Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
For buyers staying five years or more, 2027 can be a good time: Queensway-area condo medians fell 8% to 13% over two years, to $584,000 in W07 and $525,000 in W08. Renting is still cheaper month to month, rates rose in October 2026, and road work starts on the corridor, so buy only with room in your budget.
This post is for anyone deciding whether to buy a condo on The Queensway in Etobicoke in 2027, whether it is your first home, a move from renting, or a downsize. You get the price trend, the real cash and monthly cost of a typical unit, a rent-versus-buy comparison, the risks specific to this corridor next year, and a clear “who should buy and who should wait”.
Is 2027 a good time to buy a condo on The Queensway?
For the right buyer, it can be. Condo prices in the two TRREB districts that cover The Queensway are well below their 2024 levels, buyers have plenty of choice, and new supply across the region is shrinking. Against that, interest rates started rising again in October 2026, and the corridor faces major road work in 2027.
My view, and it is only my view: 2027 favours buyers who will live in the unit for five years or more, have stable income, and buy the right unit in a well-run building at today’s prices. It does not favour short-term flips or buyers stretching to their limit.
How much have Queensway condo prices dropped?
Using TRREB MLS data via REALM for January to October each year, the median condo apartment in W08, which covers the western part of the corridor, fell from $603,500 in 2024 to $575,000 in 2025 and $525,000 in 2026. That is about 13% over two years. In W07 (Stonegate-Queensway), the eastern part, the median fell from $635,000 to $615,000 to $584,000, about 8%, on a much smaller number of sales.
TRREB’s benchmark price, which adjusts for the type of unit sold, shows the same direction. In October 2026 the apartment benchmark was $523,600 in W07, down 8.01% from a year earlier, and $526,600 in W08, down 4.50%. For the full district breakdown, see my Queensway condo price numbers.
What does it cost to buy a $525,000 condo on The Queensway?
Here is the math on a unit at the 2026 W08 median price, inside the City of Toronto, so both land transfer taxes apply. Mortgage payments are shown at an illustrative 4.5% rate over 25 years; they are examples, not quotes.
| Cost item | Amount | Notes |
|---|---|---|
| Minimum down payment | $27,500 | 5% of the first $500,000 plus 10% of the remaining $25,000 |
| CMHC insurance premium (minimum down) | $19,900 | 4.00% of a $497,500 loan, added to the mortgage |
| Ontario land transfer tax | $6,975 | First-time buyers can get a refund of up to $4,000 |
| Toronto municipal land transfer tax | $6,975 | First-time buyers can get a rebate of up to $4,475 |
| Monthly mortgage, minimum down | About $2,864 | $517,400 insured loan, 4.5%, 25 years |
| Monthly mortgage, 20% down ($105,000) | About $2,325 | $420,000 loan, 4.5%, 25 years |
| Property tax | 0.767311% of assessed value a year | Toronto’s 2026 total residential rate, applied to the MPAC assessment, not the price |
| Condo fees | Varies by building | Check the status certificate and fee history |
Sources: TRREB MLS data via REALM (W08 median, January–October 2026); CMHC premium schedule; Ontario and City of Toronto land transfer tax rates; City of Toronto 2026 property tax rates. Payments calculated with Canadian semi-annual compounding.
A first-time buyer who qualifies for both land transfer tax breaks would pay about $5,475 in combined land transfer tax instead of $13,950. Budget separately for legal fees, title insurance and the status certificate review. More on the municipal tax is in Toronto land transfer tax explained.
Is it cheaper to rent or buy on The Queensway in 2027?
Month to month, renting is usually cheaper right now. TRREB’s Rental Market Report for Q2 2026 shows average one-bedroom condo leases of $2,172 in W08 and $2,199 in W07, and two-bedrooms at $2,828 and $2,725. Compare that with the $2,325 to $2,864 mortgage payment above, before fees and property tax.
Buying wins only if you stay long enough for principal repayment and any price recovery to outweigh the higher monthly cost and the closing costs. That usually means years, not months. The broader math is in my rent or buy in the GTA for 2027 guide.
