Top 12 Most Expensive Toronto Condos Selling Above $1000 Per Square Foot

Top 12 Most Expensive Toronto Condos Selling Above $1000 Per Square Foot

By Ilan Joseph, Broker, ABR®, e-PRO®, AMP®© All rights reserved
 

The “Manhattanization” of Toronto is happening right before our eyes. With twice as many construction cranes up as the next closest North American City, Toronto’s hot condo market is soaring to new heights with 2018 continuing the trend set in 2017. While many new construction projects such as 1 Bloor West are selling for over $1400 per square foot, the list of 12 most expensive toronto condos covers only resale units trading today. 

torontos most expensive condosDemand for new condo sales has been pushed by a lack of affordable housing in the core, together with mortgage rule changes that has effectively changed the financing landscape for all mortgages in Canada. 

TREB director of market analysis, Jason Mercer, tells Zoocasa the reason for this steady demand comes from a combination of first-time buyers’ affinity for condos, and the unreachable prices of detached homes in Toronto.

“Based on price point, this housing type remains top of mind for many first-time buyers. In addition, as home prices have grown year-over-year, some buyers who initially may have considered the purchase of a low-rise home have chosen to purchase a condo apartment.”

While condo sales have certainly skyrocketed in recent years, houses in Toronto still average $1,450,000 which means demand for more affordable homes will carry on for the foreseeable future. Condo living isn’t for everyone and many have seeked homes in Vaughan and other GTA suburbs to accommodate their growing family’s needs.

Here are the Top 12 Most Expensive Toronto Condos, Selling Above $1000 Per Square Foot:

  1. U Condos, 65 St Mary St & 1080 Bay St — $1,319

  2. Four Seasons Residence, 55 Scollard St — $1,296

  3. One Bedford, 1 Bedford Rd — $1,231

  4. Karma Condos, 15 Grenville St — $1,121

  5. Residences of the Ritz Carlton, 183 Wellington St W — $1,076

  6. Pears on the Avenue, 170 Avenue Rd — $1,062

  7. The Prince Arthur, 38 Avenue Rd — $1,040

  8. Shangri-La, 180 University Ave — $1,040

  9. Theatre Park, 224 King St W — $1,038

  10. Murano, 38 Grenville St — $1,013

  11. Nicholas Residences, 75 St Nicholas St — $1,012

  12. Aura, 386-388 Yonge St — $1,004

 

 


Ilan Joseph is a Real Estate Broker with Sutton Group and is co-founder of a 10-person award-winning Toronto, Thornhill and Vaughan real estate team. Since 2002, Ilan has been privileged to advise and service thousands of buyers and sellers, enabling them to reach their real estate goals.

Ilan is often called upon by the media when covering Toronto’s real estate market and can be found on LinkedIn, InstagramYouTube and Facebook.