While December is usually one of the quietest months for luxury condo sales, this past month saw some exceptional transactions to cap off what was a record year for the whole of the Toronto Real Estate market.
December 2021 saw a total of 9 sales over $2,000,000 throughout the downtown core (c01/02/08/09), which is roughly the same number sold in December 2020 and 2019. The significant change from the past years comes from the sale prices, which averaged nearly $4m. This was a record number for the month of December and the highest average sale price for luxury condos in all of 2021. In addition to the record average sale price, the average price on a $ per ft basis also set a new high at nearly $2,000 per square foot, well above the 2021 yearly average of $1,300 per foot.
As we move into 2022, there is a shortage of luxury properties currently on the market and no signs of an increase in inventory anytime soon. As a result, the demand for larger suites in luxury buildings should continue to grow as safety, service, and amenities becomes more valuable than ever.
Here are the top 5 luxury condo sales for December 2021.
One of the most sought after luxury buildings in the city and dubbed the “Tower of Power‘ by Toronto Life. This suite offered just under 1,700 square feet of living space with west views over the city. View all listings at ONE BEDFORD
Set to be one of the tallest residential buildings in Canada, The One is currently under construction at the city’s busiest intersection, Yonge & Bloor. This south-west corner suite will offer over 1,500 square feet of living space with panoramic views of the city. More information on THE ONE
Regarded as one of the most exclusive buildings in the city, One St Thomas is located just south of Bloor, steps to Yorkville. This 2,850 sq.ft. suite offered a more formal floor plan with lavish finishes and a prime south-west exposure. View all listings at ONE ST THOMAS
This one of a kind property offered an incredible 4,000 sq. ft. of outdoor living, complete with an outdoor kitchen, gas firepits and ample space for entertaining. With 3,750 square feet of interior space, there is no shortage of room any time of the year.
Topping the list is another sale at The One, which shows the strong demand for large luxury condos in prime locations. This 63rd-floor suite will offer nearly 2,500 square feet of interior space and some of the most panoramic views from anywhere in the city. With a sale price of over $3,200 per square foot, this is also the highest $/ft sale in Toronto for 2021. More information on THE ONE
For more information on these properties or new listings as they come available, reach out in the form below.
Dylan Donovan, Broker
Chestnut Park Real Estate