Toronto’s priciest condos are at Bay and Avenue, real estate brokerage says

Toronto’s priciest condos are at Bay Street and Avenue Road, according to real estate brokerage The Red Pin.

An average one-bedroom condo in the area is $570,198, and an average two-bedroom is nearly $1.5 million (actually, the average price is $1,497,679).

There are a few reasons for this, The Red Pin says, but they all boil down to the age-old real estate truism: location, location, location.

The downtown core location means it ranks among the highest rates of foot traffic in the city. It’s also close to subways and the intersection serves as an “anchor” for Toronto’s urban development, The Red Pin says.

Owning there is more expensive than owning just one block east: condos on Bay sold for an average of $40,000 more than units along Yonge Street, the brokerage found.

The Red Pin looked at 28 intersections in the city, 24 of which have “the highest daily pedestrian traffic in the city – each with a pedestrian count of at least 17,000.”

The brokerage also found that condos located a short walk (five minutes) from these intersections sold for an average of $537,702. That’s nearly $150,000 more than the city-wide average of $398,858 during the same period.

The type of condos available in the area are being built for a specific buyer: There are an estimated 40% more one bedroom condos versus two bedrooms units around Toronto’s major intersections, Red Pin found.

All prices are an average and taken from The Red Pin.com

Yonge and Eglinton
One bedroom: $402, 924
Two bedroom: $629,644

St. Clair and Yonge
One bedroom: $439, 064
Two bedroom: $868,537

Bloor and Avenue
One bedroom: $570,198
Two bedroom: $1,497,679

Bay and Bloor
One bedroom: $439,453
Two bedroom: $1,174,562

Yonge and Bloor
One bedroom: $416,968
Two bedroom: $964, 813

Yonge and Wellesley
One bedroom: $414,351
Two bedroom: $601,952

Bay and College
One bedroom: $428, 826
Two bedroom: $611,950

Yonge and Collge
One bedroom: $422,928
Two bedroom: $602,081

Yonge and Gerrard
One bedroom: $425,658
Two bedroom: $611,381

Yonge and Dundas
One bedroom: $423,121
Two bedroom: $616, 219

Dundas and Bay
One bedroom: $422,088
Two bedroom: $637,589

Dundas and University
One bedroom: $382,148
Two bedroom: $531, 307

Yonge and Queen
One bedroom: $368,638
Two bedroom: $512,033

King and Spadina
one bedroom: $389,231
Two bedroom: $609,180

Front and John
One bedroom: $376,099
Two bedroom: $609,344

York and University
One bedroom: $421,202
Two bedroom: $753,164

Bay and Queen
One bedroom: $383,909
Two bedroom: $697,371

Bay and Adelaide
One bedroom: $393,957
Two bedroom: $688,327

Bay and King
One bedroom: $425,537
Two bedroom: $734,744

Bay and Wellington
One bedroom: $412,172
Two bedroom: $666,601

Yonge and King
One bedroom: $387,813
Two bedroom: $671,844

Yonge and Adelaide
One bedroom: $389,327
Two bedroom: $637,157

King and Jarvis
One bedroom: $369, 562
Two bedroom: $608,184

Richmond and John
One bedroom: $399,888
Two bedroom: $692,911

Front and John
One bedroom: $376,099
Two bedroom: $609,344

York and University
One bedroom: $421,202
Two bedroom: $753,164

Source: 680 News  by ERIN CRIGER Posted Sep 17, 2015 12:50
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