All in all, February is considered a pretty frigid month and Toronto had a particularly frigid one this year. Between snowstorms and ice storms it was pretty hard to get excited about the condo market – well for most people.
All of that being said, things were moving quite nicely in Liberty Village’s condo market in February. Let’s take a look at what was happening.
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With 21 condo sales in Liberty Village in February, I would describe February as having been active. Compare that to 13 sales last February, we saw a 62% increase in the number of sales compared with last year. Let’s break it down a little further.
We had 2 sales of studios last month, averaging $402,500. No studios were sold last February but I assure you that they were selling for under $400,000, on average.
8 1 beds sold this February compared with 4 that sold in February 2018. The average sale price for one beds this year was $552,000, while last year the average 1 bed price was $504,000 (9.5%+).
4 1 bed plus dens sold this February compared with 1 that sold in February 2018. The average sale price for 1+1s this year was $623,000, while last year the average 1+1 price was $558,000 (11.65%+).
7 2 beds sold this February compared with 8 that sold in February 2018. The average sale price comparison didn’t really tell us much with 2 beds as larger 2 beds sold last year pushing the average up vs this year, where smaller 2 beds were selling.
Where Condo Sales Are Heading
Safe bet that new listings and condo sales will be creeping up as the weather starts to warm up. While Liberty Village condos always tend to sell well in the winter months, condo sellers typically like to wait till the warmer months to list their condos. We have some great new listings coming up for the spring so check back often to see what’s available.
And if you are thinking of selling? Make sure you fill out our handy Find Out Your Condo Value Form. You’ll hear back from us shortly.
Questions about the Liberty Village condo market? Contact Michael Camber any time at [email protected].