Toronto condo prices in 2026 depend mostly on the unit itself: its size and layout, the age and reserve fund of the building, the monthly maintenance fee, and the neighbourhood around it. According to TRREB’s Q2 2026 condo report, the average selling price for City of Toronto condo apartments was $667,916 from April to June 2026, down from $717,403 a year earlier. An average blends very different units, so the price of any one condo depends on the details below.

Quick facts about Toronto condo prices

• The City of Toronto average condo apartment selling price was $667,916 in Q2 2026, about 6.9% lower than $717,403 in Q2 2025, based on TRREB figures for April to June.
• TRREB recorded 3,174 condo apartment sales in the City of Toronto in Q2 2026, up from 2,872 in Q2 2025. Sales rose while the average price fell.
• Monthly maintenance fees are set by each condo corporation’s annual budget, so two units of the same size can have different fees.
• Price per square foot is only a fair comparison when both listings measure area the same way.
• A single quarterly average can shift because the mix of units sold changes, even when individual units do not change in value.

Key distinctions to keep straight

Average price versus median price. An average can be pulled up or down by a small number of very expensive or very inexpensive sales. The median is the sale in the middle of the range, so it often gives a steadier picture of a typical transaction.

Asking price versus sold price. The asking price is the seller’s starting position on a listing. The sold price is what the buyer and seller agreed to in the final agreement of purchase and sale.

Maintenance fee versus special assessment. The maintenance fee is the regular monthly charge that funds the building’s operating costs and reserve fund. A special assessment is a one-time charge the condo corporation can levy for a specific cost that the budget did not cover.

Usable area versus total area. Listings do not always describe square footage the same way. Balconies, storage lockers, and shared spaces may or may not be included, so the figure on a listing is a starting point rather than a final measurement.

A note on this guide. This article provides general education about the Toronto condo market. It is not financial, legal, or tax advice. The TRREB figures quoted here cover City of Toronto condo apartments for the period named, and they can be revised in later releases. Before you make an offer, speak with a licensed real estate agent about the specific building and with a real estate lawyer about the condo documents.

Key takeaways

• The average price is a useful starting point, but the unit’s size, layout, fees and building condition matter more for a specific purchase.
• Unit size is the largest single driver of the total price, while price per square foot can make smaller and larger units look more similar than they are.
• Monthly fees affect what you can comfortably carry, and they should be read alongside the reserve fund and the building’s budget.
• The status certificate, not the listing photos, is where you confirm the building’s finances and any pending repairs.

If you are comparing condos across the GTA and want a clear view of the process from first search to closing, Justo’s buying page explains how the service works and what it covers. The rest of this guide walks through the factors that move condo prices, so you can compare units on the same terms.

What the latest TRREB condo data shows

TRREB’s condo report for Q2 2026 is the most direct public source for City of Toronto condo apartment prices and sales. It reports the average selling price, the number of sales, and the dollar volume of transactions for the quarter. The report also includes charts by bedroom type and sub-market, which are the figures most useful for comparing unit sizes. Readers should check the current report directly, because bedroom-level charts are updated each quarter and this article does not reproduce them.

City of Toronto condo apartments (TRREB)	Q2 2025	Q2 2026	Change
Average selling price	$717,403	$667,916	About 6.9% lower
Number of sales	2,872	3,174	About 10.5% higher

Source: TRREB condo report, Q2 2026 (April to June 2026). Percentage changes are calculated from the two reported figures. The table shows averages, not medians.

The two numbers tell a more complicated story than either one alone. More condos sold, which suggests more activity, while the average selling price for the quarter came in lower than a year earlier. A lower average can happen when more of the sales are smaller or lower-priced units, when the units sold are in different neighbourhoods, or when prices fall across the board. The average on its own cannot tell you which of these explains the change, so it is worth reading the bedroom-type and sub-market charts in the same report before drawing a conclusion about a specific building.

For a broader view of the GTA housing market and the most recent sales and benchmark price figures, see our GTA housing market update for November 2026. For a closer look at how sales have moved, this earlier analysis of the decline in Toronto home sales is a helpful companion. Buyers asking whether timing matters can also read Is Now the Right Time to Buy in the Toronto Real Estate Market?

How unit size changes condo prices

Unit size is the first thing most buyers compare, and for good reason. A larger unit usually costs more in total, but the relationship between size and price is not a straight line. Studios and one-bedroom units tend to have the highest price per square foot because the building’s fixed costs and the kitchen, bathroom, and entry space take up a larger share of a small unit. Larger units usually have a lower price per square foot, but they also carry a higher total price and often a higher monthly fee.

Layout matters as much as square footage. A 600 square foot one-bedroom with a separate kitchen and a usable balcony can feel more practical than a 650 square foot unit with an awkward floor plan. When you tour units, pay attention to where the windows face, how the bedroom door is placed, and whether the living area can fit a sofa and a table without blocking the path to the balcony. These details rarely appear in a price comparison, but they affect how long you will be comfortable in the unit.