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 could make a Queensway condo a good buy in 2027?
- Lower entry prices. A two-year drop of 8% to 13% in the district medians gives buyers more room than at any time in recent years.
- Shrinking new supply. Urbanation reported in October 2026 that GTHA condo completions are scheduled to fall from 20,868 units in 2026 to 15,825 in 2027 and 12,065 in 2028, and that construction starts in the first nine months of 2026 were 82% below the ten-year average. Fewer new units competing for buyers and tenants could help resale values later in the decade.
- Negotiating power. W08 had 256 active condo apartment listings in October 2026 against 54 sales that month, according to TRREB’s Market Watch. Sale prices averaged 97% of list.
- Everyday convenience. Groceries, gyms and services along the street, and quick access to the Gardiner and Highway 427, are the corridor’s lasting strengths. My honest list of pros and cons is in why buy a condo on The Queensway.
What are the risks of buying on The Queensway in 2027?
- Rates. The Bank of Canada raised its policy rate to 2.50% on 28 October 2026 and said a further increase could be needed. Its next decision is 9 December 2026. Variable-rate payments rise with prime, which reached 4.70%.
- Still-falling outer-416 prices. Urbanation reported average resale condo prices per square foot down 7.9% from a year earlier in the outer 416 in Q3 2026, against 2.8% in the former City of Toronto. The bottom is not confirmed.
- Construction on the street. The City of Toronto says construction of The Queensway Complete Street, which adds raised protected cycle tracks from the Humber River to Burma Drive, is anticipated to start in 2027. The City also schedules full rehabilitation of Gardiner Expressway Section 3 to start as soon as 2027. I cover the street project in my post on the Queensway Complete Street.
- Competition when you sell. Thousands of approved units on nearby sites mean more small suites competing with yours in future.
- Young reserve funds. Many buildings on the corridor are newer, so fees can climb as reserve fund studies are updated.
Lenders qualify you at the higher of 5.25% or your contract rate plus 2 points, so at a 4.5% contract rate you must show you can carry the mortgage at 6.5%. If your budget only works at today’s rate, a rate rise at renewal could hurt. Run your numbers at a higher rate before you bid.
Should you buy a new or resale condo on The Queensway?
New units come with tax relief that resale does not. Eligible first-time buyers can get full relief from the federal part of the HST on a new home up to $1 million, reduced between $1 million and $1.5 million. Ontario’s enhanced new housing rebate, according to CRA Notice 346, covers the full 8% Ontario part of the HST up to $80,000 on homes up to $1 million, for agreements signed from 1 April 2026 to 31 March 2027. Confirm eligibility with your lawyer before signing.
Resale gives you something a new build cannot: a finished building, a status certificate with a real reserve fund, a fee history, and a unit you can stand in. For the projects still selling, see my comparison of pre-construction on The Queensway.
Who should buy a Queensway condo in 2027, and who should wait?
| Buy in 2027 if | Wait if |
|---|---|
| You plan to live there five years or more | You may move within two or three years |
| Your payment works at a rate 2 points higher | Your budget only works at today’s rate |
| You drive, or commute west, north or to the airport | You need a subway station at your door |
| You have found a unit in a building with a healthy reserve fund | You are relying on a quick price rebound |
| You can live with road work in 2027 | Construction noise is a deal-breaker |
Source: author’s assessment, based on the TRREB, Urbanation and Bank of Canada data above, as of November 2026.
If I were buying on The Queensway in 2027, I would skip the smallest one-bedrooms, which face the most competition, and look for a well-laid-out one-plus-den or two-bedroom in an established building with parking, a solid reserve fund and a unit that does not face the road. I would offer based on that building’s last few sales, not the asking price, and I would only buy with a payment I could carry at a rate well above today’s.
What to do next
- Get a mortgage pre-approval and test your payment at a rate at least 2 points higher.
- Shortlist two or three buildings and pull their last 12 months of sales and leases.
- Read each building’s status certificate, reserve fund study and fee history before you firm up.
