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New Condos Etobicoke

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Welcome to the premier destination for discovering new condos in Etobicoke! Nestled in the vibrant western part of Toronto, Etobicoke offers an ideal blend of urban sophistication and serene natural beauty. Whether you're searching for the latest pre-construction condos or new listings of modern living spaces, you've come to the right place.

Etobicoke Pre-Construction Condo Market Trends 2024

Etobicoke's real estate market reflects its diverse neighbourhoods and desirable living environment:
  • Average price / sq ft for pre-construction condos: $949
  • Annual appreciation rate: 9.9%
  • Resale price for all home types: $1,130,000+
  • Average rental rate: $1,840
  • Vacancy rate: 1.6%
  • Time to sell condos: 36 days
  • Time to sell homes: 28 days

Pre-Construction Condos Etobicoke

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Platinum Access

KuL Condos Last Updated 4 weeks ago

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The Clove Condos Last Updated 1 month ago

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Kingsway Grand Condos Last Updated 7 months ago

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Platinum Access

Westshore Towns Minto Last Updated 3 months ago

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Arcadia District Condos Last Updated 4 weeks ago

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BLVD Q Condos Last Updated 4 weeks ago

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Joya Condos Last Updated 2 weeks ago

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351 Royal York Road Condos Last Updated 5 months ago

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875 The Queensway Last Updated 2 years ago

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Step-by-Step Guide to Buying a Pre-Construction Condo in Etobicoke in 2024

1. Research and Preparation

  • Understand the Market: Research the current real estate market in Etobicoke, including trends, prices, and areas of interest.
  • Set Your Budget: Determine how much you can afford, considering mortgage approval, down payments, closing costs, and additional fees.
  • Get Pre-Approved for a Mortgage: Secure pre-approval to understand your borrowing capacity and demonstrate your seriousness to developers.
research & preparation

2. Choose the Right Location

  • Identify Preferred Neighborhoods: Consider factors such as proximity to work, schools, public transportation, amenities, and future growth potential.
  • Visit the Area: Spend time in the neighborhoods you’re interested in to get a feel for the community and lifestyle.
choose the right location

3. Find a Reputable Developer

  • Research Developers: Use the Ontario Builder Directory to verify that the builder is licensed and has a good track record of successful projects.
  • Check Previous Projects: Visit completed developments to assess the quality of construction and the overall satisfaction of residents.
find a reputable developer

4. Select a Suitable Project

  • Attend Sales Events and Presentations: Gather information about various projects, floor plans, and features.
  • Review Floor Plans and Amenities: Choose a condo that meets your needs in terms of layout, size, and community amenities.
select a suitable project

5. Hire a Real Estate Agent and Lawyer

  • Choose a Real Estate Agent: Platinum Condo Deals is experienced in pre-construction condos and can provide valuable insights and negotiate on your behalf.
  • Consult a Real Estate Lawyer: Our professional Real Estate Lawyer will review the purchase agreement and ensure your interests are protected​
hire a real estate agent & lawyer

6. Review and Sign the Agreement

  • Cooling-Off Period: Take advantage of the 10-day cooling-off period to review the agreement, secure financing, and perform due diligence​ (Condominium Authority of Ontario)​.
  • Negotiate Terms: Work with your agent and lawyer to negotiate any terms or conditions that need adjustment.
review & sign the aggrement

7. Secure Financing

  • Finalize Mortgage Approval: Confirm your mortgage with your lender, ensuring it aligns with the developer’s timeline. We are also offering free mortgage pre-approval.
  • Prepare Down Payment: Be ready to make a series of deposit payments as outlined in the purchase agreement.
secure financing

8. Stay Updated on Construction Progress

  • Regular Updates: We will keep in touch with the developer for updates on construction progress and any changes to the project timeline.
  • Site Visits: We will visit the site periodically to monitor progress with you.
stay updated on construction progress

9. Prepare for Interim Occupancy

  • Understand Interim Occupancy: During this phase, you may move in and start paying an occupancy fee until the condo is registered and you receive the title​ (Home)​​ (the BREL Team | Toronto Realtors).
  • Budget for Occupancy Fees: These fees cover interest on the unpaid balance of the purchase price, estimated taxes, and maintenance fees.​
prepare for interim occupancy

10. Closing the Purchase & Move-in

  • Final Inspection: Conduct a pre-delivery inspection (PDI) to identify any deficiencies or issues that need addressing before taking possession.
  • Finalize Legal and Financial Matters: Your lawyer will handle the final paperwork, transfer of funds, and registration of the property​ (the BREL Team | Toronto Realtors)​.
  • Prepare for Move-In: Coordinate your move, including setting up utilities, arranging movers, and purchasing necessary furnishings.
  • Enjoy Your New Home: Once everything is settled, enjoy your new pre-construction condo in Etobicoke!
stay updated on construction progress

