3 Toronto suburbs saw condo prices rise over 10% in November

While downtown condos saw price declines last month, a few suburban condo markets in the Toronto region still recorded healthy price growth.

Oakville, Oshawa and Burlington all posted resale condo price gains above 10 percent in November, while Brampton and Vaughan recorded increases just shy of the double digits.

Condo sales activity was about on par with transaction levels recorded in November 2019 for the three top-performing suburban cities, but demand was strong enough to keep prices rising.

To compile this data, the Livabl team looked at average sale prices for condo apartments sold last month in the 30 cities and towns outside of the City of Toronto that TRREB tracks. Of the areas that recorded 10 or more transactions during both November 2020 and 2019, three experienced price increases over 10 percent compared to the previous year.

Oakville topped the list with its average condo price rising to $661,555, up nearly 16 percent from a year ago. Oshawa posted a nearly 15 percent gain, with an average sale price of $307,400 in November. Rounding out the top three was Burlington, with prices increasing to $554,494, an annual gain of 12 percent.

The two cities that came close to achieving double-digit gains — Brampton and Vaughan — each recorded increases of nearly nine percent, with prices rising to $462,461 and $646,801, respectively.

Of course, the pace of price growth in these suburban condo markets seems relatively sluggish compared to detached homes across the Toronto region. Detached home prices rose over 20 percent in 19 Toronto suburban cities and towns last month.