For die-hard urbanites on the hunt for a condo in the heart of Canada's largest metropolis, the old real estate adage location, location, location means getting specific.
Really specific. Down to the street corner.
In the minds of many downtowners, Bloor is the cut off point and the idea of venturing even a few blocks north equates to abandoning city life and embracing the burbs; Bathurst is just too west while anything too east of Yonge is a subway desert.
So for Toronto condo seekers unflinching in their goal of living in the very core, TheRedPin has made it infinitely easier to track how much it costs to own a high rise across prime swathes of real estate in the city.
After compiling 24 of Toronto's key intersections - bustling pedestrian street corners that directly connect to transit, key retail destinations and condo hubs - we provided an overview of condominium prices within a five minute's walk of each.
Aside from calculating average sold prices, we factored in median prices as well, which offers a more middle-of-the-road assessment of the market that's less prone to being skewed by one-off luxury sales.
The study did encompass two intersections that sit well outside of the core in Toronto's midtown - Yonge & Eglinton and Yonge & St. Clair. Both experience among the highest levels of pedestrian traffic in the city, and were consequently included in the analysis.
Condo prices around Toronto's major intersections [Map]
Average prices for all 1 and 2 bed condos sold within a 5 minute's walk of the city's major intersections have been mapped out. To view median prices of units, simply click on the arrows under each pin.
Top Facts
- Overall, sold prices of 1 bedroom condos around Toronto's 24 major intersections averaged $433,823 (median: $413,912).
- Two bedroom condos carried a significant premium, selling for an average of $740,867 (median: $638,491).
- Based on the 24 intersections we analyzed, condos around Bay Street sold for an average of $41,000 more than units around Yonge.
- Bloor and Avenue was found to be the most expensive downtown intersection to own a condo, with 1 and 2 beds priced at $611,327 and $1,379,140 respectively.
While the findings show downtown Toronto high rises command high prices, it's worth noting condos are still a considerably more affordable option when compared to detached and semi detached houses.
Prices based on sales between August 2015 and August 2016
Stats encompasses condos within a five minute walk of each intersection
There is some overlap of condos between nearby major intersections