These GTA Neighbourhoods Still Have Below-Average Condo Prices

The average sale price of a condo in the Greater Toronto Area (GTA) has risen to $669,000, but there are still neighbourhoods in the GTA where condos are selling below the average, such as Old East York, Flemingdon Park, West Mall, Dixie-Applewood, and Thornhill. These areas are dominated by "1st generation condos," built in the 70s and early 80s, which offer good price-per-square-foot value but often lack modern conveniences. The pandemic's impact on immigration is driving prices down as there are fewer immigrants moving to the GTA at this time. However, homebuyers should research 1st generation condominiums before investing since some older buildings lack infrastructure for future upgrades. While property values in suburbs like Mississauga and Markham have seen a recent surge, some condos still sell for less than the GTA average.