Detached Houses Are Stuck. Condos Are Moving. In North York Toronto.

A lot of you really liked the video where we deep dive into the sales and rental data in downtown Toronto.

So today, let’s dive into another popular pocket of the city, North York.

Specifically we will go from Yonge St on the west to Leslie on the east, north from Finch to York Mills on the south.

This area is very interesting because it has a unique blend of high-rise and low rise homes.

In this video, we’re going to look at sales data in the first quarter of the year, minus the most recent weekend.

We’ll break it down by property type: condos, townhouses and detached homes.

And of course, we’ll compare 2025 with 2024.

Let’s get into it!

Let’s start with condos.

In the first quarter of this year, 180 units were sold, that’s a 22% drop compared to the same period in 2024.

Just like what we saw downtown, studio units remain the least popular, only 2 studio units were sold, at around $400,000.

36 one bedroom units were sold, with a median price of $510,000.

49 one plus den units sold, with a median price $576,000.

2 bedroom units made up almost half of the total sales, 87 units sold, with a median price of $775,000.

3 bedroom units, only 6 units sold, with a median price of $1.275 million dollars.

Very much like downtown, it is an end-user driven market, buyers are taking advantage of lower prices to buy as much space as they can afford, so the bigger 2 bedroom units are the most popular.

Let’s take a look at the months of inventory.

There are actually only 6 studio units available for sale right now.

But given that only 2 units were sold in a quarter, simply going by math, it will take another 9 months to absorb the supply.

It is the worst time to sell a studio.

Prices are low, and buyers are aiming to stretch their dollars for more space.

1 bedroom, 1+Den, 2 bedroom are all doing pretty well.

They only have around 5 months of inventory, which means a well balanced market.

3 bedroom, 11.5 months of inventory, 

That’s because of the price point, the majority of them are over $1 million dollars, which naturally limits the buyer pool.

Now, let’s move on to townhouses.

And I’m including condo townhouses, freehold townhouses and semi-detached in this category as well.

There were a total of 39 townhouses sold in the first quarter of this year, that’s actually 5% more than the same period last year.

Out of the 39 sales, how many do you think were condo townhouses?

31.

With a median price of $979,000.

Freehold townhouses, 5 sold, with a median price of $1.635 million dollars.

Semi-detached, only 3 sold, with a median price of $1.18 million dollars.

Condo townhouse actually made up 80% of the sales in this category.

That’s because of the high price point in this area.

Freehold townhouses are pushing above $1.6 million dollars, while condo townhouses are sitting at around one million dollars.

For many buyers, the price gap makes condo townhouses a much more attractive entry point into the market.

And this is exactly what I have been saying, when the gap between freehold and condo prices gets wider, condos become the more attractive option.

It’s the same pattern we see time and time again:

When prices are low, buyers aim for more space, larger units become more popular.

When prices are high, people shift to smaller, more affordable options.

Prices go up and down, that’s just part of the cycle.

Now, let’s take a look at the months of inventory.

Condo townhouses have 4.4 months of inventory.

Townhouses, 4.6 months.

They are both doing pretty well, in a well-balanced market.

When the months of inventory get below 4, it will be considered a seller’s market.

Semi-detached is rare, only 1 month of inventory.

Let’s move on to detached houses.

45 detached houses were sold in this area during the first quarter of 2025.

That’s actually a big 43% drop compared to the same period last year.

Is it the price point?

The median price for a detached house was $2.28 million dollars in 2024, and this year it’s $2.24 million, so they are about the same.

So let’s dig deeper into the numbers.

In the $1 to $2 million range, there were 20 sales in 2024 and 11 this year, a 45% drop.

In the $2 to $3 million range, sales dropped 46% from 26 vs 14.

In the $3 to $4 million range, we went from 12 to 7 sales, a 42% drop.

(Show the rest…)As you can see, the percentage drop is pretty consistent across all price segments.

In terms of inventory, detached homes in this pocket have a shocking 13.5 months of inventory.

Detached homes here are facing the same struggle as studios downtown.

Studios downtown are too small.

Detached homes in North York are too expensive.

In a slow market, what’s moving are the commodity type homes, properties priced between $600,000 and $1.2 million.

That’s where the bulk of the current demand is.

I hope you find this video interesting.

If there is a particular area you want me to analyze, please comment below and let me know.