Reasons to Invest in New Condos in Etobicoke

Modern Amenities and Design

New condos in Etobicoke are designed with cutting-edge amenities and contemporary aesthetics, offering residents a luxurious and convenient lifestyle. These properties feature state-of-the-art fitness centers, rooftop terraces, co-working spaces, and smart home technologies. Such modern amenities cater to the needs of today’s discerning buyers and renters, enhancing their living experience and providing excellent value for investment

Prime Location and Accessibility

Etobicoke is strategically located with excellent connectivity to downtown Toronto and major highways like the Gardiner Expressway and Highway 427. The area is well-served by public transit, including the TTC subway and GO Transit, ensuring seamless commutes to key destinations. Additionally, its proximity to Pearson International Airport makes it an attractive choice for frequent travelers and professionals. The convenience and accessibility significantly boost the desirability and investment potential of new condos in this vibrant community.

go train at the etobicoke station

Strong Market Demand and Investment Potential

The real estate market in Etobicoke is experiencing strong demand, especially for new condos, which are selling faster compared to previous years. As of May 21, 2024, the average selling time for condos in Etobicoke is notably shorter than in 2023, reflecting a competitive market with high buyer interest. This trend indicates robust investment potential, with the likelihood of good returns and long-term property appreciation. Investors can capitalize on the dynamic market conditions and the growing popularity of this area​

Etobicoke Rental and Seller Market 2024

Rental Market

Etobicoke’s rental market offers a variety of options, with the average rental rate as of May 2024 at $1,840. The demand for condos remains strong, with a vacancy rate of 1.6%.

Seller Market

As of May 2024, the average house and condo prices in Etobicoke reflect a dynamic real estate market. The average price for a detached house in Etobicoke is approximately $1.2 million, showcasing a slight increase from previous months. In contrast, the average price for a condominium in Etobicoke is around $723,186, which represents a slight decrease of 0.5% compared to the same period last year.

Average Renting and Selling Time in Etobicoke

– New Condos
Renting Time for Condos: As of May 21, 2024, rental condos in Etobicoke typically stay on the market for about 22 to 26 days. This is an improvement from 2023, when condos were rented for 28 to 32 days.

Selling Time for Condos: In 2024, condos in Etobicoke will have an average selling time of 25 to 29 days, compared to 32 to 36 days in 2023.

– New Homes
Renting Time for Homes:
As of May 21, 2024, the average renting time for detached homes in Etobicoke is around 26 to 30 days. This is an improvement from 2023 when homes typically stayed on the market for 30 to 35 days.

Selling Time for Homes: The average selling time for detached homes in Etobicoke in 2024 is approximately 28 to 32 days, down from 35 to 40 days in 2023.

Neighbourhoods

The Lakeshore

This area includes Mimico (a historic lakeside community), New Toronto, and Long Branch, known for their proximity to Lake Ontario.

1. Humber Bay Shores

  • Highlights: Stunning waterfront views, modern condos, recreational spaces
  • Perfect For: Outdoor enthusiasts and those who appreciate scenic views

2. Long Branch

  • Highlights: Waterfront parks, charming homes, community events
  • Perfect For: Those seeking a relaxed, beach-town vibe within the city

3. Mimico

  • Highlights: Waterfront access, vibrant arts scene, diverse dining options
  • Perfect For: Arts lovers and those wanting close proximity to downtown

Central Etobicoke

Central Etobicoke is centred around Islington and features a mix of older communities like Richview, Humber Heights, and upscale neighbourhoods like The Kingsway and Humber Valley Village.

1. The Kingsway

  • Highlights: Beautiful homes, boutique shops, fine dining
  • Perfect For: Those seeking a luxurious lifestyle

2. Islington-City Centre

  • Highlights: Excellent shopping, dining, and entertainment options, well-connected by public transit
  • Perfect For: Those looking for a lively urban atmosphere

3. Eatonville

  • Highlights: Family-oriented community, good schools, parks, and libraries
  • Perfect For: Families and those seeking a quiet, suburban lifestyle

North Etobicoke

It includes neighbourhoods such as Rexdale, Thistletown, and Clairville, experiencing notable urbanization marked by dense housing and industrial growth

1. Etobicoke North

  • Highlights: Spacious parks, good schools, affordable housing options
  • Perfect For: Young families and those looking for more space

2. Rexdale

  • Highlights: Multicultural community, proximity to Woodbine Racetrack and Casino, large green spaces
  • Perfect For: Those seeking a vibrant, multicultural environment

3. Thistletown-Beaumond Heights

  • Highlights: Historical sites, a mix of housing types, community-focused amenities
  • Perfect For: History enthusiasts and those wanting a strong community feel

