Yes, and not always the way buyers assume — the top floor has a specific drawback in a city with our summers.
For: nobody above you, which resolves the most common condo complaint outright. Better views, more light, and often higher ceilings in newer buildings.
Against: heat. A top-floor unit takes the full sun load on the roof, and in a building without air conditioning a west-facing top-floor unit in July is genuinely uncomfortable. You are also more exposed to any roof problem, and more dependent on the elevator — which matters on the day it is out of service and you have groceries.
Top floor is usually worth a premium, but check the cooling situation before you pay it. The AC question →
For: no elevator dependency, easier with dogs, strollers, bikes and groceries, and frequently a patio rather than a balcony — which many buyers value more than a view. Often priced below equivalent higher units.
Against: less privacy, more foot traffic past your windows, more street noise, and security concerns that some buyers feel strongly about whether or not they are statistically justified. Ground-floor units can also be darker, particularly on a north side.
Frequently the sensible answer, and the one that gets overlooked because it is unremarkable. Above the street noise, below the roof heat, still a reasonable view, and generally the best value per square foot in the building. If you have no strong preference, this is usually where the sweet spot sits.
North-facing units get the least direct light, which matters more here than in sunnier climates because our winter days are short to begin with. They are typically the hardest units in a building to sell and often the slowest, so expect that to work in your favour as a buyer and against you as a seller.
South and west units get the most light and usually command the premium — with the trade-off of summer heat, particularly higher up. East-facing gets morning sun and stays cooler through the afternoon, which a surprising number of residents end up preferring.
If you can, view a unit at the time of day you will actually be home. A north-facing unit seen at noon in June tells you very little about a Tuesday evening in January.