Hello December! Christmas and New Year are just around the corner and we can’t believe 2021 is coming so quickly to an end. If you haven’t yet, make sure to check out Harbourfront Centre’s skating rink. You will be amazed by the view, the lights, and the festivity that the city offers! Remember to dress warm, stay safe and have fun!
Now let’s delve into Toronto Harbourfront & Waterfront’s condo market statistics in more detail.
In November 2021, the total average sold price in Harbourfront was $925,182 with 124 units sold and an average of 21 days on market. Compared to November 2020, the average sold price was $720,151 with 81 units sold and an average of 25 days on market. A total 28% increase. While there’s a lot of factors that justify the substantial percentage increase, but it’s safe to say that the vaccine and the rise of immigration levels are major contributions.
In November 2021, there were 9 studios sold with an average sold price of $491,389 and an average of 20 days on market. In contrast, there was only one studio sold in November 2020 with a sold price of $451,250 and an average of 20 days on market. An 8.9% increase.
Last month, we see an average sold price of $668,628 which is a 14% increase compared to November 2020. There were a total of 32 units sold and an average of 13 days on market compared to last year in November with 21 units sold and 26 days on market. We see more active listings and buyer demand from this year to last year’s market. We advise our clients to make the move as soon as possible before the market gets more competitive in the future.
In November 2021, the average sold price for a 1 plus den was $731,249 and the number of units sold was 47 with an average of 21 days on the market which is a 16.5% increase. Compared to last year’s November 2020, there was an average sold price of $627,390 with a total of 33 units sold and an average of 24 days on market. 1 plus den is deemed to be the most popular layout here.
For 2 beds, the average sold price in November 2021 was $1,102,094 with 20 days on the market and a total of 35 units sold. In November 2020, the average sold price was $870,264 with 24 days on market and a total of 25 units sold. That’s a 26.6% increase from last year. The number shows there are more listings sold with a higher sold price and fewer days on the market which means there’s an increase in buyer demand creating multiple offers and bidding wars.
For 3 beds, there were 6 units sold last month with an average sold price of $3,511,833 and an average of 71 days on market. Compared to last year’s November, there was an average sold price of $1,275,750 with 24 days on market and 4 units sold. The substantial increase is from a 7 million dollar sale which led to the drastic increase in the average sold price in November 2021.
Questions about the real estate market in Toronto Harbourfront and Waterfront? Send us an email at firstname.lastname@example.org and we will get back to you as soon as possible or simply fill out the contact form below.