Studio and bachelor condos

Studios are often the lowest total price in a building, and they are popular with first-time buyers and people who work close to the downtown core. The trade-off is limited space for storage, work, and guests. Because the total price is lower, the monthly fee is also usually lower, which can make a studio easier to carry on a single income. If you are still deciding whether owning beats renting for you, this comparison of buying a condo and renting in Ontario covers the main trade-offs. Resale studios can be a good fit if you want a central location and do not need a second room.

One-bedroom condos

The one-bedroom is the most common unit type in many Toronto buildings and the one most often compared in local listings. It offers a separate sleeping area and usually more storage than a studio. Prices vary widely depending on the neighbourhood, the age of the building, and whether the unit has parking or a locker. Older one-bedroom units can have a lower price but may come with older finishes and different fee levels, so compare the monthly fee and the building budget along with the sale price.

Two-bedroom and three-bedroom condos

Two- and three-bedroom condos suit families, roommates, and buyers who work from home. They carry higher total prices, and their monthly fees usually rise with size. These units also tend to appear in fewer buildings, which can narrow the search. Because there are fewer comparable sales, averages for larger units can move more from quarter to quarter. For this reason, a single recent sale is a more reliable guide than a quarterly average when you are pricing a larger unit.

Unit type	What usually drives the price	What to check before you offer
Studio or bachelor	Central location, building amenities, and demand from first-time buyers	Storage, layout efficiency, and whether the fee is manageable on a single income
One-bedroom	Neighbourhood, building age, parking or locker availability, and finish quality	Recent comparable sales, the monthly fee, and the reserve fund position
Two-bedroom	Total floor area, number of bathrooms, balcony size, and the building’s view or exposure	Layout flow, noise between rooms, and how the fee compares with similar buildings
Three-bedroom	Limited supply, family-oriented layouts, and building size	Whether comparable sales are recent enough to rely on, and the cost of special assessments

Price per square foot: useful, but easy to misread

Price per square foot is one of the most searched ways to compare condos, and it can be a helpful tool. It answers a simple question: how much are you paying for each unit of area? The trouble is that the measurement behind the number is not always consistent. A listing may describe interior area, a builder’s marketing area, or a measurement that includes or excludes balconies, shared walls, and storage. Two units with the same listed price per square foot can therefore be different in practice.

A better approach is to compare the total price, the monthly fee, and the usable layout together. Ask the listing agent how the area was measured, and check whether the building’s documents describe the unit’s size. If you are comparing units across different buildings, make sure both listings use the same measurement standard before you draw a conclusion. Price per square foot also changes with the floor, the view, and the building’s amenities, so a higher figure does not always mean the unit is overpriced.

Maintenance fees and what they cover

Monthly maintenance fees, also called common expenses, are a central part of owning a condo. Each condominium corporation sets its annual budget and divides the total cost among units, usually based on the unit’s share of the building. The fee generally pays for building operations such as heating and water (depending on the building), cleaning and security, insurance for common areas, elevator service, and contributions to the reserve fund that pays for major repairs over time. The fee for your unit will depend on its size and share of the building’s costs, not on its sale price.

Fees matter for two reasons. The first is your monthly cash flow. A condo that looks affordable at the purchase price may be harder to carry once the fee is added to the mortgage payment, property tax, and utilities that are not included. Lenders generally factor condo fees into affordability calculations, so ask your lender how they will treat the fee for the specific unit you are considering. The second reason is what the fee tells you about the building. A fee that is unusually low compared with similar buildings can signal a thin budget, deferred maintenance, or a reserve fund that is not being built up. A fee that is high can reflect strong services and planned repairs, which is why the budget and reserve fund study should be read rather than the number alone.

Be aware of special assessments. A condo corporation can levy a one-time charge to cover a cost the budget did not anticipate, such as a major repair or a required building upgrade. Special assessments are not common in every building, but they can be significant when they occur. Under Ontario’s condominium rules, the corporation has to provide information about its finances when you ask for it, and the status certificate is the main document for this (more on that below).

Building age, amenities and the reserve fund

Building age is one of the most important factors in condo pricing, although it does not always move in one direction. Older buildings can offer lower purchase prices, larger room sizes in some cases, and well-established neighbourhoods. They may also have older systems, more deferred repairs, or a reserve fund that was underfunded for years. Newer buildings often include more modern finishes and amenities, but they can carry higher fees to cover those amenities and may be priced at a premium for their location.

