{"id":29142,"date":"2024-04-29T06:00:00","date_gmt":"2024-04-29T10:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=29142"},"modified":"2024-05-06T10:08:45","modified_gmt":"2024-05-06T14:08:45","slug":"toronto-condo-equity-five-years","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/toronto-condo-equity-five-years\/","title":{"rendered":"Bought Your Toronto Condo 5 Years Ago? Here\u2019s How Much Equity You\u2019ve Built"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Condos offer an ideal entry point into the real estate market thanks to their comparatively lower prices in contrast to <a href=\"https:\/\/www.zoocasa.com\/blog\/buying-a-townhouse-in-2024-canada\/\" target=\"_blank\" rel=\"noreferrer noopener\">townhouses <\/a>and <a href=\"https:\/\/www.zoocasa.com\/blog\/single-family-home-below-national-average-spring-2024\/\" target=\"_blank\" rel=\"noreferrer noopener\">single-family homes<\/a>. Whether you&#8217;re purchasing your primary residence or planning to rent it out as an investment property, considering the potential for equity accumulation is crucial.&nbsp;&#8220;Condo apartments can offer a gateway to homeownership, presenting a more affordable entry point for first-time buyers. In the past five years in the GTA, condos have served as a stepping stone to rapidly build equity,&#8221; said Carrie Lysenko, CEO of Zoocasa.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In <a href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Toronto <\/a>and the Greater Toronto Area (GTA), the location of a condo purchase has a significant impact on the return on investment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To see how much a condo earned since 2018, Zoocasa analyzed data from 35 Toronto neighbourhoods and 22 GTA cities to gauge the equity growth of condos purchased at the average price over a five-year period, based on information from the Toronto Regional Real Estate Board.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Enjoying our content? Subscribe to our free<\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em> weekly newsletter<\/em><\/strong><\/a><strong><em> to get real estate market insights, news, and reports straight to your inbox.&nbsp;<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"852\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Toronto-Condo-Equity-Neighbourhoods.png\" alt=\"\" class=\"wp-image-29149\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Toronto-Condo-Equity-Neighbourhoods.png 600w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Toronto-Condo-Equity-Neighbourhoods-211x300.png 211w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Toronto-Condo-Equity-Neighbourhoods-721x1024.png 721w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Toronto-Condo-Equity-Neighbourhoods-768x1091.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Toronto-Condo-Equity-Neighbourhoods-1082x1536.png 1082w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Toronto-Condo-Equity-Neighbourhoods-1442x2048.png 1442w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Neighbourhoods with the Highest Condo Price Increases<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">One prestigious and luxurious neighbourhood stands out for the highest return on investment. York Mills, Bridle Path, and Hoggs Hollow, with an average price of $898,188 in July 2018, have seen an impressive increase to $3.3M\u2013 a remarkable 270% gain, translating to $2.4M in equity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Similarly, notable increases in equity were observed in Yorkdale, Glen Park, and Weston, where prices surged by 123% to reach an average of $656,143. Additionally, condos purchased in 2018 in Bathurst Manor and Clanton Park saw a substantial 67% price increase, with the average price climbing from $513,482 to $858,448.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/multimillion-dollar-homes-toronto\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Start Saving: $2M Homes Will Soon Be Toronto\u2019s New Normal<\/strong><\/a><strong>&nbsp;<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Condo Values Decline in Two Neighbourhoods<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">However, two neighbourhoods experienced a slight decrease in potential equity: Forest Hill South and Oakwood Village experienced a modest 1% dip, with the average condo price dropping from $851,814 to $839,335.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Rosedale Moore Park, the average price also fell by 3%, declining from $1,244,780 to $1,206,158.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These neighbourhoods are some of the most expensive for Toronto condo apartments, which means demand may be more minimal due to the out-of-reach price range for the average condo buyer.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite these two dips, investing in a Toronto condo over the past five years has yielded an impressive 36% average increase for all 35 neighbourhoods. In total, 52% of condos were valued at 20% or more since 2018.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1099\" height=\"1552\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/GTA-equity-condos-5-years-graph.png\" alt=\"\" class=\"wp-image-29156\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/GTA-equity-condos-5-years-graph.png 1099w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/GTA-equity-condos-5-years-graph-212x300.png 212w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/GTA-equity-condos-5-years-graph-725x1024.png 725w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/GTA-equity-condos-5-years-graph-768x1085.