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How’s the Liberty Village real estate market doing? Well…I am glad you asked. I happen to be the guy who knows. My team and I were responsible for over 10% of the sold condos in Liberty Village last year. This year we are aiming for 20% so if you are thinking of selling, email me at [email protected]🙂
Where was I, right. There were 15 sales in Liberty Village last month. 1 less than January 2019. The average sale price in January 2020 was $641,493, that’s a 3.67% increase compared to the average sale price of $618,781 in January 2019. I’ve said it before, I’ll say it again….coming up with one singular average doesn’t really tell us much when it comes to year over year increases/decreases. Let’s break it down into sizes/layouts so we can better gauge what’s been happening so far in 2020.
Studios
There was only one studio sold in January 2020 with a sale price of $450,000. In comparison to January 2019, there were 0 studios sold. Guess what. That was one of ours. You can see it here.
One Bedroom
In January 2020, 4 one-bedrooms were sold with an average sale price of $577,125. Now that’s a 5.65% increase compared to January 2019 with a total of 7 sales and an average sale price of $546,214.
1 Bed Plus Den
For 1 bed plus dens, there’s a total of 7 sales in January 2020 with an average sale price of $644,842. In January 2019, the average sale price was $578,667 with a total of 3 sales. An 11.44% increase. Now we are talking.
Two Bedrooms
For 2 beds, the average sale price in January 2020 was $772,500 with a total of 2 sales. In comparison to January 2019, there were 3 sales with an average sale price of $647,000. A 19.39% increase! That’s a big increase. Let’s see why. 2 out of the 3 sales in Jan 2019 were under 800sqft while one was closer to 900sqft. This will bring the average price down as the square-footage is smaller than usual.
Two Beds plus Den
In January 2020, 1 two-bed plus den was sold with a sale price of $805,000. In January 2019, there were 2 sales with an average sale price of $710,500. That’s a 13.3% increase in sale price.
Whats Happening Right Now
It’s snowing outside and inventory is quite low at the moment. During a busy spring market we generally see about 25-30 condos for sale at any given time. At the moment, there are 17 condos for sale. There are plenty of buyers looking at the moment so multiple offer situations have been common. Prices are most-certainly on the incline at the moment. We will be back to see how February faired this time next month. Till then.
If you have any questions about pricing or the market feel free to send us an email at [email protected].
