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

Adorable sick coyote siblings rescued after caught eating from a bird feeder in Toronto

People in Toronto wondering what's inside 1962 time capsule outside a Loblaws

Queer community centres refuse to be threatened as lockdown continues in Toronto

Here's what Toronto's new artificial island looks like right now

Toronto tenants accuse property manager of freezing them in their apartments

People in Toronto travelling to other regions for haircuts despite pleas not to region-hop

The TTC is shutting down subway service between 8 stations all weekend long

Some parts of Ontario are already asking to be put back into full lockdown