Real Estate

New Condo Stats across GTA

  • Last Updated:
  • May 11th, 2017 8:08 pm
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Deal Addict
Nov 22, 2004
1621 posts
766 upvotes
GTA

New Condo Stats across GTA

Hey all,

I was analyzing the new construction condo market in a few urban areas across GTA to see if the investors there are really getting their money's worth. Attached is what I've seen as per MLS. Some notes and disclaimers:
  • The data looks at condo sales and leases which are either new or 0~5 years old
  • I looked at median figures because the mean (average) skewed results thanks to the outliers
  • Most sales are resales however some are straight from the builders who used MLS to sell remaining inventory
  • The data is as of March 1, 2017. Given the current dynamic nature of the market, older data was not as relevant and MLS also limits the results to 200
  • This only focuses on 1BR, 1BR+Den and 2BR condos - not lofts, bachelor/studio units, 3BR+ condos
  • This does not show the price change over time (i.e. capital appreciation, or increasing rent) of the area. This simply focuses on rent vs purchase price
Hope this helps the folks that are vested in the market or plan to; it's really not meant to incite any further debates on the status of the current market.

Cheers
Images
  • Condo Market Analysis - 2BR - Apr 14, 2017.png
  • Condo Market Analysis - 1BR+Den - Apr 14, 2017.png
  • Condo Market Analysis - 1BR - Apr 14, 2017.png
Last edited by Clueless Fox on Apr 14th, 2017 4:43 pm, edited 2 times in total.
CPA. Realtor.
14 replies
Deal Fanatic
Jul 3, 2011
6517 posts
3798 upvotes
Thornhill
Interesting Square One Cap Rate.

For each of these were the 2-3 on either side of the median negligible differences?
Deal Addict
Nov 22, 2004
1621 posts
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GTA
licenced wrote: Interesting Square One Cap Rate.

For each of these were the 2-3 on either side of the median negligible differences?
Yeah - they were between $1K to $5K, except probably Bloor-Islington because it had much less sales compared to downtown or North York so the deviation was a little more there but not too significant.
CPA. Realtor.
Deal Expert
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May 22, 2005
21223 posts
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GTA
My aunt's neighbour just sold their condo. Damn.
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Deal Guru
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Feb 2, 2014
11233 posts
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Toronto
Yes, a tad overprice...will probably sell for $350k or less.
Kevin Somnauth, CFA
Principal Broker/Owner - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
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Nov 21, 2009
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coriolis wrote: My aunt's neighbour just sold their condo. Damn.
Whos' paying that much for a <1200sqft condo in Markham? That's ridiculous. Also $530/mth maintenance.
Banned
Dec 5, 2015
1338 posts
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Thornhill, ON
mikeye9 wrote: Whos' paying that much for a <1200sqft condo in Markham? That's ridiculous. Also $530/mth maintenance.
How is that ridiculous? Corner unit with 2 parking spots...The maintenance fee is very cheap in that building as youve noticed for 1000+sqft and 2 parking...That's a LEED certified buildings
Deal Addict
Dec 28, 2002
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Doubleshot wrote: How is that ridiculous? Corner unit with 2 parking spots...The maintenance fee is very cheap in that building as youve noticed for 1000+sqft and 2 parking...That's a LEED certified buildings
maint fee is lower because it doesn't include water too. if water is included it is easily $600+
Banned
Dec 5, 2015
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Thornhill, ON
kareshi wrote: maint fee is lower because it doesn't include water too. if water is included it is easily $600+
Yes..That's great...Pay for what you use not others...Very cheap maintenance fees for a 1000+ sqft unit with 2 parking and locker

Who uses $100+ in water a mth? Even including water....It'll be well below $600

That is a very nice building too, great facilities and LEED certified
Newbie
May 30, 2016
71 posts
20 upvotes
I have been shopping recently and condos with a maintenance fee of 500$+ sell usually for less. So yeah, I will also call it ridiculous to pay 500$+ except if it has something really special that I personally like (Fancy granite kitchen countertops, aw some view..).
Deal Addict
Nov 22, 2004
1621 posts
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GTA
Superbobby wrote: I have been shopping recently and condos with a maintenance fee of 500$+ sell usually for less. So yeah, I will also call it ridiculous to pay 500$+ except if it has something really special that I personally like (Fancy granite kitchen countertops, aw some view..).
It depends on the size of the condo as well. I personally cannot justify paying $500+/month for a 1BR condo in maintenance fees. And if that's the fees for 1BR in a new (0~5 years) condo, then it means something must have happened there and I'd stay away from it.
CPA. Realtor.
Banned
Dec 5, 2015
1338 posts
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Thornhill, ON
Superbobby wrote: I have been shopping recently and condos with a maintenance fee of 500$+ sell usually for less. So yeah, I will also call it ridiculous to pay 500$+ except if it has something really special that I personally like (Fancy granite kitchen countertops, aw some view..).
They sell for more...Look in Yorkville and etc..All well above $500 ...All well above average selling prices

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