Pros of Living in Etobicoke

  •  Proximity to Downtown Toronto: Etobicoke, a suburb near downtown Toronto, offers convenient access to various amenities, jobs, cultural sites, and schools.
  • Suburban Lifestyle Within City Limits: Etobicoke combines suburban peace with urban convenience. The residents enjoy spacious neighbourhoods, tree-lined streets, and community parks, all within Toronto city limits.
  • Affordable Housing Options: Etobicoke provides a range of affordable housing options, from single-family homes to condos, suitable for different budgets and tastes. In comparison to downtown Toronto, it is a more cost-effective choice for both homebuyers and renters.
  • Long-Term Investment Potential: Etobicoke’s ongoing development offers long-term investment opportunities, with property values steadily appreciating. For instance, since January 2014, the average sale price in Stonegate-Queensway has surged by 56.3%, indicating significant growth potential.
  • Safe and Family-Friendly District: Etobicoke is recognized for its safe and family-oriented atmosphere, with lower crime rates than downtown Toronto, particularly in neighbourhoods like The Kingsway and New Toronto. It also offers top-notch schools, ample green spaces, and great recreational facilities, making it an excellent choice for families.

Cons of Living in Etobicoke

  • Public Transit: Public transit (TTC) in the area can be slower than downtown, making car ownership necessary for some neighbourhoods.
  • Car Dependence: Etobicoke is somewhat car-dependent, increasing living costs, particularly with rising gas prices.
  • Diversity: Etobicoke has a diverse multicultural community, but some areas may lack vibrancy.
  • Traffic: Traffic congestion, particularly during rush hour, can be problematic.

FAQs About New Condos and Homes in Etobicoke

What is the average price of new condos in Etobicoke in 2024?

The average price per square foot for pre-construction condos in Etobicoke will be $949 in Q4 2024. The average resale price for condos will be around $653,752 in Q4 2024​.

What amenities can I expect in new condos in Etobicoke?

New condos in Etobicoke typically offer modern amenities such as fitness centers, swimming pools, rooftop terraces, concierge services, and more. Some condos also feature co-working spaces, gardens, and entertainment lounges​

Why should I consider buying a new condo in Etobicoke in 2024?

Etobicoke offers a balanced mix of urban and suburban living. It has excellent transit connectivity, including subway and GO stations, a strong sense of community, and access to various parks and recreational facilities. The area is also seeing significant real estate development, making it a promising investment​

What is the rental market like for condos in Etobicoke in 2024?

The rental market in Etobicoke is strong, with average rental prices for studio units around $1,400, one-bedroom units at $1,715, and two-bedroom units at $2,200. The area has a low vacancy rate, indicating high demand for rental properties​.

How is the public transportation system in Etobicoke?

Etobicoke is well-connected by various public transit options. It has multiple GO stations (Etobicoke North, Kipling, Long Branch, and Mimico), as well as several TTC subway stations (Kipling, Islington, and Royal York). The area is also serviced by numerous bus routes and has easy access to major highways like the Gardiner Expressway and Highway 427

What are some of the best neighborhoods for new condos in Etobicoke?

Some of the top neighborhoods for new condos in Etobicoke include:

  • Humber Bay Shores: Known for its waterfront views and modern condominiums.
  • The Kingsway: An upscale area with elegant homes and boutique shops.
  • Islington-City Centre: A bustling neighborhood with diverse housing options and excellent transit access​
Are there good schools in Etobicoke?

Yes, Etobicoke has several excellent schools, making it a great choice for families. The area offers a range of educational institutions from elementary to high schools, including highly rated options such as Father Serra Separate School and Josyf Cardinal Slipyj Separate School. Additionally, Etobicoke’s proximity to Toronto provides access to various post-secondary institutions​.

What is the economic outlook for Etobicoke in 2024?

Etobicoke has a robust economy with a diverse job market. It is home to approximately 18,000 businesses across various industries, including automotive, electronics, pharmaceuticals, and transportation. The area’s economic stability is supported by a highly skilled workforce, with 64% of residents holding post-secondary education. Major employers include CIBC, Scotiabank, and TD Bank. The average household income in Etobicoke is $105,994, contributing to the area’s attractiveness for real estate investment.

What are the future development plans for Etobicoke in 2024?

Etobicoke is experiencing a surge in new condo developments, particularly along major corridors like Bloor Street and Highway 427. Upcoming projects include Bloor & Royal York, Revel Condos on Lake Shore, and Distrikt Islington Village. These developments are expected to boost the area’s residential appeal and investment potential. Additionally, there are plans for large-scale residential projects along the Humber River and in Central Etobicoke, offering a variety of condo units and enhancing the overall infrastructure of the area.

How can I stay updated on new condo developments in Etobicoke?

To stay informed about new condo developments in Etobicoke, consider subscribing to our newsletters and registering for updates from our developer pages. Platinum Condo Deals also offers regular updates and exclusive access to new listings.

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