Posts Tagged ‘Prince Arthur’
Pack up the pumpkins and bring out the pine…with Halloween over, Christmas is less than 2 months away! Signs of the festive holiday are quickly popping up all over Yorkville the street lights already wrapped with wreaths.
As we look back at sales in Yorkville for October 2010, we’re greeted with mixed numbers. On one hand, prices have continued to follow the increasing trend seen throughout the year. On the other, sales numbers are starting to slow. We saw 42 sales in October, only one more than the previous month. That number is almost exactly the same as the 43 recorded in October of 2009! With the addition of new condo inventory to Yorkville, one would think more sales would occur.
On average units sold at 97% of asking! Greatest deal was had at 88% of asking price and the highest list to sold price was recorded at 111%. The most popular layout was the one bed plus den with 12 sales followed close behind with the one bed and 2 bed layouts tied with 10 solds a piece!
A custom-designed Penthouse At The Prince Arthur with 11 rooms and 4 washrooms recorded the highest sale in Yorkville! The most popular building for sales occurred once again at Bloor Street Neighbourhood with 6 sales followed by it’s neighbour to the south, CASA Condos with 3 sales.
As we approach the last quarter of 2010, it will be interesting to see how sales in Yorkville wrap up.
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It’s been a few months since our last Yorkville Condo Performance update, but we’re back and excited to fill in our readers with what they missed!
As we had predicted in our June post, July 2010 did much better than the prior year. Sales were up 35% for the month, with the most popular layout being the 1 bed units at 14 sales and the 2 bed units close behind at 12!
August had slightly less sales this year with 32 units selling in the summer month! The one bed layout continued the trend in August, making it the post popular unit with another 14 sales occurring. Despite the small dip in sales numbers, a milestone was reached with the sale of a $12,000,000 condo at No 155 Cumberland!
Sales increased by 29% for September with 41 units being sold. The two Cresford built condos, Bloor Street Neighbourhood and CASA Condos, saw the most amount of sales with 11 and 6 sales respectably! It’s typical for new condos to have high sales shortly after they regisiter as most speculators and other investors sell them off to invest their profits in other projects. These two condos are also the newest additions to the Yorkville neighbourhood.
For the first time in 2010, not one bachelor unit sold in all of Yorkville! The one bedroom unit was once again the most popular layout followed closely by the one bed plus den and the two bed floorplans. The Prince Aurther Residences (at Avenue and Bloor) had the highest price sale for August. On average condos sold for 97% of asking with one lucky purchaser negotiating down the price to 88% of asking!
With summer officially over and the fall market arriving, we’re predicting another month of sales increasing vs the same period in 2009. With more inventory coming on, and historically low interests rates, purchasers have a lot of reasons to make the move up to Yorkville.
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Last month we predicted June sales would be less than the same time in 2009…and 30 days later, we were correct! In June 2009 the Bloor-Yorkville area saw 50 sales occurring. For June 2010 only 39 took place resulting in a 22% decline in sales. The G20 Conference and an increase in lending rates are two factors we suspect dampened activity in June. Condos were selling for less than 100% of value, (97% of list price on average) giving buyers negotiating room as opposed to earlier months when multiple offers were more common.
For the second month in a row, CASA Condo saw the most activity with 10 firm sales! The building also had the lowest priced listing at $237,000 for a bachelor unit. A 3 million plus sale at One St. Thomas gave the condo bragging rights for the highest sold in June and the second highest sale of the year. The most active floor plan was the ‘1 bed’ unit resulting in 11 sales with the ‘2 bed’ and ‘1 plus den’ following close behind with 10 and 9 units respectively!
The summer months of July and August are typically slow as both buyers and Realtors tend to vacate the City! For the month of July we predict stronger sales than the 31 sales recorded in 2009. Though most of the City will be in vacation mode, we’ll be working hard with even more updates to the blog in an effort to make us your number one choice for info in the Bloor-Yorkville neighbourhood!
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How time flies! As we approach the mid way point of 2010 a few changes have occurred in the Bloor-Yorkville condo market. For starters, the month of May saw an increase in listings at Casa Condos (88 Charles St) resulting in 6 solds. Yorkville as a whole actually saw a decreases in number of sales; 32 as opposed to the 46 in March and 43 in April. Year over year though (May 2009 vs May 2010) sales are 18% higher!
The most active layout was the 2 bedroom floor plan which saw 12 of the 32 sales. This has been a common trend through out the year further showing that Yorkville condo purchasers prefer a spacious layout over a smaller one. The highest sale happened at the luxurious Prince Arthur followed closely by the 2009 PUG award winner: One St. Thomas.
Looking ahead to June, we’re doubtful that sales will pass the 50 sales recorded in 2009. Increased lending rates and the G20 meeting toward the end of June should put a damper on the amount of activity in the area. We’ll be following the number closely to see how the market preforms. We’ll also be doing Pre-Delivery Inspections with clients who purchased at Crystal Blu! Look for updates on that project in the near future!
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