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Condo Market Update

Knowing whats happening helps you make informed decisions

Quick Stats

These numbers represent the average value of condos from January 2021 to May 31st, 2021 and compare them to the over all price of condos in 2020. As we have 6 months left in the year these numbers will change as the months continue. 

Square One Condos



Increase since year end 2020

Park Lawn & Lakeshore Condos



Increase since year end 2020

Downtown (Bathurst to Yonge up to Queen Street)



Decrease since year end 2020

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Analyzing stats have more to do than just average prices.

It is also important to look at how long properties are sitting on the market (the shorter they sit, the more likely prices are going to continue to rise).

Furthermore, it is also important to review list to sell ratio (LSTR) which indicates if properties are selling over ask price. If the LTSR is over 1 it represents properties are selling above ask on average and that it’s a sellers market.

Average Prices

  • Parklawn Lakeshore condos have had the highest growth this year due to the anticipated growth of the area with new projects such as Grand Central Mimico.
  • Square One continues to develop into the new downtown of the west and it shall continue to steadily rise.
  • Toronto condos took the biggest hit last year when COVID-19 shifted our world. The market has started to bounce back from its low points in 2021 and I expect to see a spike in prices once the city opens up again.

Average List to Sell Ratio

  • Parklawn Lakeshore LSTR has increased 2.94% from 2020 (1.032)
  • Square One condos LSTR have increased 1.89% (1.018)
  • Downtown Toronto condos LSTR have increased by 1.74% (1.024)

These are all positive indicators signaling the continued increase in condo prices

Average Days On Market (DOM)

  • Parklawn Lakeshore condos are now selling in 18 days versus 20 days in 2020.
  • Square One condos are now selling 16 days versus 19 days in 2020.
  • Downtown Toronto condos are selling in 19 days versus 21 days.

Although selling a condo 2-3 days faster when compared to last year might not seem like a lot, it is still an indicator that shows a sellers market is continuing for the time being.

Nikhil Oberoi

Broker, RE/MAX

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