Condo prices are down, courtesy of COVID-19 and the lockdown that followed. In some neighborhoods the prices have dropped over $100,000. The market is perfect for buyers right now, however with the lockdown being slowly lifted with Phase 1 schedule for early June, this window of opportunity might be closing soon. Here is a detailed breakdown by neighborhood.
Toronto Neighbourhoods with the Largest Declines in Median Condo Apartment Prices
Based on neighbourhoods with at least 10 condo apartment sales in April 2020.
1. C10 – Mount Pleasant East
Condo apt median price, Apr 2020: $617,500
Condo apt median price change from Feb 2020: -$131,500 (-18%)
Condo apt sales, Apr vs. Feb 2020: 16 vs. 37 (-57%)
2. C08 – Regent Park, St. James Town, Corktown
Condo apt median price, Apr 2020: $611,600
Condo apt median price change from Feb 2020: -$103,400 (-14%)
Condo apt sales, Apr vs. Feb 2020: 74 vs. 127 (-42%)
3. C14 – Newtonbrooke East, Willowdale East
Condo apt median price, Apr 2020: $597,950
Condo apt median price change from Feb 2020: -$85,050 (-12%)
Condo apt sales, Apr vs. Feb 2020: 28 vs. 70 (-60%)
4. C07 – Willowdale West, Lansing-Westgate
Condo apt median price, Apr 2020: $580,000
Condo apt median price change from Feb 2020: -$70,000 (-11%)
Condo apt sales, Apr vs. Feb 2020: 11 vs. 57 (-81%)
5. C01 – Downtown, Entertainment District, CityPlace, Trinity-Bellwoods
Condo apt median price, Apr 2020: $677,500
Condo apt median price change from Feb 2020: -$60,500 (-8%)
Condo apt sales, Apr vs. Feb 2020: 106 vs. 330 (-68%)
