Yorkville and The Annex, Toronto Condos
2022 Real Estate Sales Report
|Yorkville and the Annex Toronto 1st Quarter||2022||2021||Difference|
|Average Sold Price||$1,381,623||$1,197,041||+ 15%|
|Average Listing Price||$1,343,104||$1,226,893||+ 15%|
|% of Final Sales Price to Listing Price||104%||99%||+ 5%|
|Days on Market||19||23||- 18%|
Yorkville and The Annex Toronto's condo market saw an increase in sales in the 2nd quarter 2022, up by 10% to 102 condo sales. Sales prices for the 2nd quarter of 2022 increased by 15%, a strong showing based on the condo market throughout the city. One important item to point out is that we saw the price increase stop as last quarter we saw the same sales price. I believe this is the beginning of prices to lower over the next 6 months.The average price comes in at $1,381,623 per suite. I believe we are now beginning to see a shift in the prices market from the huge increases we have been expecting each quarter. We spoke last year of how the pre-construction market would affect resale with the new condos beginning their VIP programs in 2021 and 2022. As predicted would happen there was very little if any effect in fact. The main reason for this is how expensive the new condos are now priced per sq. ft. up to over an average of $1,375.00 per square foot and resale condos are just under $1,200 per sq. ft.
There is still a very strong demand for Yorkville condos larger larger than 1,200 + sq. ft. from empty nesters moving to condos from larger houses. One of the reasons that we have seen the prices increase is because there are more larger units being sold at these higher price points.
Another statistic showing that the market will likely remain strong is that we are seeing 104% of the final sales price to the listing price and on average, condos are selling in close to 3 weeks.
Yorkville and The Annex still has pockets that are offering units with prices under $1,100 per square foot. However, we are seeing the average price sit high-mid $1,400's per square foot, which is back to or closer to where it was in the peak. Yorkville continues to hold close to $1,395 per sq. ft. in many of its buildings, but of course this depends on the finishes, upgrades, renovations and the amenities of the building. There are exceptions as well, The Four Seasons Private Residences west tower at 50 Yorkville Avenue, has now realized prices over $235000 / Sq. Ft in 2019 on certain suites.
*** Please Note -These prices do not truly portray the fact that many of these super luxury condo units are from $1300 to over $1,500 per sq. ft.. *** and even higher in certain buildings. If you would like pricing information for a specific buildings, please complete the form below.
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Sotheby's International Realty, Canada
Not intended to solicit Buyers or Sellers currently under contract with other Realtors
Showing 89 properties out of 104 currently available on the market.