Radio City Condos Sales Report 2014
So how did we do in 2014? Have Radio City Condos values climbed up with the rest of Toronto’s market? or since we’ve established that we’re paying exceptionally high condo fees, values have not kept up with the market? I previously posted the 2013 sales data here.
In this article I’m going to do a quick review of sales values for both 281 and 285 Mutual St. If you’re interested in the value of the townhomes, contact me and I can inform you privately. I won’t go into great depth here regarding values vs. market trends, so if you do need my input on that give me a quick contact and I’ll share that with you.
Note that I have also included whatever sales were made in 2015, to make the averages as current as possible. Scroll down to see values and to download the PDFs with the sales data.
Radio City South – 281 Mutual St.
The 281 Mutual St. stats speak for themselves:
- 24 sales (incl to-date 2015)
- Average sold price $463,000
- Median 383,000 (half units sell below, other half sell above this number)
- Cheapest unit sold for 280,000
- Most expensive sold for 1,326,500
- The vast majority or properties sell within the asking price. So they are either priced well or reduced until sold (MLS only shows the current price, never the original asking)
- Units sold as quickly as 1 day to 29 days on market, with an average of 12 days on market.
To download a PDF with all the sales information shown above, click here.
Radio City North – 285 Mutual St.
There are some clear differences between the two towers that nicely reflect in the stats. 285 Mutual St. is shorter (25 vs. 30 storys) and has 8 units per floor (on “normal floors”), vs. 10 at 281 Mutual. The number of units at the North Tower is less than on the South side, and they are larger. That’s also the reason that there are 2 elevators in South vs. 3 in North – yet South is quieter building, as it has less traffic.
Here’s the sales summary:
- 13 Units sold
- Average sold price $462,000 (virtually same as 281)
- Median 466,900
- Cheapest 338,000 (remember, larger units)
- Most expensive 575,000 (wasn’t the penthouse)
- Average Days on Market 14, from 1 to 32.
You can see that both buildings perform in unison. The sale numbers make sense. Download the data here.
What I am not answering here is the following:
- Is Radio City performing better or worse than the Toronto Condo Market?
- What was the sale price diff vs 2013? hint: you can find it here
- Are the high condo fees affecting selling price?
Gotta leave something for later!
In the meantime, feel free to comment, call or email with your questions as many do on a weekly basis, and if you’d like a quick valuation of your property, simply reach out. If I get any interesting letters, I’ll be sure to post them publicly for your enjoyment.
All the best for 2015,