Published 27 September 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
Treat it as a starting range, not a price. An online estimate is built from recorded sales in and around your building, so it is usually closest for a common layout in a building that sells often and furthest off for anything unusual: a high floor, an unobstructed view, a corner unit, two parking spaces, a big terrace, a recent renovation, or a building where nothing has sold lately. It also cannot read your status certificate, your maintenance fee trend or whether a special assessment is coming. In August 2026 TRREB recorded a $651,648 average and a $550,000 median for City of Toronto condo apartments, a $100,000 gap that shows how easily a single headline number misleads. Check any estimate against three recent sales of the same layout, adjusted for floor, view and parking, before you list.
How an online estimate is made
Every automated valuation starts from recorded sales. The model looks at what sold in your building and the buildings around it, weights the recent and similar ones more heavily, and applies a trend for the months since those sales closed. In a busy tower where the same one-bedroom layout sells every few weeks, that method works reasonably well, because the comparable sales really are comparable. In a smaller building, or for a unit that is different from its neighbours, the model is filling gaps with guesses.
The model also sees less than you think. It generally knows the address, the square footage band if it was ever listed, the number of bedrooms and bathrooms, and the prices of nearby sales. It rarely knows which way your windows face, whether the neighbouring lot is about to get a 40-storey tower, whether your kitchen was redone last year, or whether the corporation just raised fees by 12 percent. Those are exactly the details a buyer pays for or discounts.
Six things about your unit an estimate cannot see
- Floor and view. Two identical layouts ten floors apart in the same tower can sell tens of thousands of dollars apart, and a protected lake or park view is worth more than a view that will be blocked by construction.
- Exposure and light. South and west exposures usually photograph and show better; a north-facing unit over a laneway usually needs a sharper price.
- Parking and locker. Whether the unit comes with a parking space, a locker, or both, and whether they are owned or exclusive-use, changes the buyer pool.
- Condition. A 2012 builder-grade kitchen and a 2025 renovation look the same to a model that only reads the address.
- The corporation. Maintenance fees, the reserve fund, pending special assessments and any litigation all appear in the status certificate, and a model never reads it.
- Timing. Estimates trail the market. When prices are drifting, as they have been across the GTA condo market this year, the number on screen can be a quarter behind.
Why the headline numbers mislead too
It is not only the automated tools. The market figures people quote are averages, and condo averages are pulled upward by a small number of large, expensive units. TRREB’s own August 2026 tables show it clearly:
| Area (condo apartments) | Sales | Average price | Median price | Gap |
|---|---|---|---|---|
| All TRREB areas | 1,330 | $617,593 | $530,000 | $87,593 |
| City of Toronto | 885 | $651,648 | $550,000 | $101,648 |
| Toronto Central | 598 | $698,321 | $576,900 | $121,421 |
| Toronto West | 160 | $583,024 | $525,000 | $58,024 |
| Toronto East | 127 | $518,333 | $482,000 | $36,333 |
The median is the middle sale, and for a typical one-bedroom or one-plus-den it is the better anchor. The average tells you where the money went, not what a normal unit is worth. Across the GTA, condo apartments sold for 96 percent of their final list price on average in August, which is a reminder that the list price is not the price either.
When an online estimate is most likely to be wrong
From the pricing work I do every week, the estimate is least reliable in five situations. First, a building with few sales in the last six months, where the model is reaching back to a different market. Second, a unit that is unusual for its building: the penthouse, the corner two-bedroom, the ground-floor unit with a big terrace. Third, a unit whose last recorded sale was years ago and has since been renovated. Fourth, a building where something has changed, such as a special assessment, a large fee increase, or a new tower going up next door. Fifth, a fast-moving market, where recent months matter more than the averaging allows. If your unit fits any of these, expect the estimate to be off by more than you would like, in either direction.
A four-step check before you trust any number
- Find three recent sales of the same layout. Same building if possible, otherwise the closest similar buildings, sold in the last three to six months. Sold, not listed: asking prices tell you what sellers hope for. Our building sold report will pull them for you.
- Adjust for the differences. Floor, view, exposure, parking, locker and condition. Write down each adjustment and why, so you can defend the number to a buyer’s agent.
