These 5 Ontario Cities Ranked Most Expensive For Homes Per Square Foot
A new survey from CENTURY 21 Canada has revealed the most expensive areas in Ontario for property prices per square foot and (surprise, surprise) downtown Toronto topped the list.
According to their findings, downtown Toronto condos cost $ 956 per square foot. In second place (and nearly $ 350 behind) were single-family homes in Vaughan at $ 612 per square foot. Markham and Hamilton followed at $ 557 and $ 532 for single-family homes, respectively, and Cambridge duplexes completed the top five at $ 527 per square foot.
“Demand has been off the charts,” said Mike Seiler, owner of CENTURY 21 In-Studio Realty. “Our clients are leaving Toronto now that they can work from home. People are realizing the extra space they can get once they get out of the metro area.
The CENTURY 21 report also found that house prices in cottage areas like Owen Sound and Gray Bruce increased by more than 80 percent from 2020 to 2021. Suburbs around the GTA have also seen an increase in prices. double-digit prices, while downtown Toronto condos were down slightly for the first six months of the year, but are making a comeback. “
The survey compared the price per square foot of properties sold between January 1 and June 30 of this year to the same time last year. This year, Toronto condo prices were 7.45% lower than they were in 2020 (when they were $ 1,033 per square foot). Interestingly, Hamilton saw a 30% jump from $ 406 to $ 532 per square foot for single-family homes.
The report also broke down the most expensive areas in the country. Surprisingly, Toronto did not make the top five. According to the survey, Montreal is the most expensive region with single-family homes costing $ 1,350 per square foot. Condo prices in downtown Vancouver took second place at $ 1,310 per square foot.
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