So far in 2015 there have been seventy-seven condo sales recorded by the Toronto Real Estate Board in the C01 MLS district which includes neighbourhoods such as Harbourfront, Bay Street Corridor, CityPlace and South Core. Approximately half of these sales have been one bedroom units ranging in price from $239,000-$625,000. The median price for a one bedroom is $325,000.
In Toronto's C01 neighbourhoods entry level condos sell for between $239,000-$300,000. These smaller units range in size from 500-600 square feet. Going up a size, one bedroom units in the 600-700 square foot range are selling for between $300,000-$400,000, while the larger one bedrooms that are generally 700-800 square feet and often include a den (these are described as 1+1 bedrooms) are selling for $400,000-$500,000.
While bidding wars have cooled off somewhat the average list to sale price ratio for downtown Toronto condos is still hovering around 98%. There have been thirty-three, two bedroom units sold so far this year with a median sale price of $530,000. Two bedroom units start around $400,000 and top out around the $1 million dollar mark. The smaller two bedroom units are between 700-800 square feet and sell in the $400,000-$500,000 price range. Stepping up to the $500,000-$600,000 price range you will find 800-900 square foot units. Above $600,000 most units are 1,000 square feet or larger.
There have been a half dozen or so three bedroom units that have sold with a median price of $750,000. Building amenities are a big selling feature for downtown Toronto condo buyers. Various sales promoted the following amenities: gym, outdoor pool, movie theatre, playroom, bbq and patio area. Panoramic lake and City skyline views are highlighted in many sales as buyers place a premium on these dynamic and much sought afer vistas.
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