These 5 Stunning Downtown Toronto Condos Are Selling For Under $500K & One Is Pretty Big

Is Toronto your ride-or-die? Are you looking for a way to put roots down in the 6ix without winning the lottery? Are you sick of being baited by questions? Well, then. Let's look at condos.

According to Strata, the city's condo market has dropped by 9% since February, a shift that has sellers willing to negotiate. As a result, buyers are now routinely paying almost 2% under asking, whereas 6 months ago, they were paying 10% over asking.

And these five stunning, yet affordable, units are the hard evidence.

The cheapest condo on the list is 20 Bruyeres Mews, Unit 1102, a one-bedroom suite in Fort York for $498,000. The 500 square feet unit's open-concept design and floor-to-ceiling windows allow plenty of natural light.

20 Bruyeres Mews, Unit 1102Photos via Strata.ca

28 Wellesley St. E., Unit 211, is selling for $499,900. This tiny but mighty studio condo offers 390 square feet of living space. The suite's open layout makes it feel more cozy than cramped, and its downtown location makes amenities easily accessible.

28 Wellesley St. E., Unit 211Photos via Strata.ca

If Yonge and Dundas Square is your vibe, then 251 Jarvis St., Unit 1404, selling for $499,900, could be your spot. The 360 square feet isn't the largest spot on the block, but its modern aesthetic and close distance to the Eaton Centre is a downtowners dream.

251 Jarvis St., Unit 1404Photos via Strata.ca

If you're an artist whose career is taking off, you'll benefit from living at 78 St. Patrick St., Unit 100, for $499,900. The unit is a two-level loft that offers a whopping 1,000 square feet of living space. Also, it's located in Grange Park, putting its owner steps away from the AGO and Queen Street West.

78 St. Patrick St., Unit 100Photos via Strata.ca

This $499,900 condo on 36 Blue Jays Way, Unit 525, is the second largest unit on the list, offering nearly 600 square feet of living space. It's a highly sought-after King West location, and its floor-to-ceiling ensures it's lit. Get it?

36 Blue Jays Way, Unit 525Photos via Strata.ca

Condos may offer Millennials and Zoomers a chance to cement their status in Toronto. In July, sales of new condominium apartments, including high-rise buildings, stacked townhouses, and loft units, were up 5% from 2021 and 3% above the 10-year average.