Photo: Grant MacDonald/Flickr
Despite a skyline crowded with construction cranes, the condo isn’t king when it comes to GTA home sales. From January to June 2014, the Toronto Real Estate Board counted 48,758 resales in the region and detached houses made up 24,071 or just under half of all the transactions.
The average sale price for a detached house in the GTA was $718,679 for the first half of the year. If that amount causes a beyond-your-budget tightness in the chest, consider these numbers: 4,138 stand-alone houses were sold in the GTA with a price tag between $500,000 and $599,999, the most frequently occurring price range. The second most common price range was even lower, with 3,907 detached houses selling between $400,000 to $499,999.
Still behind the perennially popular low-rise detached home, transactions for condo apartments numbered 11,006, making them the second most common property type to be sold in the first half of the year. Condo apartments accounted for about 22.6 per cent of all sales for the first half of 2014 and the most common price points fell between $200,000 to $299,999 and $300,000 to $399,999 respectively.
Despite all the ads for luxury suites, 73 per cent of GTA condo sales this year were below $400,000. On the flip side, sales of suites priced $1 million or more totaled 160, or a 1.45 per cent slice of all condo transactions.
We also looked into semi-detached houses, condo townhouses and other attached properties to get a better sense of what GTA buyers were mostly likely to pay when getting the keys to a home. Check out our interactive bubble charts below for all the details:
