GTA home prices have taken a tumble in recent months, with one notable exception — condos. As buyers struggle to afford still-pricey detached homes, condos offer a comparably affordable option for those looking to get into the market.
Condo prices were up 10 per cent year-over-year in February, and are widely expected to continue to rise in the coming months.
“Expect stronger price growth to continue in the comparatively more affordable townhouse and condominium apartment segments,” writes Toronto Real Estate Board director of market analysis Jason Mercer. “This being said, listings supply will likely remain below average in many neighbourhoods in the GTA, which, over the long-term, could further hamper affordability.”
While the average price for an average GTA condo is still below $1,000 per-square-foot, some downtown condos have already crossed that threshold. According to a new report from Zoocasa, 12 buildings are currently selling above that lofty number.
To find them, Zoocasa examined 600 condos within the city limits, and included those with a minimum of five transactions in 2017.
For those curious about Toronto’s priciest condo buildings, here they are: