Toronto neighbourhoods where you can get the most bang for your buck on a condo

It’s no secret anymore that Toronto condos have been steadily dropping in value since February.

In early 2022, buyers were spending an average of 10% over the asking price, reports real estate website Strata.ca.

Now, the roles have reversed, with buyers paying an average of 2% under asking.

“Many sellers, now understanding that the market has shifted, are more willing to negotiate,” says Strata.

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All of this means that there are now condos for sale in the downtown core for prices you wouldn’t have seen six months ago — like these gorgeous homes under $500K, for example.

And if you’re a savvy homebuyer, you can save even more by looking in neighbourhoods with the best value for your dollar.

According to Strata.ca data shared with Curiocity, these neighbourhoods have the lowest prices on average per square foot, meaning that you can get more for less.

Below are Toronto’s neighbourhoods with the best value, and the average price per square foot in each area.

Cabbagetown: $807 psf

See condos for sale in Cabbagetown here

Chinatown – $940 psf

See condos for sale in Chinatown here

Corktown – $991 psf

See condos for sale in Corktown here

St. Lawrence – $1,023 psf

See condos for sale in St. Lawrence here

Regent Park – $1,033 psf

See condos for sale in Regent Park here

According to Strata, the average price per square foot in Toronto was $1,094 in August. So if you know where to look, you could be spending well below average on your next home.