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


Latest Videos



Latest Videos


Join the conversation Load comments

Latest in City

Video shows passengers evacuating Delta plane after crash at Toronto airport

Delta plane flips over in crash at Pearson airport in Toronto

Homes taken over by Metrolinx for new Toronto subway will soon be demolished

What's open and closed on Family Day 2025 in Toronto

Gardiner Expressway construction faces new hiccup with upcoming lawsuit

Law-breaking Toronto driver stopped by cops during live news broadcast

Second Toronto storm could bring another 30 cm of snow

Toronto is about to make it a lot easier to visit the Scarborough Bluffs