Townhouse Condos in GTA Suburbs Hardest To Buy Right Now, Data Reveals

If there’s one thing we’ve learned this past year and a half, it’s that not even a global pandemic can stop Toronto’s real estate market. We’ve known all along that rising property values are not only impacting first-time homebuyers, but also forcing many residents to look further and further beyond city limits.

For the first time since the start of the COVID-19 pandemic, Strata.ca has aggregated enough data to solidly illustrate the spillover effect of Toronto’s expensive housing market. Our real estate platform holds granular data about every condominium in the GTA. To rank properties based on their demand, Strata.ca looks at three criteria:

• Number of days that a unit spends on market before it’s sold (aka DOM)
• Appreciation rate over past 2 years
• Average sale-to-list-price ratio (how much a buyer typically pays in relation to the original asking price)

The top 10 most in-demand properties all follow a distinct trend. With the exception of one complex, the rest are townhouse condos located in the suburbs.

Ontarians had always known a mass migration of sorts was taking place as homebuyers looked outside the city for affordability. But still, our team didn’t expect suburban townhomes to dominate the list as much as they did.

With the average price of a detached home now above $1 million, it only makes sense for people to chase after the next best thing. After all, the average price of a GTA townhome is $617 per square foot (PSF) or roughly $730,000.

Strata.ca realtor Ben Lavrysen agrees, saying, “Buyers are looking for the best mix of space and affordability, which is more easily found in the suburbs.”

Homebuyers on average are paying a stunning 8.5 per cent above the list price for townhomes, largely fuelled by low inventory.

“Expect competition to increase even further for this limited housing category as we continue to see the lowest active MLS listings in 25 years,” Lavrysen says.

Here are the top 10 condos that are most in-demand right now. With the exception of one property in Toronto, the rest are townhomes outside city limits.

1) 960 Glen Street | Lakeview Park, Oshawa | Townhomes

• Average DOM: 6 days
• Appreciation Rate: +34%
• List vs. Selling Price: 32% above asking

View more Oshawa condos for sale.

2) 1765 Queen Street E | The Beaches, Toronto | Low-Rise

• Average DOM: 3 days
• Appreciation Rate: +40%
• List vs. Selling Price: 26% above asking

View more Beaches-Toronto condos for sale.

3) 1300 Oxford Street | Lakeview Park, Oshawa | Townhomes

• Average DOM: 5 days
• Appreciation Rate: +0%
• List vs. Selling Price: 25% above asking

View more Lakeview Park-Oshawa condos for sale.

4) 72 Martin Road | Bowmanville, Clarington | Townhomes

• Average DOM: 7 days
• Appreciation Rate: +32%
• List vs. Selling Price: 24% above asking

View more Clarington condos for sale.

5) 611 Galahad Drive | Eastdale-Donevan, Oshawa | Townhomes

• Average DOM: 5 days
• Appreciation Rate: +28%
• List vs. Selling Price: 23% above asking

View more Oshawa condos for sale.

6) 901-945 Burns Street W | Lynde Creek, Whitby | Townhomes

• Average DOM: 5 days
• Appreciation Rate: +31%
• List vs. Selling Price: 22% above asking

View more Whitby condos for sale.

7) 1270 Gainsborough Drive | Iroquois Ridge, Oakville | Townhomes

• Average DOM: 3 days
• Appreciation Rate: +6%
• List vs. Selling Price: 19% above asking

View more Oakville condos for sale.

8) 2035 South Millway | Erin Mills, Mississauga | Townhomes

• Average DOM: 10 days
• Appreciation Rate: +26%
• List vs. Selling Price: 17% above asking

View more Mississauga condos for sale.

9) 3050 Rotary Way | Millcroft-Uptown, Burlington | Townhomes

• Average DOM: 4 days
• Appreciation Rate: +19%
• List vs. Selling Price: 12% above asking

View more Burlington condos for sale.

10) 1905 Broad Hollow Gate | Erin Mills, Mississauga | Townhomes

• Average DOM: 5 days
• Appreciation Rate: +14%
• List vs. Selling Price: 8% above asking

View more Erin Mills-Mississauga condos for sale.

Because competition is fierce for these properties, hit ‘Get Listing Alerts’ on the condo’s profile page to be notified as soon as units hit the market.