{"id":309630,"date":"2025-05-27T13:57:52","date_gmt":"2025-05-27T13:57:52","guid":{"rendered":"https:\/\/wahi.com\/ca\/en\/?p=309630"},"modified":"2025-08-29T10:33:01","modified_gmt":"2025-08-29T14:33:01","slug":"budget-friendly-condos-booming-gta-sees-surge-in-sales-under-500k","status":"publish","type":"post","link":"https:\/\/wahi.com\/ca\/en\/learning-centre\/real-estate-101\/buy\/gta-condo-sales-under-500k-booming\/","title":{"rendered":"GTA Sees Surge in Budget-Friendly Condo Sales Under $500K"},"content":{"rendered":"

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url=”https:\/\/www.instagram.com\/wahi.inc\/” icon_color=”#BC4E40″ _builder_version=”4.20.2″ _module_preset=”default” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” global_colors_info=”{}” follow_button=”off” url_new_window=”on”]instagram[\/et_pb_social_media_follow_network][et_pb_social_media_follow_network social_network=”facebook” url=”https:\/\/www.facebook.com\/wahiinc\/” icon_color=”#BC4E40″ _builder_version=”4.20.2″ _module_preset=”default” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” global_colors_info=”{}” follow_button=”off” url_new_window=”on”]facebook[\/et_pb_social_media_follow_network][\/et_pb_social_media_follow][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”15px||0px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” 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As the Greater Toronto Area\u2019s condo market<\/a> stalls, demand for units priced under $500,000 has been the exception, suggests new analysis by Wahi.<\/span><\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” custom_margin=”||11px|||” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n

By Josh Sherman<\/a>\u00a0<\/span>| 3 minute read<\/p>\n

[\/et_pb_text][et_pb_post_title title=”off” author=”off” date_format=”M j” categories=”off” comments=”off” featured_image=”off” _builder_version=”4.18.0″ _module_preset=”default” custom_margin=”||26px|||” global_colors_info=”{}”][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”0px||3px|||” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” width_tablet=”” width_phone=”100%” width_last_edited=”on|desktop” custom_padding=”0px||9px|||” global_colors_info=”{}” width__hover_enabled=”off|desktop”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/wahi.com\/wp-content\/uploads\/2025\/05\/GTA-Sold-Transactions-per-Bracket.jpg” alt=”The number of homes on the market continues to climb in major Canadian cities giving some buyers a shot at a discount.” title_text=”GTA-Sold-Transactions-per-Bracket” align=”center” force_fullwidth=”on” _builder_version=”4.27.4″ _module_preset=”default” custom_margin=”1px||29px|||” border_radii=”on|32px|32px|32px|32px” border_radii_tablet=”on|32px|32px|32px|32px” border_radii_phone=”on|0px|0px|0px|0px” border_radii_last_edited=”on|desktop” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” text_font_size=”1.13rem” text_line_height=”1.75rem” custom_margin=”-18px||2px|||” custom_padding=”||7px||false|true” custom_padding_tablet=”||7px||false|true” custom_padding_phone=”|15px|7px|15px|false|true” custom_padding_last_edited=”on|phone” text_font_size_tablet=”1.13rem” text_font_size_phone=”0.9rem” text_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n

Cooler conditions have prevailed in the Greater Toronto Area’s condo market, and some buyers are taking advantage of the less-competitive playing field by entering the market at lower price points.<\/span><\/p>\n

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<\/h2>\n

Condo sales are down sharply in the Greater Toronto Area so far this year, but the number of units changing hands for under $500,000 is surging, according to new analysis by Wahi, a Canadian digital real estate platform<\/a>.<\/span><\/p>\n

 <\/p>\n

<\/span><\/p>\n

In fact, despite the ongoing downturn in the first quarter, the number of GTA condos selling for between $400,000 and $499,999<\/a> increased by 20% compared to the same time last year.<\/p>\n

 <\/p>\n

These condos, which include apartments as well as townhomes with maintenance fees, have considerably lower prices than the region\u2019s first-quarter median of $629,250, which edged about 4% lower from Q1 2024.<\/p>\n

 <\/p>\n

\u201cSome homebuyers are clearly taking advantage of cooler conditions in the GTA\u2019s condo market to purchase units at a lower price than they could have even a year ago,\u201d says Wahi CEO Benjy Katchen. \u201cWith investors mostly absent from the condo market today, there\u2019s less competition for end-user buyers who may have been priced out of the single-family home market,\u201d he continues.<\/p>\n

 <\/p>\n

There was also a spike (55%) in condos selling for between $300,000 to $399,999, although this accounts for a sliver of the overall market, accounting for 2% of all condo transactions. Just 96 condos in the price range of $300,000 to $399,999 sold in Q1, compared to 62 units (12% of all sales) in Q1 of previous year.<\/p>\n

 <\/p>\n