Apartments For Sale In North York

Discover Apartments for Sale in North York: Exclusive Condos in a Prime Location

➤ The average listing price of condos for sale in North York is $ 625,992

➤ The average sold price of North York condos is $ 629,855

➤ Total condos in North York listed for sale are 780

Do you enjoy the fun and excitement of Toronto, but find the houses too expensive? Then, North York might be a place for you. It is only 12 km from Toronto, and the houses are less costly. You can choose a condo in North York, which usually costs less than a detached house. Condo units offer amenities like a pool, gym, party room, and meditation hall, allowing residents to enjoy these facilities alongside other residents in the building. This is an opportunity to meet new friends and develop a community bond with each other. If you want to see apartments for sale in North York, you can look at the MLS listings on our website and find your perfect home.

What Is the Market Saying About the Condo Prices? 

The housing market of North York showcases it as a luxury area. The average listing price of a condo for sale in North York is $ 625,992 , and there are 780 condos in the current listing. The most affordable condos in North York start at $400,000, and the luxury condominiums in North York exceed $1.5 million. If you are looking for a standard 1-bedroom condo, you must have a budget between $550,000 and $700,000. If your requirement is a 2-bedroom condo, then you should have $700,000 to $900,000.

Why Buy a Condo in North York? 

Closest City to Toronto

While there are many cities and towns to the north, south, east, and west of Toronto, the one which is closest to the capital city of Ontario province is North York. You may glance through the distances between Toronto and the nearby cities listed.

A Good Deal of Condo Inventory

According to the 2011 census, nearly 60% of the city's inhabitants live in apartments, and only 38% reside in North York detached houses. The dominance of apartments over detached houses, semi-detached houses, or townhouses in Ontario is a rare scenario. The high inventory of apartments for sale offers an immense choice for buyers.

Condo Price Comparison

It is true that North York is one of the most expensive cities. Although the majority of condos fall into the $500,000 to $700,000 category, there are many that are below $500,000.

It is also noticeable that condo prices in North York are cheaper than those in Toronto. And if you look at the cost per square foot, it again falls quite similar to the ones in nearby cities of Toronto.

One more thing: when comparing condo prices to other types of properties for sale, such as detached homes, semi-detached homes, or townhouses, condos consistently cost the least.

Looking for a rental property in North York or Toronto? Don't be surprised to find the condos for rent in North York as the most affordable choice. The rental charges in North York are as follows.

Steps To Buy a Condominium

1. Start saving and managing your finances for a new home. Meanwhile, read some real estate blogs to get an idea of the latest trends in the housing market.

2. Get your mortgages preapproved to showcase yourself as a potential buyer.
3. Meet a real estate agent with market insights who will tailor a condo best suited for you.
4. Start searching on the MLS and choose a neighbourhood according to your needs and necessities with the help of a realtor. You can go through recently sold properties to check for a fair price.
5. Attend open houses in multiple neighbourhoods and talk with the neighbours. Keep a note of this for your future reference.
6. Choose the best home that is suitable for your current lifestyle and future needs.
7. Allow your realtor to proceed with the documentation and close a deal.
8. The 10-day cooling-off period is valid for new and pre-construction condominiums. If you have no second thoughts, close the deal and start living in your new home.

Financial Considerations for a North York Condo

When you are about to buy a condo in North York, just like the steps involved in the buying process, you need to be aware of the finances involved. Let us analyse the rough amount you will need to target a condo in a particular bracket.

Let us assume the Condo price is $700,000. 

• Minimum Down payment - $45,000
• Mortgage Amount - $655,000

As the mortgage is below 20% of the purchase price, you need to pay mortgage insurance.

• Insurance for minimum down payment - $26,200

The insurance premium decreases with an increase in down payment. If you pay 20% of the purchase price, that is $140,000 as a down payment, you will be excluded from this CMHC insurance.

The amortisation period is 30 years for first-time buyers and 25 years for others. Interest rates vary between 3.84% and 7% depending on the lender.

• Setting the amortisation period as 25 years and the mortgage rate as 5%, the monthly mortgage payment is $3,982.
• With $140,000 as a down payment, a 25-year amortisation period and 5% mortgage, the monthly payment is $3,274.

Thus, in a month, you save $708; in a year, it is $8,496, and over a period of 25 years, it is $212,400.

With a shorter amortisation period, the total amount you repay will also be less.

Do you want to find out the difference in numbers with a shorter amortisation period, a different interest rate, and higher down payments? Use the mortgage calculator.

In addition to down payment and mortgage insurance, you need to save money for Land Transfer Tax, Maintenance Fees, Lawyer Fees, Title Insurance, Home Inspection Fees, Appraisal Fees, and other expenses. This will be around $20,000.

