Toronto Loft Building Sales Stats:
Click here to see a table-view of Toronto Lofts for Sale by Building, Address, Price and Number of Bedrooms.
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TYPES OF LOFTSHard Lofts: Conversions of old buildings into unique, unconventional living spaces. Soft Lofts: Newly built condos with loft-like characteristics eg: 2-storeys, higher ceilings, open concept, exposed ductwork and concrete features. Live/Work Lofts: Lofts which offer the flexibility of being used for residential or commercial purposes. Commercial restrictions often apply so call MrLOFT to discuss which buildings may best suit your needs. |
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Your friendly team at MrLOFT.ca is hoping all of our clients, friends and interested onlookers are enjoying the glorious weather of another fine Toronto summer, boosted by the excitement (for some) of South Africa’s 2010 World Cup!
In our April market commentary, we noted the indicators of a shifting market. The hot sellers’ market of late 2009 and early 2010 has ended and conditions are normalizing. The higher interest rates and increased supply of inventory have put the brakes on bidding wars and record high prices (with the exception of our NEW RECORD HIGH at the Candy factory (-: ) For buyers, this is a good thing. You can finally start to negotiate and make an offer on your terms. Over the past month Toronto loft inventory has sat around 280 units which is considerably higher than the Jan/Feb period where inventory sat around 120 units. This added supply will definitely create opportunities for savvy buyers. Overall, we view the latest market evolution as a positive, helping keep values at realistic levels and avoiding over-inflated price transactions. It will also allow for the return to the market of previously perplexed or frustrated buyers.
New construction projects continue at a strong pace, Having attended many recent Condo/Loft launches it is amazing to see how many buyer/investors purchase without knowing the resale values of comparable units before making their purchasing decision. Beware anyone paying $600 per sqft. or more for a property over 600 sqft. will unlikely make any great return in the short term. The majority of loft properties in the resale market still trade between $450-$550 per sqft. Only the best units in a building trade over $550 per sqft (with the exception of small one bedroom units and penthouses).
The table below illustrates overall activity within twelve popular Toronto Loft buildings during the first four months of the year, and compares that against the same figures for the entirety of 2009. The pro-rata transaction volumes are well up over last year in most buildings surveyed.
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BUILDING |
ADDRESS |
JAN - APR 2010 |
FULL YEAR 2009 |
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|
UNITS LISTED |
# SALES |
LOW PRICE |
HIGH PRICE |
UNITS LISTED |
# SALES |
LOW PRICE |
HIGH PRICE |
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|
Candy Factory |
993 Queen Street W |
7 |
5 |
492,900 |
980,900 |
13 |
11 |
417,000 |
800,000 |
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Chocolate Lofts |
955 Queen Street W |
10 |
7 |
295,000 |
575,000 |
10 |
9 |
275,000 |
529,900 |
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Massey Harris Lofts |
915 King Street W |
5 |
2 |
317,300 |
335,000 |
2 |
2 |
292,500 |
365,600 |
|
Brewery Lofts |
90 Sumach Street |
3 |
1 |
689,000 |
689,000 |
11 |
6 |
420,000 |
645,000 |
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Broadview Lofts |
68 Broadview Avenue |
9 |
8 |
113,000 |
540,000 |
28 |
23 |
309,900 |
740,000 |
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Tip Top Lofts |
637 Lakeshore Boulevard W |
11 |
3 |
299,000 |
700,000 |
12 |
5 |
265,000 |
498,000 |
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Toy Factory |
43 Hanna Avenue |
19 |
9 |
385,000 |
678,000 |
53 |
43 |
293,000 |
715,500 |
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Robert Watson Lofts |
363/369 Sorauren Avenue |
10 |
6 |
274,900 |
540,000 |
23 |
19 |
245,000 |
575,000 |
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Pure Spirit Lofts |
33 Mill Street |
54 |
32 |
280,000 |
590,000 |
71 |
61 |
240,000 |
725,000 |
|
Kensington Market Lofts |
160 Baldwin & 21 Nassau |
9 |
5 |
320,000 |
503,000 |
12 |
11 |
235,000 |
620,000 |
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Merchandise Lofts |
135 & 155 Dalhousie Street |
18 |
12 |
275,000 |
690,000 |
52 |
48 |
225,000 |
795,000 |
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DNA Lofts |
1005 King Street W & 1 Shaw Street |
35 |
29 |
229,900 |
775,000 |
95 |
81 |
205,000 |
830,000 |
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*-- The difference between the 'Units Listed' and '# Sales' units represent those lofts which were either removed from the market without selling, or are currently active listings. |
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FEATURED LOFT BUILDINGS - 2009 SALES SUMMARY |
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|
Loft Name |
# 2009 Sales |
Avg 2009 Sale Price |
High 2009 Sale Price |
Low 2009 Sale Price |
Avg Days On Market |
Avg Area SQFT |
Avg $ per SQFT |
Highest $ per SQFT |
Lowest $ per SQFT |
|
8 |
$309,168 |
$415,000 |
$252,000 |
34 |
793 |
$397 |
$515 |
$317 |
|
|
34 |
$444,627 |
$720,000 |
$273,000 |
26 |
832 |
$540 |
$644 |
$419 |
|
|
6 |
$530,500 |
$645,000 |
$420,000 |
29 |
1,352 |
$392 |
$403 |
$378 |
|
|
14 |
$356,492 |
$470,000 |
$283,000 |
22 |
827 |
$435 |
$483 |
$355 |
|
|
23 |
$445,700 |
$740,000 |
$309,900 |
39 |
1,069 |
$417 |
$555 |
$343 |
|
|
6 |
$382,575 |
$498,000 |
$265,000 |
32 |
798 |
$491 |
$532 |
$434 |
|
|
43 |
$424,993 |
$715,000 |
$293,000 |
27 |
898 |
$474 |
$550 |
$398 |
|
|
18 |
$368,074 |
$575,000 |
$245,000 |
25 |
804 |
$466 |
$559 |
$394 |
|
|
45 |
$387,835 |
$795,000 |
$225,000 |
26 |
1,012 |
$400 |
$555 |
$287 |
|
|
9 |
$585,480 |
$800,000 |
$417,000 |
18 |
1,143 |
$513 |
$569 |
$417 |
|
|
8 |
$382,238 |
$529,900 |
$295,000 |
24 |
801 |
$480 |
$543 |
$424 |
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