Toronto’s real estate market had been a continuous roller coaster throughout 2017 but the thing that was same: the demand for condos in the city outpaces the supply.
According to Zoocasa, a full-service real estate brokerage, data from the Toronto Real Estate Board (TREB) shows that “while condo sales softened 7.5% over the 2017 calendar year, price growth outstripped that of all other home types, increasing 23% to an average price of $545,826.”
Despite the significant drop in the detached home sales approx. 23%, the price growth increased by up to 13.4% in the same time period.
However, when 2017 ended, the average houses in Toronto still showed the high price values which according to Zoocasa correlate with the condo demand.
The increase in demand has elevated the price of resale family homes massively, and price of the new arrivals in the real estate market of Toronto approached $1,000 per sq. ft. this past fall.
According to Zoocasa, based on the 2017 numbers from TREB, following 12 condos in the downtown region have increased their price tags with $1,000 (or more) per sq. ft.
Also, these building belongs to the areas of Yonge Street and University Avenue neighborhood.
To carry out the survey of the most expensive condos buildings in Toronto, Zoocasa analyzed 600 building to know the average price per square foot in 2017.
In 2017, buildings having five sold units were included in the survey.
U Condos, 65 St Mary St/1080 Bay St – $1,319
Four Seasons Residence, 55 Scollard St – $1,296
One Bedford, 1 Bedford Rd – $1,231
Karma Condos, 15 Grenville St $1,121
Residences of the Ritz Carlton, 183 Wellington St W – $1,076
Pears on the Avenue, 170 Avenue Rd – $1,062
The Prince Arthur, 38 Avenue Rd – $1,040
Shangri-La, 180 University Ave – $1,040
Theatre Park, 224 King St W – $1,038
Murano, 38 Grenville St – $1,013
Nicholas Residences, 75 St Nicholas St – $1,012
Aura, 386-388 Yonge St – $1,004
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