The past week has seen a steady slowdown for the condo market in Toronto with more negotiation & longer average days on market.
These stats relate to the City of Toronto (Lake Ontario -> North York | Scarborough -> Etobicoke)
For 1-bedroom units, the average price was $561,204 with 24 units sold.
The average percentage of list price was 99%, indicating that buyers were willing to pay close to the asking price for these units.
The average days on market (DOM) was 33 which is up from the previous week (28).
The most affordable 1-bedroom unit sold for $360,000 and was a 500-600 square foot unit with parking and a locker located at Dundas St W and Prince Edward.
On the other end of the spectrum, the most expensive 1-bedroom unit sold for $775,000 and was a 797 square foot unit with parking and a locker in Liberty Village.
1-bedroom plus den units had an average price of $661,652 with 29 units sold.
These units had a similar average percentage of list price at 99% and an average DOM of 23.
The most affordable 1-bedroom plus den unit sold for $330,000 and was a 600-700 square foot unit with parking and a locker located at Eglinton and Don Mills.
The most expensive unit in this category sold for $1,040,000 and was a 768 square foot unit with a locker (no parking) located at Richmond and Victoria St.
2-bedroom and 2-bedroom plus den units had an average price of $808,006 with 51 units sold.
These units had a slightly lower average percentage of list price at 98%, and an average DOM of 31.
The most affordable 2-bedroom unit sold for $310,000 and was a 700-800 square foot unit with parking located at Caledonia and Lawrence.
The most expensive unit in this category sold for an impressive $3,805,000 and was a 2100+ square foot unit with 2 parking spaces and 1 locker located at Avenue Rd and St. Clair.
Finally, 3-bedroom units had an average price of $846,500 with 15 units sold.
These units had the lowest average percentage of list price at 97%, and an average DOM of 28.
The most affordable 3-bedroom unit sold for $415,000 and was a 1000-1200 square foot co-op unit with parking located at Browns Line in Etobicoke.
The most expensive 3-bedroom unit sold for $1,767,500 and was a 3782 square foot unit with 2 parking spaces and 1 locker located at Lake Shore and Palace Pier.
Overall, the Toronto condo market remains relatively strong with with very little negotiation from list price however units are taking longer than before to sell.
Be sure to check back next Monday for the latest Toronto real estate stats!
Let me know if you have any questions about the marketplace in the comments below or on Instagram @TorontoRealEstate.ca!
Rylie C.
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