Top 7 Neighbourhoods of North York for Buying a Condo 

Coming next is the neighbourhood search. This is equally important as any other step, as a wrong neighbourhood can take away all your happiness and peace of mind. You need to have the right home, at the right location and next to the right neighbour. North York has neighbourhoods that are aesthetically and functionally tailored for the needs of all kinds of customers. There are numerous top-rated schools and the North York General Hospital for immediate medical needs.

Willowdale

Best for Young professionals, families, and investors.

Housing types consist of single-family houses, townhouses, and condominiums. 75% of the houses are condos, making it the dominant type of residential building in Willowdale. Pre-construction properties for sale include not only traditional homes and condominiums but also affordable studio apartments. Transportation facilities include a Subway Station, multiple bus routes, easy access to highways and taxis. Major parks are Bathurst Park, Edithvale Park, and Sheppard East Park.

Bayview Village

Best for Affluent professionals, retirees, and families.

This area has a mix of Georgian-style homes, renovated homes, ranches, and luxury condominiums for sale in North York. The inventory of houses for sale here has 60% as condos. The subway station at Sheppard Avenue serves the rails, and highways 401 and Don Valley Parkway facilitate road journeys, making it a desirable location for commuters. 25% of the Village is green space with a 5.2-hectare Bayview Village Park featuring playgrounds, sports and games courts. North York General Hospital is in this area.

Yonge & Sheppard

Best for Urban professionals, students, and investors.

This area has a high walkability score (99), and when you walk through the streets, you will notice condos, houses and townhouses for sale in North York. This is a major transit hub, and condos dominate in this area. Albert Standing Park and Glendora Park are great choices to spend your evenings with family and children. The Yonge Sheppard Centre has provisions for shopping and dining. This region has plenty of properties ideal for investments.

Don Mills

Best for Young families, professionals, downsizers

Bungalows, detached homes, condos, and townhouses for sale and rent are commonly spotted in this neighbourhood. This region is a perfect example of suburban planning with industrial, commercial, and residential areas. Moccasin Trail Park and Bond Park are on the premises.

Henry Farm

Best for Families, students, first-time buyers

This region is also highly noted for its family-friendly community and a plethora of housing options. Low-density houses, such as 1 to 4-bedroom detached homes and semi-detached homes, as well as high-density dwellings, such as North York condos, are scattered around, attracting families. If you are a first-time homebuyer, never miss an opportunity to attend an open house here because you may find one that fits into your budget. Havenbrook Park and Parkway Forest Park are the parks here.

Downsview

Best for Young families, first-time buyers, investors

A region that emerged from a farmland is now well known for Downsview Park. Industrial areas are near this neighbourhood. This region has a lot of ongoing developments in commercial and affordable housing.

Don Valley Village

Best for Students, young professionals, and families

This region also has a high concentration of condos, with other types of houses for sale and rent. The Fairview Mall is ideal for shopping, dining, and entertainment. Dallington Park, Godstone Park, Hobart Park, Linus Park, Lescon Park, and Oriole Park provide green spaces for walking or playing. North York General Hospital is located within the neighbourhood. 

Things To Do in North York During Weekends

Everyone goes through mixed emotions in a day, and to shed those, you may need a park or a relaxing spot near your home, maybe at a walkable distance or a short ride. What if the city you chose doesn't have enough for recreation? Luckily, North York doesn't fall into that category. There is enough space around for an evening or weekend.

Downsview Park: The park is a complete package for a family. It features an outdoor gathering area, an exercise equipment zone, multiple trails, a play zone, a festival terrace, forest exploration, a meeting hub, and many other amenities, all of which are available in abundance.

Gibson House Museum: To the north of the Centre subway station lies this historic museum. This is a Georgian Revival-style 1851 farmhouse, constructed in red brick.

The Village at Black Creek: You can experience a recreated Ontario village from the 19th century here. There are restored buildings, rare and heritage-breed animals, a garden section (Herb Garden, Berry Garden, and Market Garden)and authentic 19th-century artefacts. The centre offers learning experiences and featured programs for children.

Meridian Arts Centre: If you enjoy performing arts, this place has George Weston Recital Hall (1,036 seats), the Lyric Theatre (576 seats), the Greenwin Theatre (296 seats), and a Studio Theatre to entertain you. This is close to the TTC subway and has North York condos for sale.

As Toronto is only a 20-minute drive from the city, you can also enjoy your weekends there.

High-End Living Begins Here

With a condo in North York, you embrace a luxurious lifestyle at an elite location. This place offers opportunities in both the city and Toronto. The inventory is rich, and you may feel like a child in a candy store when you see the abundance of condos here. Stop waiting, start your work today itself, and you can be in touch with our team anytime.