- Check whether you qualify for first-time buyer land transfer tax rebates or the new-home HST relief.
- Visit at rush hour and stand in the bedroom with the window open before you make an offer.
Need help with this? Talk to me.
I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].
Frequently asked questions
Is it a good time to buy a condo on the Queensway?
For long-term buyers, 2027 offers better prices and more choice than recent years. The median condo apartment in TRREB district W08, which covers the western Queensway, fell about 13% from 2024 to 2026, according to TRREB MLS data via REALM. Rising rates since October 2026 and road work on the corridor in 2027 are the main reasons for caution.
Are Queensway condos a good investment in 2027?
They can be, but the numbers are tight. Average one-bedroom condo rents in W08 were $2,172 in Q2 2026, according to TRREB, while a $525,000 unit with 20% down costs about $2,325 a month at an illustrative 4.5% rate before fees and tax. Investors are relying on rents rising and Urbanation’s forecast of falling supply.
How much do I need to buy a condo on the Queensway?
About $27,500 for the minimum down payment on a $525,000 condo, the 2026 median in TRREB district W08, plus about $13,950 in Ontario and Toronto land transfer tax, less up to $8,475 in first-time buyer rebates. Add legal fees, title insurance and a status certificate review. CMHC insurance of about $19,900 is added to the mortgage.
What is the monthly cost of a condo on the Queensway?
Roughly $2,300 to $2,900 a month for the mortgage on a $525,000 Queensway-area condo, depending on your down payment, at an illustrative 4.5% rate over 25 years. Add condo fees, which vary by building, and Toronto property tax at 0.767311% of the MPAC assessed value in 2026. Insurance and utilities not covered by fees are extra.
Is it cheaper to rent or buy a condo on the Queensway?
Renting is cheaper month to month in 2027. TRREB’s Q2 2026 report shows average one-bedroom condo rents of $2,172 in W08 and $2,199 in W07, below the $2,325 to $2,864 monthly mortgage on a $525,000 unit at an illustrative 4.5% rate. Buying pays off only if you stay several years.
Will Queensway condo prices recover in 2027?
It is uncertain. Urbanation reported in October 2026 that GTHA condo completions will fall to 15,825 units in 2027 and that rents began rising in Q3, which could support prices. But resale condo prices per square foot in the outer 416 were still down 7.9% year over year, and the Bank of Canada raised rates in October 2026.
Should I buy a new or resale condo on the Queensway in 2027?
Resale lets you see the finished building, fees and reserve fund. New condos may qualify for tax relief: eligible first-time buyers can get full relief from the federal HST part on new homes up to $1 million, and Ontario’s enhanced rebate covers up to $80,000 for agreements signed between 1 April 2026 and 31 March 2027. Confirm eligibility with a lawyer.
What are the downsides of living on the Queensway?
The Queensway is a busy arterial road, there is no subway station on the corridor, many buildings are young with reserve funds still building up, and there are many similar units competing at resale. The City of Toronto expects construction on The Queensway Complete Street to start in 2027, and Gardiner Section 3 rehabilitation as soon as 2027, adding disruption for a period.
Sources
- TRREB Market Watch, October 2026
- TRREB Rental Market Report, Q2 2026
- City of Toronto: The Queensway Complete Street
- Government of Ontario: Calculating land transfer tax
- City of Toronto: Municipal land transfer tax rates and fees
- City of Toronto: Property tax rates and fees (2026)
- Urbanation: GTHA new condo sales double from a year ago in Q3 (19 October 2026)
- CRA Notice 346: Ontario enhanced new housing rebate
Related reading
- The Queensway Housing Market in 2027: Condo and House Prices
- Selling a Condo on the Queensway in 2027: Pricing and Timing
- Renting on the Queensway in 2027: Condo Rents and Where to Look
- Queensway Condos Finishing in 2027: What’s Closing and What It Means
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, Toronto. I work with buyers and sellers across Toronto and the GTA and have helped more than 100 families sell. Four-plus years of active GTA transactions and over $100 million in sales volume.
Reach me at [email protected] or 833-330-1925, or book a call.