Condominium sales in downtown Toronto increased greatly over the last several years. In comparison with 2000, the number of condo apartments sold in C01 increased three-fold by 2007. A slight decrease occured by the end of 2008. In district C08 the increase from 2000 to 2007 was 1.7, followed by a decrease in 2008.

Condo sales in C01 - an area south of Bloor between Yonge Street and Dufferin Street - were increasing rapidly from just above 1000 in the year 2000 to over 3000 by 2007. In 2008 the number of condominiums sold went down close to the 2006 number. The rapid increase in the number of condos sold was in great extent due to the development of the CN lands. Such vast space was not available anywhere else in the downtown core.

It is interesting how average selling prices in C08 are gradually catching up to those in C01. On a yearly basis, in 2000 the average selling price for condo apartments in C01 was $227,753, versus $196,304 in C08. By 2008 these prices were $349,476 for C01 and $330,344 for C08. That trend is partially due to the gentrification of the south-east area of downtown Toronto, with trendy shops and cafes. Although a great number of condo buildings are being constructed in the area south of the CN tracks in C01, many of these condos are really small, therefore lowering the average price.

If we compare average prices in both districts, as well as the numbers of condominium apartments sold on monthly basis, we can see an interesting difference between the real estate condo market parameters in the two locations.

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