Traditionally, it takes some time for the real estate market to ramp up after the holidays and new year. Case in point, in October we saw 24 condo sales in Liberty Village, while in January there were 16 sales.
1 Bed Condos
The average price for a 1 bed condo in January was $546,214. Entry-level 1 beds continue to be the most popular purchase for condo buyers in Liberty Village. While prices are clearly higher than they were this is still an entry-level price-point for those tired of paying high rents to live downtown.
2 Bed Condos
Smaller 2 beds sold for $647,000 and went all the way up to $733,000. Your Liberty Village condo expert and the neighbourhood’s top-selling realtor, Michael Camber, is responsible for the priciest sale in January – a 1260sqft 2+1 at 150 East Liberty St for $979,000.
Where Condo Sales Are Heading
While we don’t have a crystal ball it’s a 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. While there is more inventory there are also generally more buyers out looking as people come out of hibernation.
Questions about the Liberty Village condo market? Contact Michael Camber any time at [email protected].