The Yorkville Toronto condo market saw sold prices fall in the first quarter of 2014 as compared to the previous quarter.

Average sold price per square foot for this first quarter was $794, a decrease of 3.75% from the 4th quarter of 2013 which was $825.  Sales volume was also down 18% in comparison to the previous quarter.

However year over year comparison of quarters reveals that sold prices and sales volume for Yorkville resale condos continue to rise steadily.  The average sold price for a Yorkville condo in the first quarter of 2014 was $1,145,501 up 28% from this time last year when the average sold price was $892,332.  The average sold price per square foot also increased 30% from the first quarter of 2013 when it was $610 per square foot.  Likewise the number of Yorkville condos sold in the first quarter of 2014 was up 17% in comparison to the first quarter of 2013.

Yorkville Luxury Condo Sales
5 luxury condo suites sold above $2.2M to $4.5M in the 1st quarter of 2014 which was a 58% decrease from the previous quarter.  However the 4th quarter of 2013 was a record setting quarter with 12 condos selling over $2.2M which was at least double the number of units sold in every other quarter of 2013.

The decline in the number of luxury suite sales this quarter can be accounted for by the particularly harsh long winter in Toronto coupled with the fact that buyers of luxury condos are not actively looking at this time of the year as they tend to spend the winter months in warmer climates.

The 5 sales of luxury condos in 2014 took place in three Yorkville luxury condo buildings:

Yorkville Luxury Condo Building
Name & Address
# of Luxury Units Sold
Over $2.2M 1st Quarter 2014
Four Seasons Private Residences 50 Yorkville Ave 2
1 St. Thomas Street 2
10 Bellair Street 1

 

2013 By Quarter

# of Yorkville Luxury Units
Sold Over $2.2M

4th Quarter 12
3rd Quarter 5
2nd Quarter 6
1st Quarter 2

Yorkville Condos Average Price Per Square Foot
The first quarter of 2014 resale stats for Yorkville Toronto condos reveals that the average sold price per square foot for a Yorkville condo was $794.  Sold prices per square foot fell as this is down from $825 in the 4th quarter and $804 in the 3rd quarter of 2013.

Type Of Condo Unit Average Sold Price
Per Square Foot
1 Bedroom Condo $700
1 Bedroom Plus Den Condo $722
2 Bedroom Condo $829
2 Bedroom Plus Den Condo $942
3 Bedroom Or Larger $779

Yorkville Condo Sales Volume
41 condo units sold in the first quarter of 2014. This was down from the 50 condo apartments that sold in the fourth quarter of 2013.

Yorkville Resale Condos Days On Market Comparison
It took an average of 50 days for a Yorkville condo to sell in the first quarter of 2014 which is the same amount of days it took to sell a condo in the previous quarter.

Yorkville Condo Resale Values 2014 First Quarter
The average sold price for a condo in Yorkville is $1,145,501 dramatically down from the previous quarter’s $1,607,710.

Type Of Condo Unit # Sold Average
Sold Price
% of List Average
Number
Of Days
On Market
1 Bedroom Condo 1 $500,000 95 53
1 Bedroom Plus Den Condo 7 $504,857 98 38
2 Bedroom Condo 23 $983,148 96 42
2 Bedroom Plus Den Condo 6 $1,647,500 98 85
3 Bedroom Or Larger 4 $2,092,000 97 32

Victoria Boscariol is a real estate agent in Toronto Canada with Chestnut Park Real Estate Limited Brokerage. With over 20 years experience, Victoria has been helping people successfully buy and sell condos and houses in Yorkville and downtown Toronto. As a Certified International Property Specialist (CIPS) she has worked with Buyers from around the world moving to Toronto from China, Russia, Brazil, India, South Africa, United Arab Emirates, Jordan, Cyprus, Italy, Germany, The United Kingdom, Australia and the United States. 

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There is always a healthy supply of condominium units available for sale in the Yorkville area. However, the best suites – the preferred units with the best floor plans and the best views in the best buildings sell right away. These top valued condos sell within days and if you want the opportunity …