Hey October! Why not continue the tradition of monthly quotes? And what better way than to start with Canadian Author L. M. Montgomery’s quote from her classic children’s book Anne of Green Gables. Octobers truly hold a special place in our hearts – sunny weather with a breeze and falling leaves. What about you? What are your October feels?
Many consider September 22nd the official start of Fall. So, it’s fair to say that September stats will encompass both the end of the Summer and the beginning of the Fall market. While summer months are usually a sleepier time for the real estate market, we normally see the market pick up in Fall. While not as crazy as Spring, historically, Fall has proven to be the second busiest time for the real estate market. Now, let’s talk about September!
As of Thursday October 8th, 2021, 77.09% of the total Canadian population has received at least one dose of the COVID vaccine and 72.21% of the total Canadian population are fully vaccinated. That’s more than 57,441,496 doses of approved COVID-19 vaccines that have been administered across Canada. We are still in Step Three of the Roadmap to Reopen, as of today’s date, October 15th, 2021. But, we do have some progress! As of September 25th, capacity limits were increased in many indoor public settings where proof of vaccination is required as well as in certain outdoor event venues. To look on the bright side, we are one step away from exiting the roadmap, where only a small number of measures will remain in place. And that’s what you missed on… Reopening Ontario.
Now, on to real estate! This month, we saw just a pretty substantial increase in total condo sales year over year and month over month. Let’s delve into the numbers for our Liberty Village condo market in August and let them do the talking.
How Many Condos Sold in Liberty Village In September?
September 2021 saw a total of 47 condo sales in Liberty Village. In comparison, August 2020 had 38 sales. Fantastic!! A 23.68% increase in condo sales year over year. What’s more impressive is that this month sets a new record for September sales in Liberty Village. Sitting at 47 condo sales, September 2021 holds the highest amount of sales year-over-year. Incredible!! Our prediction- and hope- is that the ball continues to roll and sales consistently increase as Fall continues. Winter, historically, is the quietest real estate month & then Spring is where the market usually goes bonkers. To sum it up, condo sales in September increased greatly and the number of buyers confident enough to make their biggest lifetime purchase reached a record high year over year. Let’s not forget, this is all despite being almost 2 years into a global pandemic.
Sales volume tells us part of the story. Let’s look at prices. Did values increase, remain the same or decrease from September 2020 to September 2021? Let’s take a look at the average sale price for all types of condo sales year over year.
The average sale price in September 2021 was $779,548 on the 47 sales. The average sale price for the 38 sales in September 2020 was $678,614. An outstanding 14.87% year over year increase in sale price. Holy cow! A notable increase and one that we are very pleasantly surprised with. This means that the average sale price for a condos/townhomes in Liberty Village raised a near 15%. Now, what about sales volume month-over-month? The average sale price in August 2021 was $742,520 on the 50 sales. A 4.97% month over month increase in sale price. Wonderful! So, sale price is steadily increasing month-over-month and by heaps and bounds, year-over-year! To sum it up, we are a near 5% higher than last month when looking at sales volume month-over-month.
The average sale price in September 2021 was $779,548 on the 47 sales. The average sale price for the 38 sales in September 2020 was $678,614. An outstanding 14.87% year over year increase in sale price. Holy cow! A notable increase and one that we are very pleasantly surprised with. This means that the average sale price for a condos/townhomes in Liberty Village raised a near 15%. Now, what about sales volume month-over-month? The average sale price in August 2021 was $742,520 on the 50 sales. A 4.97% month over month increase in sale price. Wonderful! So, sale price is steadily increasing month-over-month and by heaps and bounds, year-over-year! To sum it up, we are a near 5% higher than last month when looking at sales volume month-over-month.
The Liberty Village condo market for September 2021 has proven record-breaking & thrilling. The end of the Summer & beginning of the Fall Market has started with a huge BANG. With all these exciting stats, it’s important to remember that we’ve only experienced a glimpse of the Fall Market. Going forward, we’re on the edge of our seats for the remainder of Fall and beginning of the Winter market. Buckle up, it’s going to be a great ride!
Any predictions for next month, the rest of Fall or the Winter market? Let us know in the comments below.
If you have any specific questions about the market or are curious as to how this relates to your Liberty Village condo, get in touch. You can fill out our Condo Value Form or send us an email.
