11 penthouses in and around Toronto currently listed under $700,000 (PHOTOS)

It looks like now might be the time to invest in a penthouse, as prices have dropped substantially in the GTA during the COVID-19 pandemic.

According to Strata, prices have dropped by almost $50,000, making the average penthouse price under $700,000.

It’s important to note that the price of a condo unit is still higher than the overall price in 2019. Currently, the average price-per-square-foot is $795.99, which is an overall ​increase of 5.33%​ in the past 12 months.

Strata notes that the reason for the price drop is that overall inventory has increased, but many homebuyers became nervous entering the market during a pandemic. This meant more options for a small pool of buyers, which made penthouse units “particularly vulnerable.”

• See also:
  • These neighborhoods in Toronto have the most condo listings
  • Toronto real estate and COVID-19: Predictions and housing trends for 2021

But it’s left penthouses at a lower price than normal with listings under $700,000 for sale in and around Toronto. Here are 11 of the listings compiled by Strata.

1. 85 Queens Warf Road – $498,000 

• Studio
• 1 Bathroom
• 438 sq ft

2. 50 Bruyeres Mews – $499,900

• Studio
• 1 Bathroom
• 339 sq ft

3. 2 Eva Road – $510,000

• 1 Bedroom + 1 Den
• 1 Bathroom
• 600 – 699 sq ft

4. 627 The West Mall – 564,900

• 3 Bedroom
• 2 Bathroom
• 1,365 sq ft

5. 55 Harrison Garden Boulevard – $565,000

• 1 Bedroom
• 1 Bathroom
• 700 – 799 sq ft

6. 250 Manitoba Street – $579,000 (sold conditionally)

• 1 Bedroom
• 2 Bathroom
• 755 sq ft

7. 2152 Lawrence Avenue East – $597,000

• 2 Bedroom
• 2 Bathroom
• 800 – 899 sq ft

8. 297 College Street – $629,900 

• 1 Bedroom
• 1 Bathroom
• 478 sq ft

9. 18 William Cars0n Crescent -$630,000

• 1 Bedroom + 1 Den
• 1 Bathroom
• 750 sq ft

10. 120 Harrison Garden Boulevard – $658,800

• 2 Bedroom
• 2 Bathroom
• 732 sq ft

11. 225 Sherway Gardens Road – $699,000

• 2 Bedroom
• 2 Bathroom
• 900 sq ft