10 best-selling condo buildings in Mississauga, Halton and Toronto, Ontario
Published April 23, 2024 at 1:59 pm
As the real estate market heats up, many people may be looking into homeownership.
Home prices are poised to increase again after a lull in the market, real estate experts predict.
With the average price for a detached home at $1,566,563 and apartment condos at $615,529 in March in Mississauga, those new to the market may want to check out condos first.
Digital real estate platform Wahi has just compiled a list of 10 of the Greater Toronto Area’s best-selling condo buildings.
“The best-selling Toronto condos show there’s still strong demand for condos depending on the location,” says Wahi CEO Benjy Katchen.
Four out of the 10 best-selling condos were located within the City of Toronto, and three were in Vaughan, according to Wahi.
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Milton, Mississauga, and Richmond Hill were also represented with one building in each.
Buildings with the highest sales-to-units ratios were also typically condo buildings completed within the past decade, with a notable exception: Applewood Landmark Condos, which was built in 1978.
Applewood Landmark Condos, at 1300 Bloor St., near Dixie Road in Mississauga, has many good reviews on Google.
“Still as safe and elegant as it was when it was built. Has been kept beautifully updated,” one person wrote.
The 26-storey building has car wash facilities, a concierge, parking, an indoor pool, sauna, hot tub, tennis courts, four shuffleboard courts, fitness rooms, a games room, a billiards room, library, party room, barbecue area, sun deck and more.
Applewood is ranked number 10 on the list with 22 units sold in 2023 for a sales-to-units ratio of 7.36 per cent, according to Wahi.
Hawthorne South Village Condos, a 213-unit mid-rise building in Milton by Mattamy Homes, led the way on the list with 21 suites changing hands for a sales-to-units ratio of 9.86 per cent in 2023, according to Wahi.
Bianca Condos, a nine-storey condo by Tridel located in Toronto’s Annex neighbourhood, followed with 21 sales in 2023 out of a total of 216 units, which gave it a sales-to-units ratio of 9.72 per cent.
Bianca was followed closely by 9085 Jane St., which is one of two towers located within the Park Avenue Place Towers development by Solmar Development Corp. in Vaughan. It recorded 27 sales and had a total of 285 units for a sales-to-units ratio of 9.47 per cent.
When ranking condos by sales, Wahi took into account both the volume of transactions as well as the number of units in each building to establish a top 10.
To determine the best-selling condos across the region, Wahi’s data team examined 2023 transactions for thousands of addresses, ultimately focusing on buildings that had more than 20 sales last year.
A total of 74 addresses in the GTA met the 21-sale minimum.
The analysis does not include pre-construction developments, although some new-condo assignments may be captured in data.
As buildings with the most units are also likely to have the most sales, Wahi then divided the number of sales for each building by the number of units it included. This sales-to-units ratio was used to rank condos for selling performance. The condos with the highest sales-to-units ratio were the best-selling buildings.
Wahi notes that a variety of factors impact a condo building’s popularity including the builder’s reputation, amenities, location and maintenance fees.
The buildings with the most and least expensive monthly maintenance fees was the subject of another recent report from Wahi.
See the top 10 best-selling condos Wahi report here.
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