Canada condominium price index update covers nine metro markets in third quarter

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Canada Condominium Price Index Q3

Highlights

Statistics Canada released the New Condominium Apartment Price Index (NCAPI) for Q3 2026, tracking developer prices for new apartment-style condominium units.
The NCAPI standardizes prices to a per-square-foot basis and applies quality adjustments, reflecting constant-quality price changes across nine major Canadian metro areas.
The index is published quarterly, covers a composite of nine major markets, and is subject to one-quarter revisions and not seasonally adjusted, affecting comparability over time.

Third-quarter index methodology and market coverage

As reported by Statistics Canada, the New Condominium Apartment Price Index, or NCAPI, is available for the third quarter of 2026 and measures changes over time in developers' selling prices for newly built apartment-style condominium units.

The index applies to units whose detailed specifications remain comparable between two consecutive periods. It is calculated using a unit-value approach that standardizes a unit's price by its square footage to produce a price per square foot, with quality adjustments made before those unit prices are calculated so the series reflects constant-quality changes.

The NCAPI is published quarterly and includes Halifax, Montréal, Québec, Ottawa-Gatineau on the Ontario side, Toronto, Calgary, Edmonton, Vancouver and Victoria. It also includes a composite index covering all nine census metropolitan areas.

Implications for housing market monitoring

The release adds to the set of indicators used to follow pricing conditions in Canada's new housing market, particularly in the condominium segment where unit size and specifications can affect headline price comparisons. By expressing values on a per-square-foot basis and adjusting for quality, the index is designed to give a more comparable view of underlying price movement across periods.

Statistics Canada says the NCAPI has a one-quarter revision period and is not seasonally adjusted. That means the latest figures can be updated in the following quarter, while users need to account for normal seasonal variation when comparing results over time.

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