The average condo price in Toronto is approximately $660,000–$700,000 in 2025 for the City of Toronto proper. That average covers a wide range: studio units under $500,000 in outer Toronto, 1-bedroom units that form the bulk of the market, 2-bedroom condos approaching $1,000,000 in desirable buildings, and premium penthouses well above $1,500,000. For buyers planning a condo purchase in Toronto, the unit type, building, and neighbourhood matter more than the citywide average.
Toronto's condo market is one of the largest in North America. TRREB data shows consistent annual condo transaction volumes in the thousands — far higher than comparable US cities. The supply of new condos entering the market through builder completions is ongoing, which creates a specific dynamic: existing condo resale competes directly with new inventory from the same towers or nearby buildings.
Average Condo Price by Unit Type in Toronto
| Unit type | Typical size | Average price range (Toronto, 2025) | Monthly maintenance fee range |
|---|---|---|---|
| Studio / bachelor | 350–500 sq ft | $430,000–$550,000 | $400–$700 |
| 1-bedroom | 500–700 sq ft | $550,000–$720,000 | $450–$750 |
| 1-bedroom + den | 620–800 sq ft | $640,000–$830,000 | $500–$800 |
| 2-bedroom | 750–1,100 sq ft | $820,000–$1,100,000 | $600–$1,100 |
| 3-bedroom / penthouse | 1,100 sq ft+ | $1,100,000–$2,000,000+ | $900–$2,000+ |
Average Condo Price by Toronto Neighbourhood
Condo prices in Toronto vary significantly by location. The most expensive condos are in the downtown core (King West, Yorkville, Bloor/Yonge) and midtown (Yonge/Eglinton). The most affordable are in outer Toronto communities — Scarborough, north Etobicoke, and parts of North York away from the Yonge corridor.
Downtown Core (King West, Entertainment District, Distillery): 1-bedrooms run $620,000–$780,000. 2-bedrooms run $900,000–$1,200,000. Premium buildings with brand-name amenities push above these ranges.
Yorkville / Bloor-Yonge: Toronto's most prestigious condo market. 1-bedrooms at $800,000–$1,100,000. 2-bedrooms at $1,100,000–$1,800,000. Boutique buildings with concierge and hotel-level finishes.
Midtown (Yonge/Eglinton): 1-bedrooms at $600,000–$750,000 in newer towers along Yonge and Eglinton. The Eglinton Crosstown LRT has driven new condo development in this corridor.
East End (Leslieville, Riverside): Fewer condo towers, more boutique mid-rise buildings. 1-bedrooms at $580,000–$720,000. Tends to attract buyers who want walkable neighbourhoods over amenity-heavy towers.
North York (Yonge, Sheppard to Finch): 1-bedrooms at $530,000–$680,000. Subway access (Line 1) keeps demand steady. Good value relative to downtown for similar transit access.
Humber Bay Shores / Etobicoke Waterfront: Lake views drive premium pricing. 1-bedrooms at $580,000–$720,000. 2-bedrooms at $780,000–$950,000. Newer buildings with modern finishes and waterfront amenities.
Scarborough: Most affordable condo market in Toronto. 1-bedrooms at $450,000–$600,000. Good transit connections at Kennedy and Scarborough Centre. Value-focused buyers who want City of Toronto ownership find Scarborough compelling.
What Buyers Often Miss About Toronto Condo Costs
The purchase price is only part of the total cost of owning a Toronto condo. Monthly maintenance fees cover building insurance, common area maintenance, heat (in some older buildings), and amenity costs. These fees range from $400/month in a lean mid-rise to $1,200+/month in a full-amenity high-rise. Over a 10-year hold, $600/month in maintenance fees adds $72,000 in cumulative cost — a real factor when comparing buildings.
Toronto's double land transfer tax also applies to condo purchases. On a $700,000 condo, combined Ontario LTT ($9,475) and Toronto MLTT ($9,725) total approximately $19,200. First-time buyers receive rebates on both — up to $8,475 combined — reducing net tax to approximately $10,725. Our guide on the Toronto MLTT explains the full calculation. First-time buyer programs and benefits are covered in our guide on first-time home buyer benefits in Ontario.
Status certificate review is critical before any condo offer. The status certificate — a package of financial and legal documents about the condo corporation — reveals the reserve fund balance, any pending special assessments, and the building's financial health. A lawyer should review the status certificate before you waive conditions. A special assessment of $15,000–$50,000 per unit is not uncommon in older buildings with deferred maintenance.
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FAQ
Is the average condo price in Toronto going up or down?
Toronto condo prices peaked in early 2022, corrected through 2022–2023 as interest rates rose, and have been relatively flat since. In 2025, condo prices in Toronto are modestly below 2022 peaks for many unit types, particularly 1-bedroom condos in high-supply downtown towers. Demand has recovered but new supply completions continue to moderate appreciation. TRREB monthly reports are the best current data source.
Are Toronto condos a good investment in 2025?
Toronto condos have appreciated over long periods, but they've underperformed freehold properties. New supply entering the market in the same corridors compresses resale values for existing units. High maintenance fees and the Toronto double land transfer tax reduce net returns. Condos are a viable entry into the market for buyers who can't yet afford freehold — but they're not the investment vehicle they were marketed as in the pre-2022 period. See our broader take on buying a home in Toronto.
What should I look for when buying a condo in Toronto?
Prioritize the status certificate review, reserve fund health, building age, maintenance fee-to-unit ratio, and management company reputation. Avoid buildings with pending special assessments, weak reserve funds (below 70% of recommended levels), or multiple investor-owned units (above 70% non-owner-occupant ratios). Work with a buyer's agent who can pull comparable sales and flag buildings with known issues.
How do I get pre-approved for a Toronto condo purchase?
The pre-approval process for a condo is the same as for any property — lender reviews income, credit, and debt. The difference is that some lenders adjust stress test calculations based on maintenance fee amounts (they add 50% of the monthly maintenance fee to your debt service ratio). A high maintenance fee building reduces your qualifying purchase price. Our guide on how mortgage pre-approval works covers the process.
What is the Toronto condo market like for first-time buyers?
First-time buyers in Toronto most commonly enter the market through a studio or 1-bedroom condo. With the CMHC mortgage insurance available (minimum 5% down, purchase price under $1,500,000), a 1-bedroom at $600,000 requires $30,000 down plus closing costs of $18,000–$22,000 (including combined LTT after first-time buyer rebates). Total cash needed to close: $48,000–$52,000. Income required to qualify: approximately $100,000–$115,000 household income. See first-time condo buying in Toronto for the full breakdown.