In the same condo, a 4 bedroom sold for about the same per square foot as a 3 bedroom in the year to September 2026

Inside the same condo, a 4 bedroom sells for about the same per square foot as a 3 bedroom. The fourth bedroom costs what its extra floor area costs at that condo's going rate, and little else.

Compared across the whole market, the answer looks different and depends on where you look. At the same floor area, a new 4 bedroom sells for less per square foot than a new 3 bedroom, and a resale 4 bedroom for more. Both results come from comparing different buildings, not different bedroom counts.

What is in this note

• What each costs - the median price and size of a 3 bedroom and a 4 bedroom, new launch and resale.
• The same size, across the market - a 3 bedroom and a 4 bedroom of the same floor area, compared across all developments.
• Inside the same development - the two compared only where one development sold both.
• 2017 and now - the same comparison in 2017, and how the market for each has changed.
• What this tells you
• What this does not tell you
• Method

What each costs

Over the last 12 months, the median new 4 bedroom sold for $3,399,000 against $2,565,000 for a new 3 bedroom, 32.5% more, for a home 29.4% larger: 1,281 sqft against 990 sqft. On resale the median 4 bedroom sold for $2,960,000 against $2,130,000, 39.0% more, for 29.8% more floor area: 1,593 sqft against 1,227 sqft.

	3 bedroom	4 bedroom	Premium
New launch price	$2,565,000 (2,777)	$3,399,000 (1,320)	+32.5%
New launch size	990 sqft	1,281 sqft	+29.4%
Resale price	$2,130,000 (4,185)	$2,960,000 (1,088)	+39.0%
Resale size	1,227 sqft	1,593 sqft	+29.8%

On new launches the price premium stays close to the size premium. On resale it runs well ahead of it, the first sign that the two resale markets are not selling the same buildings.

The same size, across the market

Take a 3 bedroom and a 4 bedroom of the same floor area, from 1,200 sqft up to 1,350 sqft, and the two sides of the market disagree. A new 4 bedroom of that size sold for $2,414 psf against $2,704 psf for a new 3 bedroom, 10.7% less. A resale 4 bedroom sold for $1,937 psf against $1,680 psf, 15.3% more.

	3 bedroom	4 bedroom	Premium
New launch	$2,704 psf (255)	$2,414 psf (452)	−10.7%
Resale	$1,680 psf (1,044)	$1,937 psf (178)	+15.3%

Neither number is the price of a fourth bedroom, because at this size the two are different kinds of home. On resale, the typical 3 bedroom of this size is 21 years old and the typical 4 bedroom 8 years old, so the comparison is mostly an older building against a newer building. On new launches, a 3 bedroom this large is well above the typical new 3 bedroom, and which developments build a 3 bedroom that large decides the price more than the bedroom count does. The next section removes both effects by comparing the two inside the same development.

Inside the same development

Inside one development, the building, its age and its location are the same for both, and both contradictions disappear. Across the 38 developments that sold at least 3 of each as new launches over the last 12 months, the 4 bedroom sold for 0.9% more per square foot than the 3 bedroom. Across the 117 developments with at least 3 resales of each, it sold for 1.4% less.

Last 12 months	Price	Size	Per square foot
New launch (38)	+35.6%	+34.4%	+0.9%
Resale (117)	+28.9%	+30.7%	−1.4%

What the 4 bedroom costs extra is almost all floor area. On new launches it costs 35.6% more for 34.4% more space, and on resale 28.9% more for 30.7% more space.

2017 and now

Same development	2017	Last 12 months
New launch size	+29.4% (34)	+34.4% (38)
New launch price	+27.3% (34)	+35.6% (38)
New launch psf	−1.6% (34)	+0.9% (38)
Resale size	+30.3% (127)	+30.7% (117)
Resale price	+29.1% (127)	+28.9% (117)
Resale psf	−0.9% (127)	−1.4% (117)

In 2017, too, the two sold for about the same per square foot inside one development: 1.6% less for the new 4 bedroom and 0.9% less on resale. What changed is the size of the new 4 bedroom. In the same development it was 29.4% larger than the 3 bedroom in 2017 and is 34.4% larger now, and its price premium increased with it, from 27.3% to 35.6%. On resale, both gaps barely moved. These are not the same developments in both periods; each period counts the developments that sold both.

The 4 bedroom market has also moved towards new launches. Over the last 12 months it had 1,320 new-launch sales against 1,088 resales; in 2017 it had 1,070 against 1,302. The 3 bedroom market sold more resales than new launches in both periods: 4,185 against 2,777 now, and 4,978 against 3,284 in 2017. The resale 4 bedroom has also got older, from a median 8 years in 2017 to 14 now, against 13 and 16 for the resale 3 bedroom.

What this tells you

A 4 bedroom costs more than a 3 bedroom because it is bigger. Across the market it costs 32.5% more on new launches and 39.0% more on resale. Inside the same development it costs about what its extra floor area costs: per square foot, 0.9% more on new launches and 1.4% less on resale.

Two comparisons run the other way, and both come from comparing different buildings. At 1,200 to 1,350 sqft across the whole market, a new 4 bedroom sold for 10.7% less per square foot than a new 3 bedroom, and a resale 4 bedroom for 15.3% more.

When you are weighing the two in one development, compare them per square foot. A 4 bedroom priced noticeably above the 3 bedroom per square foot is charging for the room itself, not just the space.

What this does not tell you

It does not compare a 3 bedroom and a 4 bedroom of the same floor area inside the same development: few developments sell both at the same size in the same period, too few for a reliable figure. It covers sale prices only, not rent or what owners made on resale; whether 3 bedroom owners made money is a separate question. And it does not say who buys each, which is in who buys a 3 bedroom.

Method and data notes

3 and 4 bedroom condominiums and apartments only. Bedroom count is resolved from the unit record, and only sales where it resolves are counted. Floor area 200 to 6,000 sqft, collective sales excluded, sub-sales excluded, and new launches and resales never pooled. "The last 12 months" is the 12 months to 28 September 2026, with sales recorded to 20 September 2026; "2017" is the full calendar year. Prices and sizes in the first table are medians. Resale age is contract year minus the development's completion year, on resales only. The same-size comparison counts sales from 1,200 sqft up to, but not including, 1,350 sqft, and its figures are medians of each sale's own price per square foot.

Inside one development: a development counts for a side of the market when it sold at least 3 of each bedroom count on that side in the period, so the developments differ between the two periods. For each development, the typical price and floor area of each bedroom count are geometric means, the average on a log scale, and the premiums are averaged across developments on the same scale, each development counting equally. On that scale price divided by floor area is exactly price per square foot, so the per-square-foot premium is the price premium divided by the size premium. It is computed from the two premiums as printed, so dividing the numbers on this page gives exactly the figure shown. Raising the minimum to 5 sales of each leaves the direction of all four per-square-foot premiums unchanged.

Every premium printed beside the two numbers it compares is computed from those two numbers as printed. Every other premium is computed from unrounded values.