Amenities such as a gym, concierge, party room, or rooftop terrace can make a building more comfortable to live in, but they also add to the operating budget. When you tour a building, look at which amenities are well maintained and which show signs of age. The reserve fund matters here. A reserve fund study estimates how much money the building needs to set aside for major repairs such as roofs, elevators, and windows. A corporation with a regularly funded reserve fund is generally in a stronger position than one that relies on special assessments, though the study itself should be read for details about timing and cost.

Neighbourhood and transit factors

Location is a major part of condo pricing in Toronto. Units near subway stations, major transit corridors, parks, and employment centres tend to attract more demand, and that demand is often reflected in the price. Access to transit can also affect the total cost of owning a car, which matters for buyers comparing a condo with a parking space against a unit with none.

When you compare neighbourhoods, rely on objective factors you can verify: transit routes and travel times, distance to schools and amenities you use, the mix of housing types in the area, and municipal plans for nearby development. Construction of new transit or new buildings can change an area over several years, so check current official sources before you assume a future improvement will happen on a particular timeline. For a broader look at neighbourhoods buyers are considering, see Toronto’s hottest neighbourhoods to consider. Neighbourhood information is most useful when it helps you decide how you will live day to day rather than how you think an area will perform.

Pre-construction and resale condos are priced differently

Resale condos are units that have already been completed and occupied at least once, or are ready to be occupied. Pre-construction condos are sold before the building is finished, usually with a deposit schedule and a closing date several years away. The two markets work differently. Resale prices reflect recent comparable sales in the same building or neighbourhood. Pre-construction prices reflect the developer’s launch pricing, the deposit structure, and the market conditions at the time of sale, which may not match current resale values.

If you are considering a new unit, the Harmonized Sales Tax treatment, the Tarion warranty that applies to new homes in Ontario, and the deposit timeline all need to be understood before you sign. Pre-construction purchases carry different risks and protections from resale purchases, so compare them on their own terms rather than using a resale average as a benchmark. If you are also weighing a condo against a townhouse, this guide to freehold and condo townhouses explains the ownership differences. Justo’s buying page also describes its Pre-Con section for new developments.

What to check before you make an offer

Before you make an offer on a condo, review the status certificate. Under Ontario’s Condominium Act, 1998, a condo corporation generally must provide a status certificate when requested, and the certificate sets out information such as the corporation’s budget, reserve fund, any outstanding fees on the unit, and any legal or repair issues the corporation has disclosed. Your real estate lawyer will usually review it as part of the purchase. The Condominium Authority of Ontario provides plain-language guidance on status certificates and how condos operate, and it is a useful starting point if you have not read one before.

Also review the condo’s declaration, bylaws, and rules, especially if you plan to rent the unit, keep pets, or renovate. Ask the agent about recent or pending special assessments and any litigation involving the corporation. Ask whether the unit has parking and lockers, and whether those are included in the sale or sold separately. These details affect both the purchase price and the monthly cost of ownership.

You can also learn about the condo’s governance through the Condominium Authority of Ontario’s public tools. Its resources explain the status certificate, common expenses, and the buyer’s rights in a condo purchase, and they are written for people who are not lawyers. They do not replace legal advice on a specific transaction.

Land transfer tax on a condo purchase

Land transfer tax applies to condo purchases in Ontario in the same way it applies to other resale homes. Toronto also charges a municipal land transfer tax on properties in the City of Toronto, which is separate from the provincial tax. The amount depends on the purchase price, the location, and whether any rebates apply to the buyer. Because these rules change and depend on the details of each transaction, use the official calculators and confirm the figures with your lawyer before you finalize your budget.

How Justo can help with a Toronto condo search

Justo is an Ontario real estate brokerage that serves buyers and sellers across the GTA and in some other areas. Its buying page describes a buyer cashback offer, which is calculated as a share of the brokerage’s commission after administrative costs. According to that page, the offer is up to 50% of the commission, and its example is limited to eligible homes over $300,000 purchased in the GTA. Availability and the calculation depend on the purchase and location, so check the current terms before you rely on any amount, and do not assume the same offer applies in every market. Cashback is not a reduction in the price of the home itself, and it does not change the costs described above.

If you are thinking about selling a condo rather than buying one, the seller page at Justo outlines the seller services available. If you want an estimate of a condo’s current value before you list or make an offer, the home value estimator is a starting point, and an agent can prepare a more detailed comparison based on recent sales in the building. An estimate is not an appraisal or a guaranteed sale price.

Frequently asked questions

What is the average condo price in Toronto in 2026?

According to TRREB’s Q2 2026 condo report, the average selling price for City of Toronto condo apartments was $667,916 for April to June 2026. That is an average across all condo apartment sales in the City of Toronto that quarter, so it does not describe a specific unit or building.

Why are Toronto condo prices lower than last year?

TRREB’s Q2 2026 report shows the average selling price was lower than in Q2 2025, while sales were higher. An average can move because of the mix of units sold, the neighbourhoods involved, and changes in prices across the market. A single quarterly figure cannot isolate one cause, so read the bedroom-type and sub-market charts in the report for more detail.

