In the City of Toronto, condos remain king when it comes to rising real estate values. According to the latest data from the Toronto real estate board, multi-family housing, both of the low- and high-rise variety, experienced price appreciation of 8.3 per cent in the 416 region, outstripping that of all other home types.
However, as real estate conditions can vary widely at the local level, price appreciation for Toronto condos for sale differs dramatically from neighbourhood to neighbourhood. The number of bedrooms within a unit can also have a dramatic impact on its value: according to a recent study from Zoocasa, units with two bedrooms saw greater-than-average appreciation in more neighbourhoods than units with just one bedroom.
To determine which neighbourhoods experienced the greatest appreciation for both one- and two-bedroom units, Zoocasa analyzed sold data from the Toronto Real Estate Board to calculate average year-to-date (January 1 to August 28, 2018) prices in 95 neighbourhoods across the City of Toronto. According to the findings, two-bedroom units are priced greater than the city average of $641,056 in a total of 43 neighbourhoods, while one-bedroom units are priced greater than the average of $473,800 in 30 neighbourhoods. The average two-bedroom condo appreciated by 7 per cent and the average one-bedroom condo appreciated by 11% compared to 2017.
Check out which Toronto neighbourhoods experienced the greatest (and least) condo appreciation by bedroom in the infographic below:
Neighbourhoods with Greatest Y-o-Y Appreciation: 1-Bedroom
1 – M1W: L’Amoreaux, Corinthian
2018 Price: $268,400
2017 Price: $182,000
+47%
2 – M5P: Forest Hill, Midtown Toronto
2018 Price: $496,222
2017 Price: $342,923
+45%
3 – M9R: Richmond Gardens, Willowridge, Kingsview Village
2018 Price: $270,000
2017 Price: $197,433
+37%
4 – M6G: Wychwood, Palmerson – Little Italy
2018 Price: $577,167
2017 Price: $456,161
+27%
5 – TIE M4N: Lawrence Park
2018 Price: $661,500
2017 Price: $535,875
+23%
5- TIE M3C: Flemingdon Park
2018 Price: $443,486
2017 Price: $359.442
+23%
Neighbourhoods with Most Y-o-Y Appreciation: 2-Bedroom
1 – M1M: Cliffside, Cliffcrest, Scarborough Village
2018 Price: $386,265
2017 Price: $266,966
+45%
2 – M8W: Alderwood, Long Branch
2018 Price: $587,940
2017 Price: $435,250
+35%
3 – TIE M3L: Downsview West
2018 Price: $226,625
2017 Price: $170,000
+34%
3 – TIE M6C: Humewood – Cedarvale
2018 Price: $800,000
2017 Price: $598,715
+34%
4 – TIE M3C: Flemingdon Park
2018 Price: $642,995
2017 Price: $484,671
+33%
4- TIE M4B: Woodbine Gardens, Parkview Hills, Topham Park
2018 Price: $395,000
2017 Price: $298,000
+33%
5 – M4V: Deer Park, South Hill, Summerhill, Rathnelly
2018 Price: $1,295,685
2017 Price: $1,016,906
+27%
Neighbourhoods with Least Y-o-Y Appreciation: 1-Bedroom
1 – M1N: Fallingbrook, Birchcliff, Birchcliff Heights
2018 Price: $395,250
2017 Price: $466,560
-15%
2 – M1E: Morningside, West Hill, Guildwood
2018 Price: $203.667
2017 Price: $230,100
-12%
3 – TIE M4K: Greektown, Riverdale, Broadview North
2018 Price: $442,244
2017 Price: $466.250
-5%
3 – TIE M6L: North Park, Maple Leaf, Rustic
2018 Price: $305,100
2017 Price: $320,150
-5%
4 – M5R: The Annex, Yorkville
2018 Price: $654,454
2017 Price: $675,690
-3%
5 – M4T: Moore Park
2018 Price: $516,100
2017: $513,922
0%
Neighbourhoods with Least Y-o-Y Appreciation: 2-Bedroom
1 – TIE M2L: St. Andrews – Windfields, Silver Hills
2018 Price: $1,000,000
2017 Price: $1,226,000
-18%
1 – TIE M3B: Don Mills, Bridle Path, Windfields
2018 Price: $679,923
2017 Price: $832,466
-18%
1 – TIE M6G: Wychwood, Palmerston – Little Italy
2018 Price: $664,000
2017 Price: $806,667
-18%
2 – M5M: Nortown, Bedford Park
2018 Price: $685,983
2017 Price: $805356
-15%
3 – TIE M6R: Roncesvalles Village, Parkdale
2018 Price: $836,201
2017 Price: $968,264
-14%
3 – TIE M5C: St. Lawrence Market North
2018 Price: $750,482
2017 Price: $868438
-14%
4 – M5E: St. Lawrence Market
2018 Price: $753,934
2017 Price: $866,159
-13%
5 – TIE M4K: Greektown, Riverdale, Broadview North
2018 Price: $547,111
2017 Price: $623,868
-12%
5 – TIE M4G: Leaside, Bennington Heights
2018 Price: $766,404
2017 Price: $866,751
-12%