- Read the corporation. Order or review the status certificate early. A strong reserve fund and stable fees support the price; a special assessment or a lawsuit will come off it.
- Look at what you are competing with. The active listings in your building and the next two are your real competition. If there are six similar units for sale and yours is priced above them, it will sit.
Two tools help here: the AI condo value estimator below gives you a range in about a minute, and the net proceeds calculator turns any price into what actually lands in your account.
What to do with the estimate
Use it as a sanity check at both ends. If your own comparable-sale work lands close to the estimate, you have a defensible range. If it lands far away, find out why before you list: either the model is missing something about your unit, or you are. The most expensive mistake I see is a seller who lists at the highest estimate they found online, watches the listing go stale for five weeks, and then sells for less than they would have got in week one at the right price. Stale listings attract low offers, and buyers can see the days on market.
Where I fit
I price condos from sold data, not screens, and I have helped more than 100 families sell theirs. If you want a second opinion on the number you found, run the estimator below, then book a call and I will walk you through the three sales that matter for your unit.
Free tool — AI condo value estimator
Condo Valuation
What’s your condo
worth today?
Three quick steps. Condos don’t price like houses — your floor, your view, and whether you own parking move the number more than anything else. This weighs all of them.
Reading recent condo sales…
Estimated market value
—
$0–$0
Most likely $0 · about $0 per square foot
What moved the number
Starting from what comparable units in your area sell for, here’s what your specifics added or subtracted.
Market context
—
—
Two units, same floor plan,
$90,000 apart.
That happens constantly in condos — one has the parking, the right exposure, or a board that keeps the reserve fund healthy. A model can’t see your status certificate. I can.
What is a condo worth in your area?
August 2026 prices by city and district: Etobicoke · North York · Scarborough · Downtown Toronto · Midtown Toronto · Liberty Village / King West · Markham · Richmond Hill · Oakville · Burlington · Milton · Brampton · Pickering / Ajax · Whitby / Oshawa · Mississauga · Vaughan. Or run the AI condo value estimator for a range on your own unit.
Frequently asked questions
How accurate are online condo estimates in Toronto?
They are closest for common layouts in buildings that sell often and furthest off for unusual units, buildings with few recent sales, or anything recently renovated. No Canadian regulator publishes an accuracy figure for these tools, so treat any estimate as a range to test against recent sold prices.
Why is my condo estimate different on every website?
Each site uses different sales data, different weights and different time windows, and none of them can see your floor, view, condition or the corporation’s finances. Differences of tens of thousands of dollars between tools are normal.
Should I use the average or the median price for my condo?
The median. In August 2026 TRREB recorded a $651,648 average but a $550,000 median for City of Toronto condo apartments; expensive units pull the average up, so the median is the better anchor for a typical unit.
Do condos sell for their list price in Toronto?
On average, not quite. TRREB’s August 2026 figures show GTA condo apartments selling for 96 percent of their final list price, with City of Toronto also at 96 percent.
What affects my condo’s value most?
Layout and size first, then floor, view and exposure, parking and locker, condition, and the corporation’s health: maintenance fees, reserve fund and any special assessment.
How do I get an accurate price for my condo?
Start from three recent sales of the same layout, adjust for floor, view, parking and condition, read the status certificate, and compare against the units currently for sale. A broker’s written pricing analysis does exactly this.
Sources
- TRREB — Market Watch, August 2026 — condominium apartment tables by region and municipality
- Condominium Authority of Ontario — Status certificates — 10 days, up to $100, Condominium Act s. 76
Related reading
- What is a comparative market analysis (CMA)?
- How to find sold prices in Toronto
- When to lower your asking price
- Best realtor for condos in Toronto
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Etobicoke. I work with buyers and sellers across Toronto and the GTA, and I have helped more than 100 families sell their condos. Four-plus years of active GTA transactions and over $100 million in sales volume. Every market figure here comes from TRREB’s published tables and every rule from the regulator or the legislation, so you can check all of it without asking me.
Reach me at connect@jatindua.com or 833-330-1925, or book a call.