5 Toronto areas saw condo sales soar over 75% in February

Condo sales are on a sustained upswing across Toronto after spending much of 2020 in the red.

Citywide condo sales rose over 63 percent annually last month with 2,167 units changing hands. While most areas tracked by the Toronto Regional Real Estate Board (TRREB) saw substantial increases in sales, a handful recorded transaction totals that significantly outperformed the citywide growth figure.

Of the areas that saw a high volume of condo sales, five recorded annual growth that was healthily above 75 percent.

TRREB’s C08 and C10 posted condo sales totals that were more than double what they recorded during the same period last year, with gains hitting 138.6 percent and 111 percent, respectively. C08 covers the Distillery District, the eastern Waterfront Communities, Regent Park and the downtown core east of Yonge Street. C10 includes the eastern section of Yonge and Eglinton, Davisville Village and Sherwood Park. Both are home to areas with significant condo density.

C01 — encompassing Cityplace, Liberty Village and a large swath of the Financial District west of Yonge Street — posted an 85 percent sales boost over February 2020.

The area covered by W04, which includes Yorkdale-Glen Park, Mount Dennis and Briar Hill – Belgravia, recorded an 82 percent rise in condo sales over the previous year. In the city’s east, E09 — consisting of the Bendale, Woburn and Morningside neighbourhoods — posted a 77.4 percent annual sales gain.

Despite February being a shorter month, all areas with the exception of E09 also recorded monthly accelerations in condo sales compared to their January totals.

Taken together, just over 50 percent of all condo transactions that took place in Toronto in February happened in these five areas. There are 36 distinct areas in the City of Toronto tracked by TRREB.