GTA Condo Market Pulse© January 2024

In January, the average price of condominiums in the Greater Toronto Area decreased by 1% year-on-year, while transaction volume surged by 41%.

Looking at different regions, the average price of Condos in Toronto remained stable compared to the period last year. Within Toronto, the Condo prices in the Downtown area decreased by 8%, while those in Etobicoke increased by 6%. Prices in the Midtown Toronto, North York, and Scarborough decreased by 1%, 3%, and 2%, respectively. The transaction volume for Condos increased significantly in all areas of Toronto.

In the surrounding cities of Toronto, the average prices of Condos showed mixed trends. Richmond Hill saw a 1% increase, while Condo prices in Vaughan dropped by 8%, and Mississauga experienced a 5% decrease. Conversely, the average prices in Markham increased by 5%, with a substantial year-on-year increase its transaction volume.

2024 Greater Toronto Area Condo New Year’s List©

In 2023, the average price of condo apartments in Greater Toronto Area was $730,000, experiencing a yearly decline of 4.9%.

Our analysis of GTA condo apartments primarily focuses on Toronto City and its surrounding areas including Markham, Richmond Hill, Vaughan, Mississauga, and Oakville. In 2023, the most expensive condos were found in the downtown Toronto C12 Bridle Path area, with an average price ranking first at $1.6 million, and an astonishing 25% yearly increase. The C09 Rosedale area in downtown ranked second in GTA with an average condo price of $1.45 million, showing an 18% yearly increase. This achievement amidst the general decline across various property types in the 2023 Greater Toronto real estate market was indeed remarkable.

On the Condo quadrant chart, the C12 and C09 areas stand out like two shining stars in a distant galaxy, proudly rising despite their low transaction volumes. These areas gleam brightly, distinct and exceptional amidst the crowd.

In 2023, the highest-priced Condo transaction in GTA occurred in the Bridle Path, with a price exceeding $7 million. The wealthy inhabit their own world with its unique mindset, where their existence is deemed reasonable. This has implications for the common majority.

GTA top1% realtor Daisy Huang presents【Fly-over heatmap analysis of Condo prices in the Greater Toronto Area for the year of 2023】
GTA top1% realtor Daisy Huang presents【Price vs YoY change% quadrant analysis for Condos in the Greater Toronto Area】

GTA Condo Market Pulse© November 2023

In November, the average price for Condo apartments in the Greater Toronto Area remained flat compared to the same period last year, with a corresponding 6% year-on-year decrease in transaction volume.

When looking at different cities, the average price for Condos in Toronto decreased by 2% year-on-year. Specifically, in Midtown Toronto, the average price for Condos decreased by 8% year-on-year, while in Etobicoke, the average price for Condos increased by 5% year-on-year.

In the surrounding cities of Toronto, the year-on-year changes in average prices for Condos varied with both increases and decreases, and the magnitudes of these changes were in the single digits.

GTA top1% realtor Daisy Huang presents【GTA condo market update November 2023】

GTA Condo Market Pulse© October 2023

In October, the average price for condos in GTA showed a slight year-on-year decrease of 1%, with the transaction volume also experiencing a small contraction of 2%.

When looking at different cities, the average price for condos in Toronto decreased by 2% compared to the same period last year. Within Toronto, the condo average price in Midtown surged by 16%, while the downtown and Scarborough areas experienced a year-on-year decrease of 9%.

In the surrounding cities of Toronto, the average prices for condos showed mixed trends year-on-year, but the changes were marginal.

GTA top1% realtor Daisy Huang presents【GTA condo market update October 2023】