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/GTA-equity-condos-5-years-graph-1088x1536.png 1088w\" sizes=\"auto, (max-width: 1099px) 100vw, 1099px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Average Price of GTA Condos Skyrocketed&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Buying a condo in the GTA over the past five years has also yielded significant equity gains. The average condo across the 22 cities analyzed experienced an impressive 48% average increase in value since 2018. Additionally, a staggering 73% of GTA cities saw the average condo price increase by at least 40%.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read:<\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/buying-along-go-station-line-2024\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>The Cheapest Places to Buy a Home Along the GO Station Line in 2024<\/strong><\/a><strong>&nbsp;<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Top GTA Cities with the Highest Condo Price Increases<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Looking at the top three cities for the highest condo equity gains, <a href=\"https:\/\/www.zoocasa.com\/oshawa-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Oshawa<\/a> saw the most remarkable increase, with condo prices soaring 108% over the five years. In 2018, the average condo price was $260,400, but reached $542,257 by the end of 2023.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.zoocasa.com\/orangeville-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Orangeville<\/a> also experienced a whopping 75% increase, with the average condo price rising from $334,000 to $584,900. Similarly, both <a href=\"https:\/\/www.zoocasa.com\/scugog-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Scugog<\/a> and <a href=\"https:\/\/www.zoocasa.com\/clarington-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Clarington<\/a> saw impressive 66% equity gains. In Scugog, the average price of condos surged from $508,000 to $845,000, while in Clarington, the average condo price increased from $326,926 to $542,257.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/difference-between-condos-and-apartments\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Exploring the Key Differences Between Condos and Apartments<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The GTA cities with the lowest five-year growth included <a href=\"https:\/\/www.zoocasa.com\/vaughan-on-real-estate?sort=-price\" target=\"_blank\" rel=\"noreferrer noopener\">Vaughan<\/a> with a 23% increase, <a href=\"https:\/\/www.zoocasa.com\/innisfil-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Innisfil<\/a> with a 16% increase, and <a href=\"https:\/\/www.zoocasa.com\/caledon-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Caledon<\/a> by 9%. Despite these lower increases, they still reflect noteworthy gains.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Overall, homebuyers who invested in condos in 2018 reaped the rewards of the pandemic-driven surge in property values within the GTA and Toronto&#8217;s real estate market, resulting in significant equity growth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Are you in the market for a condo in Toronto or the GTA? <a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\" rel=\"noreferrer noopener\">Give us a call today! <\/a>&nbsp;One of our experienced real estate agents can guide you through the condo buying process.<\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Considering a move this spring?  <\/div>\n<div class=\"cta-body\">Contact us today to speak to a Realtor in your area<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Condos offer an ideal entry point into the real estate market thanks to their comparatively lower prices in contrast to townhouses and single-family homes. Whether you&#8217;re purchasing your primary residence or planning to rent it out as an investment property, considering the potential for equity accumulation is crucial.&nbsp;&#8220;Condo apartments can offer a gateway to homeownership, [&hellip;]<\/p>\n","protected":false},"author":157,"featured_media":29144,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"footnotes":""},"categories":[1114,181],"tags":[],"class_list":["post-29142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-affordability-reports","category-toronto-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bought a Toronto Condo? Here\u2019s How Much Equity You\u2019ve Built<\/title>\n<meta name=\"description\" content=\"In the past five years in the GTA, condos have served as a stepping stone to rapidly build equity. Learn how much you earned since 2018.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zoocasa.com\/blog\/toronto-condo-equity-five-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bought a Toronto Condo? Here\u2019s How Much Equity You\u2019ve Built\" \/>\n<meta property=\"og:description\" content=\"In the past five years in the GTA, condos have served as a stepping stone to rapidly build equity. Learn how much you earned since 2018.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/toronto-condo-equity-five-years\/\" \/>\n<meta property=\"og:site_name\" content=\"Zoocasa Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Zoocasa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-29T10:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-06T14:08:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/SOCIAL-toronto-condo-equity.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Angela Serednicki\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/SOCIAL-toronto-condo-equity.png\" \/>\n<meta name=\"twitter:creator\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:site\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Angela Serednicki\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/toronto-condo-equity-five-years\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/toronto-condo-equity-five-years\/\"},\"author\":{\"name\":\"Angela Serednicki\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/b162735b027c20ba6e2007c6ae373c22\"},\"headline\":\"Bought Your Toronto Condo 5 Years Ago? 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