The first quarter of 2015 marked the second quarter in a row in which sold prices for Yorkville resale condos declined.  The average selling price for a Yorkville condo was $1,094,327 down 10% from $1,225,359 in the fourth quarter of 2014.

The first quarter average sold price per square foot of $738, was down ever so slightly from the previous quarter’s $740.  However the number of sales that occurred in first quarter was up 12% from the last quarter.

Year over year comparison of quarters also reveals lower sold prices.  This time last year the average sold price for a Yorkville condo was $1,145,501 and it took 50 days to sell. $794 was the average sold price per square foot and only 41 units sold in this quarter.

Longer days on market and increasing sales volume are indicators that there is greater supply in the marketplace which is putting downward pressure on prices.  Greater choice of units and lower prices is good news for buyers of Yorkville condos.  

Yorkville Luxury Condo Sales

In analyzing the condos that sold over $2 million, the average sold price per square foot was $950 down from $1178 in the previous quarter.  Average sold price for a Yorkville luxury condo was $2.925M also down from $3.123M in last quarter.

5 luxury condo suites sold above $2.0M in the first quarter of 2015 which was down from the previous quarter in which there were 9 sales. In the luxury market, suite sales this time of year tend to be slower with buyers being away in warmer climates. 

These 5 sales of luxury condos ranged in price from $2.25M to $3.498M and took place in five Yorkville condo buildings:

100 Yorkville Ave
The Florian 88 Davenport Road
238 Davenport Road
99 Avenue Road
110 Bloor Street West 

Yorkville Condos Average Price Per Square Foot
The first quarter of 2015 resale stats for Yorkville Toronto condos reveals that the average sold price per square foot for a Yorkville condo was $738, very similar to last quarter’s average price per square foot of $740.

Type Of Condo Unit Average Sold Price
Per Square Foot
1 Bedroom Condo $675
1 Bedroom Plus Den Condo $703
2 Bedroom Condo $781
2 Bedroom Plus Den Condo $716
3 Bedroom Or Larger $814

 

Yorkville Condo Sales Volume
65 condo units sold in the first quarter of 2015. Sales volume increased 12% from the previous quarter when 58 Yorkville condo apartments sold.

Yorkville Resale Condos Days On Market Comparison
It took an average of 56 days for a Yorkville condo to sell in the first quarter of 2015 which was 9 days longer than the last quarter of 2014 when it took an average of 47 days.

Yorkville Condo Resale Values 2015 First Quarter
The average sold price for a condo in Yorkville is $1,094,327 down from the previous quarter’s $1,225,359.

Type Of Condo Unit # Sold Average
Sold Price
% of List Average
Number
Of Days
On Market
1 Bedroom Condo 8 $521,313 98 70
1 Bedroom Plus Den Condo 15 $520,757 98 22
2 Bedroom Condo 30 $1,049,400 97 63
2 Bedroom Plus Den Condo 6 $1,132,667 96 25
3 Bedroom Or Larger 6 $2,247,500 96 100

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 …