How Much Does a Condo Cost in Toronto? A 2025 Guide for Homebuyers
Whether you’re a first time homebuyer or seasoned investor, Toronto’s condominium market has experienced notable shifts in recent years, influenced by economic conditions, supply dynamics, and evolving buyer preferences. As of early 2025, understanding the current pricing landscape is essential for prospective buyers, investors, and real estate enthusiasts. So let’s explore how much does a condo cost in Toronto, based on current trends?
Current Average Toronto Condo Prices
As of January 2025, the average price for a condominium in the Greater Toronto Area (GTA) was approximately $699,645, reflecting a 1 percent decrease from the previous year. The median price stood at $632,000, unchanged from the prior year.
In the City of Toronto specifically, the average selling price for a condo in Q4 2024 was $717,226, showing a slight decrease compared to the same period in the previous year.
Factors Influencing Toronto Condo Prices
Several key factors have contributed to the current pricing trends in Toronto’s condo market:
Increased Inventory: The number of active condo listings in the GTA saw a significant rise. In January 2025, active listings were up 46 percent compared to the same month last year.
Sales Activity: Condo sales in January 2025 decreased by 11 percent year-over-year, indicating a softening demand.
Economic Uncertainty: Broader economic factors and potential global trade uncertainties, like Trump’s tariffs, have impacted buyer confidence, leading to a more cautious approach in the real estate market.
Toronto Condo Price Variations by Neighbourhood
How much does a condo cost in Toronto? Condo prices in Toronto can vary significantly based on the neighbourhood. While specific data for 2025 is limited, historically, areas like the downtown core, including neighbourhoods such as King West and Liberty Village, have commanded higher prices due to their proximity to amenities, employment hubs, and entertainment options. In contrast, neighbourhoods further from the city centre may offer more affordable options.
Market Outlook for 2025: How Much Does a Condo Cost in Toronto
The Toronto Regional Real Estate Board (TRREB) forecasts a moderate increase in home sales and average prices for 2025. A total of 76,000 home sales are expected, up by 12.4 percent over 2024. The average selling price is projected to reach $1,147,000, an increase of 2.6 percent over 2024, with stronger price growth anticipated for single-family homes compared to the well-supplied condo apartment market.
Considerations for Homebuyers
For those considering purchasing a condo in Toronto, it’s essential to:
Assess Financial Readiness: Ensure you have a clear understanding of your budget, including down payment, closing costs, and ongoing expenses.
Research Neighbourhoods: Identify areas that align with your lifestyle, commute preferences, and future growth potential.
Stay Informed: Keep up to date on market trends and forecasts to make a well-timed and informed decision.
Next Steps
So how much does a condo cost in Toronto? As of early 2025, the average cost of a condo in Toronto hovers around $700,000, with prices varying based on location, size, and building amenities. While the market has experienced slight declines in prices and sales activity, forecasts suggest a moderate rebound in the coming months. Prospective buyers should conduct thorough research, assess their financial readiness, and consult with an experienced real estate professional to navigate Toronto’s dynamic condo market effectively.
Thinking about purchasing a condo in Toronto? Reach out now to explore available options and receive personalized guidance tailored to your needs.
