We are well into the busy fall market and the Liberty Village condo market continues to be a popular choice with first-time buyers, move-up buyers and investors alike. Case in point, we have had over 36 offers on our last 4 listings alone. Clearly there is immense demand out there. Let’s take a look at what has been happening this past September.
In Liberty Village, there were 29 sales in September and 27 sales in August. Interesting because generally August is considered a slow month for the real estate market and September is the start of the busy fall market. So August was busier for sales than expected and September saw sales down compared to the previous year.
The average sale price this September was an astounding $717,118! Man, things are getting pricy! Last year (September 2018) the average sale price was $609,723 with a total percentage increase of 10.5%.
Total average sale prices don’t always tell the complete story so let’s break it down:
The number of studios sold this September was 1 with a listing and sold price of $419,000. The number of studios that were sold last September was 4 with an average sold price of $419,500 which is a -0.11% decrease compared to September 2018.
There were 9 one-bedrooms that were sold this September with an average sale price of $526,311. Compared to last year, there were 15 sales, the average sold price was $514,700. +2.25% increase compared to last year’s September.
1 Bed Plus Den
There were 9 one bed plus dens that were sold in September, with the average sale price being $634,944. In comparison to last year’s September statistics, there were 8 sales that were sold with an average sale price of $611,875. +3.77% increase compared to September 2018.
For 2 beds, there were 8 sales this September with an average sale price of $905,766. It is important to note that 2 of these 2 bed sales were at the pricy Toy Factory Lofts at 43 Hanna Ave. One sale for $1,179,128 and the other for $1,455,000. If we remove those sales we come to an average 2 bed sale price of $769,000 – a number more in line with the average in Liberty Village. In comparison to last year’s September statistics, there were 6 sales with an average sale price of $742,000. A sizeable +3.64% increase compared to last year’s September.
2 Beds Plus Den
This September, there was one two-bedroom plus den that was sold for $755,000. In addition, a suite in Toy Factory Lofts was sold for $1,925,000, and to make it a fair and reasonable comparison to last year’s, we excluded this property as the sold price was above and beyond the average sale price for a two-bedroom in Liberty Village.
October has already proven to be a very busy market for us in Liberty Village and we are expecting to see prices continue their upwards trajectory. By how much? You’ll have to check in with us in a couple of weeks time for our October Market Report. Till then!
Interested in seeing what’s for sale in Liberty Village? Check out our up-to-date current listings of Liberty Village condos for sale.