condo price toronto

Average price of a condo in Toronto passes $500K

Toronto's real estate market might be cooling, but prices remain high as ever, especially since homes continue to sell well over asking. But how are things looking for condos?

According to a new report from the Toronto Real Estate Board (TREB), which looked at the GTA condo market during the second financial quarter (April to June) of 2017, the average selling price for condos has increased a whopping 28 percent since last year.

The average selling price in Toronto was $566,513, whereas in the GTA it was $532,032.

While prices went up, sales were actually down 8 percent since 2016. However, the TREB says in comparison to the overall housing market, the condo market remained "resilient." Condo listings were also up, but just slightly.

"Recent consumer survey results from Ipsos suggest that condominium apartments will continue to gain in popularity with home buyers over the next year," said the TREB's director of market analysis Jason Mercer in a news release.

"This makes sense given that many households, especially first-time buyers looking to live in the City of Toronto, have turned their attention in increasing numbers to less expensive forms of ownership housing."

Lead photo by

Jeremy Gilbert


Join the conversation Load comments

Latest in City

The top 10 places to see fall foliage in Toronto

Toronto's most famous pet store and aquarium just reopened

People are criticizing Ford for celebrating a new university amid cuts to education

Canada's population could nearly double over the next 50 years

Ontario wasted over $10 million on weed shops that didn't open

It's going to feel like 33 C in Toronto this weekend

Toronto is furious after another commuter was hit while exiting a streetcar

Toronto might be getting a gender equity office