December tends to be the slowest real estate month for sales and the 14 sales last month proves that. Compare that with the 24 sales we saw in November and you can see that people were busier with holiday parties and gift shopping than they were buying and selling Liberty Village condos. That’s an almost 40% month-to-month drop in sales volume.
Looking at sales prices, the average sale price in December 2019 was $682,418, an +11.4% increase compared to the average sale price of $612,797 in December 2018.
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Total average sale prices don’t always tell the complete story so let’s break it down:
There were 0 sales for studios this December nor last December.
For one-bedrooms, there were 3 total sales with an average sale price of $620,833. In comparison to December 2018, a total of 5 sales with an average sale price of $535,580, which is a +15.9% increase.
1 Bed Plus Den
In December 2019, there were 9 one bed plus dens sold with an average sale price of $632,372. In December 2018, there were 5 sales with an average sale price of $593,410. That’s a +6.6% increase.
There was only 1 condo sold with a sale price of $875,000. In comparison to December 2018, there were 4 sales with an average sale price of $727,475. A +20.27% increase in average sale price.
2 Beds Plus Den
For 2 beds plus den, there was only one sale that was sold for $1,125,000. Interestingly, there’s also another one condo sold in December 2018 with a sale price of $840,000 which is a +33.9% increase.
Once again, the numbers show an increase in average sale prices and a decrease in the number of listings – something we keep hearing in the media. Liberty Village’s +11.4% presents an increase in average sale price in December 2019 compared to December 2018, and it is expected that condo prices will continue to rise in 2020. The question is, by how much? We will keep you posted.