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March is generally when we see an uptick in Liberty Village condo sales volume and March 2019 was a great example of that. We start to see the spring market taking shape as the weather (kind of) warms up and people lose their new year’s fog. We almost doubled the sales volume of February 2019 with 40 sales. February saw 21 sales in total. Let’s take a look at prices.
The average price for those 40 sales in March 2019 was $664,000. As someone who has been selling Liberty Village condos for a long time it actually blows my mind that the average sale price is now $664,000! In comparison, March 2018 had an average sale price of $544,000, which is a percentage increase of 22% year-over-year in Liberty Village. Craziness! Let’s break these down to something more meaningful and look at 1 beds, 2 beds etc.
[embedyt] https://www.youtube.com/watch?v=AhWpRMQvS9g[/embedyt]
Studios
1 studio sold in March 2019 for $418,000, it was listed for $399,000. Safe to say that the days of getting a studio for under $400k are gone.
1 Beds
14 1 beds sold in March, ranging in size from 400sqft to 712sqft. The average sale price was $535,000, while last year the average 1 bed price was $503,000 (6.36%+).
1+1s
4 1 bed plus dens sold this March. The average sale price for 1+1s was $662,000, while last year the average 1+1 price in March was $573,000 (15.5%+).
2 Beds
The average sale price for 2 beds this March was $785,000, while last year it was $687,000 (14.26%+)
Where Condo Sales Are Heading
Safe bet that new listings and condo sales will surge as the spring market fires up. Some are still predicting fewer listings than usual which could continue to put upwards pressure on prices. 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].
