Condo apartments are half of all home sales in the City of Toronto, and in August 2026 buyers had more choice than they have had in years. There were 4,938 apartments listed at the end of the month against 885 sales, which works out to about five and a half months of supply. This page covers what condos are selling for, where the choice is, and what to check in a building before you make an offer.
What Toronto condos sold for in August 2026
| Condo type | Sales | Average price | Median price |
|---|---|---|---|
| Condo apartment | 885 | $651,648 | $550,000 |
| Condo townhouse | 120 | $712,296 | $661,650 |
The median is the better guide for most buyers. Large and luxury suites pull the average up, while half of all apartments sold for $550,000 or less. Apartments took 39 days to sell on average, and the benchmark apartment price was 6.88 per cent lower than a year earlier. That combination gives buyers room to negotiate on price, closing date and conditions.
Where the condos are
Toronto Central is where most of the market is. Of the 885 apartments sold in the city, 598 were in the central district, which covers downtown, midtown and the Yonge corridor up to Steeles Avenue. It also had 3,294 apartments listed at the end of the month, so this is where you can compare several units in the same building.
Toronto West and East shared the other 287 sales. In the west, condo apartments averaged $583,024, and South Etobicoke along the Queensway and near Kipling station is where much of the new building is happening. The east district has fewer towers and more of its condo stock in older, larger suites.
For house prices in the same districts, see the Toronto real estate page. If you have not settled on an area yet, start with which Toronto neighbourhood is right for you.
Resale or pre-construction
With a resale condo you can walk through the actual unit, see the real monthly fee and have a lawyer review the building’s finances before you commit. With pre-construction you pay a deposit in stages and wait years for occupancy. These are starting prices at some of the Toronto projects we track, next to the $550,000 resale median:
| Project | Area | Starting price |
|---|---|---|
| The Clove | Cloverdale, Etobicoke | $440,990 |
| Maxium | The Queensway, Etobicoke | $479,900 |
| Wilson West | North York | $492,900 |
| The Hill | Yonge and St. Clair | $549,900 |
| Q Tower | Waterfront | $589,900 |
| Elektra | Dundas East, downtown | $619,990 |
| 8 Elm on Yonge | Yonge and Dundas | $710,900 |
A starting price is for the smallest suite in the building. Several downtown projects start above what the median resale apartment sold for, so compare a new suite against resale units of the same size nearby before you sign. The full Toronto pre-construction list has all 30 projects, and new home vs resale home explains the differences in taxes, timing and risk.
What to check in a building
The maintenance fee. Compare the fee per square foot with similar buildings of the same age, and ask what it includes. Heat, water and hydro are covered in some buildings and billed separately in others. Our guide to condo fee increases in Ontario explains why fees rise and what owners can do about it.
The status certificate. This document shows the reserve fund balance, any special assessments and any lawsuits involving the corporation. The corporation has 10 days to provide it and can charge up to $100. Make your offer conditional on your lawyer reviewing it.
The rules. The declaration and rules decide whether you can have pets, rent the unit out, renovate or smoke on your balcony. If smoke from another unit is a concern, read what to do when a condo neighbour is smoking. If you plan to rent short term, the Toronto short-term rental rules only allow it in your principal residence.
Who lives there. Ask the property manager what share of the units are rented. A building with mostly owner-occupiers and one with mostly investor units can feel very different to live in.
Guides to specific Toronto buildings
- Panda Condos at 20 Edward Street, near Yonge and Dundas.
- River and Fifth Condos at 5 Defries Street, near Regent Park.
- Valhalla Town Square in Etobicoke: One Valhalla, Thunderbird and Triumph.
Closing costs on a Toronto condo
Toronto charges its own land transfer tax on top of Ontario’s. On a $550,000 condo that is $7,475 to the province and $7,475 to the city, for a total of $14,950. A first-time buyer pays $6,475 after both rebates. Check your own price with the land transfer tax calculator, estimate payments with the mortgage payment calculator, and see the first-time home buyer guide for the rebates and savings accounts you may qualify for.
If the condo will sit empty for part of the year, note that Toronto owners must declare every year whether their home is occupied, and a vacant home is taxed at 3 per cent of its assessed value.
Still deciding between a condo and a house?
House or condo compares the costs, fees and resale side by side. When you have a few buildings or neighbourhoods in mind, send us your list and budget and we will pull the recent sales in each one.
Sources
- Toronto Regional Real Estate Board, Market Watch, August 2026 (City of Toronto and district figures, MLS Home Price Index).
- City of Toronto, municipal land transfer tax and vacant home tax.
- Ontario Condominium Act, 1998, status certificates.
- Pre-construction starting prices are from builder releases, as listed on each project page.
Prices are for information only and are not an appraisal. HomeLife Landmark Realty Inc., Brokerage.