Happy Thanksgiving! We hope you enjoyed your turkey, pumpkins, and your time away from work. While fall is quickly coming to an end, we want to showcase the most recent fall condo statistics for September 2021. See below for the most up-to-date market stats pulled from TREB.
In September 2021, there has been a total of 83 units sold with an average sold price of $883,416 and an average of 17 days on market. In comparison to September 2020, there were 24 units sold with an average sold price of $573,975 with 15 days on the market. The data shows the average sold price is increasing year over year meaning the population in the GTA is constantly evolving and growing.
Here’s a closer look into Harbourfront market statistics for September 2021.
In September 2021, there were 5 studios sold with an average sold price of $485,536. In contrast, there were three studios sold in September 2020 with an average sold price of $435,000 and an average of 27 days on market. An 11.6% increase.
We see an average sold price of $698,989 which is an 18% increase compared to September 2020. There were a total of 18 units sold and an average of 12 days on market compared to last year in September with 18 units sold and 22 days on market. The market is picking back up compared to last year due to the majority of the population receiving double vaccine doses. This trend is providing people the confidence to invest in the downtown real estate market as well as population growth.
In September 2021, the average sold price for a 1 plus den was $728,590, the number of units sold was 34 with an average of 15 days on the market which is an 8.5% increase compared to last year’s September 2020 with an average sold price of $667,106. Value and demand will continue to increase for 1 plus dens as it is one of the most popular layouts for buyers.
For 2 beds, the average sold price in September 2021 was $1,005,966 with 25 days on the market and a total of 22 units sold. In September 2020, the average sold price is $1,1007,167 with 20 days on market and a total of 9 units sold. That’s a 9% decrease from last year. As you can see, less inventory means more demand which is why in September 2020 the average sold price is higher.
In Toronto Harbourfront/Waterfront, the average sold price last month for 2 plus dens was $1,545,560 which is a 61% increase compared to September 2020 with an average sold price of $956,857. There were five 2 plus dens sold last month with an average of 24 days on market. The percentage increase should not be heavily weighed as some units are similar in layout, but other factors such as size, views, quality are different affecting the overall sold price.
For 3 beds, there were 6 units sold last month with an average sold price of $1,384,667 which is a 5% decrease compared to last year’s September with an average sold price of $1,458,200 and 33 days on market.
It is no doubt that the condo market in downtown Toronto’s Harbourfront is constantly increasing in value year over year. The statistics show that the market is picking back up at an ever-increasing rate and the numbers say it all.
Questions about the real estate market in Toronto Harbourfront and Waterfront? Send us an email at info@torontoharbourfront.ca and we will get back to you as soon as possible or simply fill out the contact form below.
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