, check your numbers carefully before you list.
Owners who bought years ago are in a different position. They still have substantial equity, and they are buying a house at a discount to last year.
Five ways to make the move work
- Get a realistic condo valuation. Use sales from the last 60 days in your own building, not the list prices of units that are sitting.
- Look beyond the average. A bungalow in Oshawa, Barrie or Hamilton can cost several hundred thousand dollars less than one in Toronto. Our city market reports show current price ranges.
- Consider a bungalow with a suite. Rental income from a legal basement apartment can help you carry a larger mortgage.
- Line up the sale and purchase. With condos slower to sell, an offer conditional on your sale, or a long closing, reduces the risk of owning two properties.
- Compare monthly costs, not only price. You lose the condo fee but take on a roof, furnace, yard and higher utilities.
Monthly costs: condo vs bungalow
| Cost | Condo | Bungalow |
|---|---|---|
| Maintenance fees | Monthly fee, often several hundred dollars | None, but you pay for repairs directly |
| Utilities | Often partly included | All yours; higher for a detached home |
| Insurance | Unit policy only | Full home policy |
| Major repairs | Shared through the reserve fund | Your responsibility; budget 1% of value a year |
| Property tax | Lower on a lower-value unit | Higher |
Bungalow tip: Condo owners often adapt to a bungalow more easily than to a two-storey house. Everything is still on one level, with the bonus of a yard, a driveway and no elevator.
Should you wait for condo prices to recover?
Nobody knows when that will happen. If condos recover, houses are likely to rise too, and the gap in dollars could widen again. The useful question is whether the move works at today’s numbers with a payment you are comfortable with.
Frequently asked questions
Can I keep my condo as a rental and still buy a bungalow?
Possibly, if you qualify to carry both. Lenders count only part of the rental income, and you would need a separate down payment.
Are bungalows a good first house after a condo?
Yes for many buyers. They are simple to maintain and often have suite or expansion potential. See moving from a condo to a bungalow.
How do the two lifestyles compare?
Our bungalow vs condo guide covers the pros and cons in detail.
See what your budget buys
Browse bungalows for sale across Ontario and filter by price to compare areas.
This article is general information as of early October 2026, not legal, tax, mortgage or insurance advice. Rules and numbers change, so confirm the details for your situation with a licensed professional.
