By Jarrett Hunter, Realtor® | RE/MAX Your Community Realty

If you’re thinking about selling your Toronto condo, one of the first questions you’re probably asking is: what’s it actually worth in today’s market?

It’s a reasonable question, but the answer isn’t always as straightforward as checking a few online listings. Toronto condos can vary significantly in value, even within the same building. The most reliable starting point is understanding what comparable properties have recently sold for, what buyers can choose from today and how your particular suite compares.

What Is the Average Toronto Condo Price in 2026?

According to the Toronto Regional Real Estate Board’s September 2026 market statistics, the average selling price for a condominium apartment in the City of Toronto was approximately $640,248.

That’s useful market information, but it doesn’t mean your condo is worth $640,248. The average includes different neighbourhoods, building types, suite sizes and property conditions. A large two-bedroom corner suite in a desirable downtown building cannot be valued the same way as a smaller one-bedroom apartment elsewhere in the city.

It’s also important to consider the direction of the market. As of September 2026, Toronto-area buyers were navigating softer prices and considerable economic uncertainty. That makes an accurate, property-specific evaluation particularly important.

Source: TRREB Market Watch — September 2026

Start With Recent Sales in Your Building

When I evaluate a Toronto condo, I start by looking for recent sales in the same building. These often provide the most relevant comparisons because the properties share a location, common elements, amenities and building reputation.

However, even suites in the same building may not be directly comparable. A higher-floor unit with an unobstructed view may appeal to a different buyer than a lower-floor suite overlooking another building. A functional layout can sometimes matter more than the total square footage.

I also review how long comparable properties took to sell, whether their asking prices were reduced and how their final selling prices compared with their original list prices.

What Features Affect Your Condo’s Value?

Your condo’s size and location are important, but they’re only part of the picture. Floor level, exposure, views, parking, a locker, outdoor space, renovations and general condition can all influence what buyers are prepared to pay.

Maintenance fees also matter. Buyers consider the monthly cost of ownership, particularly when comparing similar suites in different buildings. The amount of the fee, what it includes and the overall condition and financial health of the condominium corporation can influence a buyer’s decision.

Building reputation, amenities, reserve fund considerations and the availability of competing units are also important. A beautifully maintained suite may still face challenges if several similar properties in the building are sitting unsold.

Why Online Condo Value Estimates Can Be Misleading

Online estimates can be a convenient starting point, but they don’t always account for the details that make one condominium different from another.

An automated estimate may not fully reflect your suite’s condition, renovations, views, unusual layout or the current competition in your building. It may also rely on older transactions that no longer represent what buyers are willing to pay today.

For that reason, I prefer a comparative market analysis based on current MLS® information, supported by a review of the actual property whenever possible.

Your Asking Price and Market Value Are Not the Same Thing

An asking price is part of your marketing strategy. Market value is an estimate of what a willing buyer may reasonably pay under current market conditions.

Some sellers price competitively to attract attention, while others start higher to leave room for negotiation. Neither approach guarantees a better result.

The right strategy depends on buyer demand, recent comparable sales, the number of competing listings and your own circumstances. Starting too high can discourage early interest and result in unnecessary time on the market.

My Advice to Toronto Condo Owners

Before deciding whether to sell, establish a realistic value range for your specific condo. Don’t base an important financial decision on what a neighbour is asking or what your property might have sold for a year or two ago.

I recommend reviewing the recent sales, today’s competition and the unique features of your suite. From there, we can discuss an asking-price strategy, likely selling expenses and what you could reasonably expect to walk away with.

An in-person walkthrough provides the clearest picture of your property’s condition and features. If you’re only beginning to explore your options, we can start with a preliminary discussion.

Frequently Asked Questions About Toronto Condo Values

How can I find out what my Toronto condo is worth?

A professional comparative market analysis examines recent sales, current listings and the features of your specific property. It provides an evidence-based estimate of market value, although it is not a formal appraisal.

Are condos in the same building worth the same amount per square foot?

Not necessarily. Floor level, layout, exposure, condition, outdoor space and views can create meaningful differences in value between suites in the same building.

Do high maintenance fees lower a condo’s value?

They can affect buyer affordability and demand, particularly when comparable buildings have lower monthly costs. However, buyers also consider what the fees include and the building’s financial condition.

Should I renovate before selling my Toronto condo?

That depends on the work required and what similar properties are selling for. Cleaning, painting and minor repairs often make sense, but expensive renovations don’t always deliver an equivalent increase in selling price.

Can I get a condo evaluation without committing to sell?

Yes. Understanding your property’s estimated value can help you make decisions about selling, refinancing, purchasing another home or simply planning ahead. An evaluation does not require you to list your property.

Jarrett Hunter, Realtor® | RE/MAX Your Community Realty | Toronto, Ontario