Yonge – Church Corridor Toronto Condos

Church – Yonge Corridor Downtown Toronto 1st Quarter		2019			2018		Difference
Sales		139			152		– 9%
Average Original Listing  Price		$728,455			$570,989		+ 28%
Average Sold Price		$737,963			$571,267		+ 29%
Days on Market		22			6		+ 331%

Downtown Toronto’s Church – Yonge Corridor condo market showed a very strong price increase in the 1st quarter of 2019 but, sales were down dramatically. Church – Yonge had 139 units sold down by 9% from the 1st quarter 2018. Sales price per unit continued to rise as the average price grew from $570,989 in the first quarter to over $728,000, again up by 28%.

An interesting fact this quarter is that we found agents struggling in pricing units. This was due to a huge shift in prices; agents that are not familiar with the Church Street market priced condos too high or too low. Sellers in many cases were not getting the best value for their condo units. It is very important that seller’s work with real estate agents that are very familiar with the area so that you may get the most up-to-date stats maximizing your return. This is the only downtown location the condos were selling at 99% of listing price.

We don’t have a crystal ball but I feel that the Church – Yonge Corridor will continue to be a very strong market.

We are seeing buyers who were looking at Bay Street and Yorkville move further east to Church for much better value for their money.