This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies. More information

Downtown Toronto Condos

2016 2nd Quarter Real Estate Report

Including: Toronto Waterfront West, Business and Entertainment, Financial District, Bay Street Corridor

Downtown Toronto   2016     2015   Difference
Sales   1,306     897   + 35%
Average Price   $518,181     $500,213   + 4%
New Listings   2,166     1,960   + 11%
% of Final Sales Price to Listing Price   98%     98%   + 0%
Days on Market   26     29   - 10%
  Sales Average Price New Listings Days on Market % Sold Price vs. Listing Price
University 39 $474,000 67 41 98%
Bay Street 332 $614,000 545 29 98%
Waterfront 935 $,486,000 1,554 23 99%


We saw another very strong Downtown Toronto condo market in the 2nd quarter of 2016. Sales this quarter were up by 35% to over 1,300 sales a difference of more than 400 sales in the same period in 2015. The average price continued to grow up 4% (over $515,000) compared to the same period in 2015. One of the most interesting points in this quarter was how new listings grew by 11% over last year. We have rarely seen this kind of increase over the past few years. One reason was there was a great deal of movements by the investors selling their newly registered units. So inventory continues to be strong, sales are good and prices have risen. This paints a great picture for the rest of 2016.

Another reason that the market will remain strong is that we are seeing 98% of the final sales price to the listing price. This shows that the market remains healthy. Condos are selling within a month. It's proving if the agent prices the condo at market value the suite moves quickly.

I will be very curious to see what the 3rd quarter brings as we have a few new buildings having their VIP sales days but, I don't see this affecting the resale market as the prices over the past 18 months have been stronger in resale. Downtown still has pockets that are offering units under $600 though we are seeing the average sit low to mid 600's per square foot. Down from a few years ago but still very strong in this climate.

adminlistingsprivacy policycontactsite map
Downtown Toronto Condos | Bay Street Condos | Queens Quay Condos |
Luxury Condos Downtown Toronto | Condos for Sale Downtown Toronto

Find me on Google+

View Larger Map

Nadine Robbins, Sotheby's International Realty Canada
1867 Yonge Street, Suite 100
Toronto, ON, M4S 1Y5
(416) 878-6860

Copyright © 2002-2019. All rights reserved.
Real Estate Internet Marketing by Lone Wolf Technologies.
Lone Wolf Technologies