What Is The Average Price of a Condo in Toronto?

Wondering, what is the average price of a condo in Toronto? Understanding average prices, and what that money gets you these days, is key. In 2025, Toronto’s condo market offers prime opportunities, especially in popular downtown neighbourhoods. Let’s take a deep dive into average prices, compare top areas, and wrap up with what you can expect to get for your budget.

1. Toronto-Wide Condo Snapshot

As of January 2025, the average price for a condo across the Greater Toronto Area is approximately $699,645, marking a slight 1 percent dip from late 2024. Meanwhile, the June 2025 update shows the broader GTA average settling near $678,000, down nearly 7 percent year-over-year.

What does that mean for you? It’s definitely a buyer’s market. Prices have softened, and activity remains lower, except for well-priced, well-located units, which still see more activity than the average.

2. Liberty Village – Vibrant Urban Core

Liberty Village, known for its converted lofts, new condo towers and young creative energy, shows varied pricing depending on the building:

• Average prices range from $450,000 to $629,000 for typical one-bedroom units
• Premium buildings can exceed $1,000 per square foot, with top-tier units around $1,078/sq ft in the highly popularToy Factory Lofts 

This means a 600-square-foot unit in a modern Liberty Village building might cost between $558,000 and $650,000, offering solid value compared to downtown.

3. King West – Trendy and Connected

Still wondering what is the average price of a condo in Toronto? Over in King West, condos blend residential comfort with edgy nightlife. Recent listings in key buildings average about $649,900  with per-square-foot values hovering near $1,009/sq ft.

That means a 600 sq ft condo could cost around $600,000 to $650,000 with great access to King Street dining, quick transit, and overall walkability.

4. Other Key Toronto Neighbourhoods

• CityPlace / Harbourfront: Typically $650,000 to $750,000 for a one-bedroom. Ideal for buyers wanting waterfront views and condo living.
• Yonge & Eglinton: Expect $700,000+ range, favoured by families and young professionals thanks to transit and amenities.
• Liberty Village outskirts / Parkdale: Small units can be found under $500,000, though often in much older or smaller buildings.

5. Condos vs Houses – What is the Average Price of a Condo in Toronto?

While condos average $678,000, detached homes are around $1.43 million in 2025. A condo definitely offers a more affordable entry point, especially given softening prices and higher inventory.

6. What Do These Condos Get You?

When thinking about what is the average price of a condo in Toronto, here’s what typical budgets can buy:

• $500,000–$600,000:
  → 550 to 650 sq ft, 1-bedroom suite
  → Building amenities: gym, rooftop, 24-hour concierge
  → Near transit (TTC, GO Transit, or future SmartTrack)

• $600,000–$700,000:
  → Larger suites (650–800 sq ft), possibly 1+ dens
  → New-builds or well-maintained mid-rise
  → Bonus features: balcony, parking, print-ready layouts

• $700,000+:
  → Spacious 2-bedroom units (800+ sq ft)
  → Ultra-modern buildings, upgraded finishes
  → Central locations: King West, Yonge/Eglinton, Harbourfront

7. Why Now Is a Smart Move

• Market softening gives buyers leverage with more choices and more negotiation.
• Mortgage rates have eased, improving affordability.
• Transit expansion (SmartTrack, LRT) is boosting values in Liberty Village, Parkdale, and Yonge & Eglinton.

8. Tips for Buyers

• Get pre-approved before condo hunting
• Consider re-sale vs new build: New means more fees and delays; resale offers immediate move in
• Prioritize walkability: Transit, parks, restaurants and bars matter long-term

Next Steps

Toronto’s condo market in 2025 provides excellent chances for buyers, especially those wondering, what is the average price of a condo in Toronto? With average prices down, especially in Liberty Village and King West, and growing transit access, 2025 offers strong value and choice for condo buyers.

If you’re curious about what condo suits your lifestyle, or want a private walk-through, Sean Mayers Real Estate is here to help. You’ll get trusted expertise and support, along with personal service every step of the way.

Reach out today to start exploring your future home.