Toronto Condo Prices at major intersections

Condo prices around Toronto’s key intersections – 2017

In Canada by TheRedPin7 Comments

Toronto Condo Prices at major intersections


TheRedPin charted condo prices at 25 major Toronto intersections. On average, condos at these street corners sold for $667,000 – 22 per cent more than the city-wide average.


What do you prioritize most in your condo search?

Are you a budget-sensitive buyer who’s diligently on the hunt for the least expensive condos on the market? Or an investor, digging through the price per square foot of apartments in order to spot where you can get the most bang for your investment buck?

If it’s location that trumps all else in your mind, and it’s your goal to buy a high-rise apartment steps from everything downtown (or midtown) Toronto has to offer, we’ve created an extremely useful map to highlight how much that’ll cost you.

Below, TheRedPin charted condo prices at just over two dozen of Toronto’s busiest and most walkable intersections and thoroughfares in neighbourhoods from The Fashion District to Yonge and Eglinton.

 [Map] Condo prices at major Toronto intersections

View full screen map

Our analysis, which looked at prices block-by-block rather than by neighbourhood, measured the average cost of one-bedroom and two-bedroom units that sold around 25 key Toronto street corners between January and August 2017.

The intersections we focused on experience among the highest levels of pedestrian traffic in the city, and while most have a subway station at their feet, a handful that we looked at (King and Spadina, for example) don’t.

  • Key Findings

One-bedroom apartments dominate these street corners, as around 56 per cent of condos featured one bedroom while roughly 30 per cent of units included two bedrooms. This varies ever-so-slightly from the trend seen across the city, where one and two-bedroom units make up 50 per cent and 43 per cent of the market respectively.

In terms of prices, it’s anything but surprising to find that units anchoring these coveted street corners carry higher price tags. We found that you can expect to pay between 22 to 23 per cent more, on average, for units in these intersections than the city-wide average.*

One-bedroom units around these major intersections sold for over half-the-million-dollar mark at $545,000. Two-bedrooms boasted a significant premium at $925,000, likely in large part due to the fact many high-end units fall in this category.

Along with calculating average sold prices, we also looked at median prices, which is a more middle-of-the-road assessment that’s far less prone to being skewed by pricier luxury properties. Median sold prices were $519,000 and $847,000 for one and two-bedroom condos respectively. 

  • The Condo Market

While, historically, detached home prices led the pack in terms of price appreciation, 2017 has seen a clear shift in favour of condo apartments.

When tracking prices between January to August 2017, we found the average sold price of detached homes in Toronto increased 19.8 per cent year-over-year. On the other hand, average condo apartment prices jumped 24.8 per cent – a huge leap that’s notably different from the trends of previous years, when high-rises experienced more modest single-digit annual increases.

However, it’s worth noting the Toronto housing market has experienced a short-term slump since April and while condominium apartments have weathered the market blip far better than detached properties, a drop has still occurred. Average condo prices in August were down 6.5 per cent from earlier this year in April, while sales have tumbled 31.2 per cent.

Prices based on sales between January 2017 to August 2017.
Stats encompasses condos within a 0.25km  radius of each intersection
There is some overlap of condos between nearby major intersections
Information presented is deemed reliable, but is not guaranteed accurate by TheRedPin

Comments

    1. Author
      TheRedPin

      Hi Carl,

      Thanks for contributing to the comments section!

      We know the notion that property prices climb higher the closer they are to a major intersection can often be met with a few “well duh, water is wet” responses. Yet, rather than simply agree that properties at these key nodes are more expensive, we wanted to address the question of exactly how much more and spot if there are any major street corners where you can possibly nab a deal.

      If you’re interested in looking at the market from a different perspective, we also broke down which suburbs are the best for commuting to downtown Toronto. Click here to read.

      Thanks again for adding to the discussion Carl.

      Best,

      TheRedPin

    1. Author
      TheRedPin

      Hi Vien,

      We’re sorry if you’re having trouble finding the intersections.

      If you scroll midway through the post, there is a map that visualizes how much average condos sold for by street corner.

      We’ve also listed average prices for 1 beds and 2 beds by intersections below.

      Yonge and Eglinton
      1 Bed: $507,899
      2 Bed: $735,771

      Bay and Dundas
      1 Bed: $490,272
      2 Bed: $693,062

      Yonge and Dundas
      1 Bed: $503,829
      2 Bed: $658,234

      Carlton and Yonge
      1 Bed: $602,323
      2 Bed: $903,275

      Queen and Yonge
      1 Bed: $371,444

      Adelaide and Bay
      1 Bed: $505,014
      2 Bed: $1,004,138

      King and Yonge
      1 Bed: $491,203
      2 Bed: $962,182

      Bloor and Yonge
      1 Bed: $570,058
      2 Bed: $913,443

      Bay and Bloor
      1 Bed: $626,989
      2 Bed: $1,542,568

      St. Clair and Yonge
      1 Bed: $471,380
      2 Bed: $882,006

      University and York
      1 Bed: $579,413
      2 Bed: $942,000

      Adelaide and Yonge
      1 Bed: $471,910
      2 Bed: $876,500

      Gerrard and Yonge
      1 Bed: $540,977
      2 Bed: $910,695

      Bay and King
      1 Bed: $494,591
      2 Bed: $1,557,500

      Dundas and University
      1 Bed: $492,523
      2 Bed: $758,844

      Bay and College
      1 Bed: $576,749
      2 Bed: $829,801

      John and Queen
      1 Bed: $524,810
      2 Bed: $760,462

      Wellesley and Yonge
      1 Bed: $544,927
      2 Bed: $756,817

      Bay and Queen
      1 Bed: $502,300
      2 Bed: $819,683

      Avenue and Bloor
      1 Bed: $753,735
      2 Bed: $1,346,615

      Front and John
      1 Bed: $613,730
      2 Bed: $1,318,594

      University and Wellington
      1 Bed: $588,236
      2 Bed: $942,000

      King and Jarvis
      1 Bed: $518,694
      2 Bed: $831,585

      King and Bathurst
      1 Bed: $533,162
      2 Bed: $986,873

      King and Spadina
      1 Bed: $540,153
      2 Bed: $860,149

      Best,

      TheRedPin

  1. Kuntal

    Hi,

    Could you please tell us the price of 2 bedroom condo at King and Dufferin?

    Thanks,
    kuntal

    1. Author
      TheRedPin

      Hi Kuntal,

      Thanks for reaching out to TheRedPin!

      Between January to August of this year, the average price of two-bedroom condos immediately around King and Dufferin (0.25km radius/3-minute walk) was $543,750.

      If you’d like to learn more about the condo market around King and Dufferin, please reach out to us at inquiry@theredpin.com or call 647-827-1075.

      Best,

      TheRedPin

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