10 most expensive places to buy a condo in Ontario

A condo purchase is often seen as a chance for first-time home buyers to get into the market but those looking in the Mississauga area will pay higher prices than most other cities in Canada.

A list of the most affordable places to buy a condo puts much of the GTA above average, according to a new report from real estate brokerage Zoocasa.

The national average price of a condo is $541,500 as of October 2023, according to the Canadian Real Estate Association, down 0.4 per cent on a monthly basis.

But buyers will find most condos in the GTA at least $100,000 higher than the national average.

The benchmark price for a condo in Mississauga sits at $645,200, nearly unchanged, down 0.2 per cent from year-ago levels, according to the Mississauga Real Estate Board’s October 2023 report.

The average price for condo apartments declined 3.9 per cent month-over-month to $626,630 in October, according to Zoocasa.

So, where can a buyer find a more affordable price?

“For those looking to buy in Ontario, the most affordable place to call ‘home sweet home’ right now is in Grey Bruce Owen Sound,” Zoocasa notes.

Here, the average condo price is $336,200, almost 38 per cent below the national average.

For those looking to move out of province, the most affordable place to buy a condo is Edmonton where the average price is only $180,600.

This is a striking contrast compared to the most expensive place, Vancouver, where a condo could cost you an average of $770,200, according to Zoocasa. Lower Mainland, BC, is the second most expensive.

Toronto is third at $703,500, Oakville-Milton is fourth at $669,300, and Mississauga is fifth most expensive on the list at $645,200.

Hamilton-Burlington is seventh on the list at $556,100.

To see the complete report, see the full Zoocasa post here.