While Toronto’s housing market continues to be a perpetual roller-coaster, it should come as little to no surprise that sales fell 16.1% over the course of 2018, while the average home price dropped 4.3% to an average of $787,300, according to a new report from Zoocasa.
Despite this, condo prices in Toronto experienced the strongest price growth of any home type in 2018.
The average unit appreciated 8.7% to $593,366, well outpacing the rest of the market. In comparison, detached home prices saw an average depreciation of -7.1%, while semi-detached and townhouse prices rose 1% and 2.7%, respectively.
And while affordability was the main driver behind condo popularity in 2018, luxury units were also in hot demand throughout the city.
So where exactly does one find these luxury buildings? According to Zoocasa, six of the city’s 10 condo buildings are located in Yorkville, while the remaining four are peppered throughout the Entertainment District, Old Toronto and Summerhill neighbourhoods.
To determine which buildings fetched the most, Zoocasa determined the average price per square foot based on dollar volume for the year, as well as the estimated total square feet sold, based on data sourced from the Toronto Real Estate Board.
Only buildings with at least 10 transactions in 2018 were included.
Continue to read on: Daily Hive