Is a one-bedroom condo cheaper than a two-bedroom in Toronto?

Usually, yes, because a larger unit generally has a higher total price. The relationship is not always consistent, though. A larger unit in an older building can sometimes be priced lower per square foot than a smaller unit in a newer tower, so compare specific units rather than unit types.

What is a bachelor or studio condo?

A bachelor or studio condo is a unit with a combined living, sleeping, and kitchen area and no separate bedroom. These units usually have the lowest total price and monthly fee in a building, but they offer less storage and space for guests or work.

How much are condo maintenance fees in Toronto?

Maintenance fees vary by building, unit size, and what the building includes, such as utilities, amenities, and reserve fund contributions. Two units of the same size can have different fees. The current fee for a specific unit is shown in the building’s documents and the status certificate, and the listing agent can confirm it.

What do condo maintenance fees cover?

Fees generally cover the building’s shared operating costs, such as cleaning, security, elevator service, common area insurance, and in some buildings heating or water. They also include contributions to the reserve fund that pays for major repairs. The exact list depends on the building’s budget and declaration.

What is a status certificate, and do I need one?

A status certificate is a document issued by the condo corporation that describes its finances, budget, reserve fund, and any outstanding amounts on the unit. Under Ontario’s Condominium Act, 1998, a corporation generally must provide one when requested. Most buyers have their real estate lawyer review it before closing.

Do condo fees affect mortgage approval?

Lenders generally include condo fees in their affordability calculations, so a higher fee can reduce the amount a lender is willing to advance. Each lender applies its own method, so ask your lender how the fee for a specific unit will be treated. This article does not provide mortgage advice, and approval depends on the lender’s criteria and your circumstances. For a sense of how much cash you may need up front, see how much down payment a Toronto condo can require.

What is a special assessment on a condo?

A special assessment is a one-time charge that a condo corporation can levy to pay for a cost its budget did not cover, such as a major repair. The amount is shared among owners based on their unit’s share of the building. Ask about any planned or recent special assessments before you make an offer.

Is price per square foot a reliable way to compare condos?

It can be a useful starting point, but only when both listings measure area the same way. Listings may include or exclude balconies, storage, and shared spaces. Compare the total price, the monthly fee, and the usable layout together with the price per square foot.

Does a large reserve fund mean a building is a better buy?

A regularly funded reserve fund is generally a sign of good planning, but the balance alone does not tell the full story. The reserve fund study, the timing of planned repairs, and the building’s budget give a fuller picture, and a qualified professional or your lawyer can help you read them.

Are older condos cheaper in Toronto?

Older condos often have lower purchase prices, but they can also have older systems, more deferred maintenance, or a weaker reserve fund. The lower price may not reflect the total cost of ownership, so compare the fee and the building documents alongside the sale price.

Does location change a condo’s price?

Yes. Proximity to transit, employment centres, parks, and amenities often affects demand and price. The effect varies by neighbourhood and changes over time as transit and development plans progress, so check current official sources for any future project.

Does Justo offer cashback on a condo purchase?

Justo’s buying page describes a buyer cashback offer that is calculated as up to 50% of the brokerage’s commission after administrative costs, with a stated example limited to eligible GTA homes over $300,000. Availability depends on the purchase and location, so confirm the current terms with an agent before you rely on any amount.

Is land transfer tax different for a condo?

Land transfer tax applies to condo purchases in Ontario the same way it applies to other resale homes, and Toronto’s municipal tax also applies within the City. Rebates and exceptions depend on the buyer and the transaction, so use the official calculators and confirm the amount with your lawyer.

Do I need a lawyer to buy a condo in Ontario?

Most buyers use a real estate lawyer to complete the transaction, review the agreement of purchase and sale, and examine the status certificate and condo documents. Legal fees and disbursements vary, so ask for a written estimate before you choose a lawyer.

Where can I find official condo market data for Toronto?

TRREB publishes condo reports each quarter, including average selling prices, sales counts, and bedroom-type charts for the City of Toronto. The most recent quarterly report is the best place to check current figures, and the Condominium Authority of Ontario is a good place to learn how condo corporations operate.

Next steps

A condo purchase is easier to judge when you put the sale price, the monthly fee, the building budget, and the layout side by side. Start with the unit types that fit your budget, then compare two or three buildings on the same basis. Ask for the status certificate early, and speak with a lawyer before you make a firm offer. If you would like help comparing units across the GTA, contact Justo through its buying page to discuss your budget and the neighbourhoods you are considering.

This article is general information about the Toronto condo market as of November 2026 and is not financial, legal, tax, or mortgage advice. Market figures are attributed to their sources and time periods. Verify current information with a licensed real estate professional, a mortgage lender, and a real estate lawyer before making any decision.