World Series Game 6 baby! Alex has been a die-hard baseball/Blue Jays fan since day 1, but Elaine has now jumped on the bandwagon to cheer on the team, and all productivity has admittedly ground to a halt in recent days. The buzz in the city is amazing as Blue Jays fever has swept the entire country and beyond, and we love the spotlight it is shining on our city (and the $60M+ that this series has brought in from tourist spending!).
You may have seen these images of what the Toronto skyline looked like in 1993 vs. now and while not 100% accurate (the Skydome aka Rogers Centre is missing from the photo supposedly representing 1993!), we thought we’d take a quick look at what has changed in Toronto since 1993, real estate edition.
Approx. number of condo buildings/corporations in Toronto (1993) – 1,057
Approx. number today – 3,135
Average Condo Price (1993) - $139,000
Average Condo Price (2025) - over $700,000
Average size of a new 1 bedroom condo (1993) - 840 sq ft
Average size of a new 1 bedroom condo (2025) – 595 sq ft
Average maintenance fee per square foot in 1993 - $0.57
Average maintenance fee per square foot today - newer buildings typically charge $0.55 to $0.85 per square foot, while older buildings (20+ years) can be $0.75 to $1.10 per square foot
Average price of a condo parking space in 1993 - $8,000-$12,000
Average price of a condo parking space today - $50,000-$100,000
Average 5 year mortgage rate (1993) – 8.7%
Average 5 year mortgage rate (now) – 4.69%
The number of completed and unsold (new) condo units hit a record high in 1993, only to be recently topped this year due to our current struggling condo market.
Average cost to rent a 1 bedroom condo in 1993 - $510/month
Average cost to rent a 1 bedroom condo today - $1,715/month
Popular features in new Toronto condos in 1993 – solariums, squash courts and full sized laundry rooms
Popular features in new Toronto condos now – sustainability, wellness amenities and smart home technology
A lot has changed along the downtown Toronto skyline since 1993, especially since Toronto has become a world class destination, fueling the demand for condo development. One thing remains the same – Toronto sports fans are still going to stand behind their teams, no matter what. The addition of more sports venues and professional sports teams since 1993 is further proof that Toronto has the fan base that can support franchise expansion teams. More and more, we are building a reputation where athletes want to move here and they want to play and represent our city. And we are here for it! One last thing for fun…..curious as to where some of the Jays and Dodgers own real estate? Check out this post!
Go Jays Go!
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