We wanted to test the impact of COVID-19 over 2020 on Downtown condos. We picked Ice Condos because there were a significant number of sales and it has been at the centre of Airbnb rentals which have since been banned by the building because of COVID-19 and severely restricted by Toronto. We looked at 5 sales in 2021; 5 sales from September to the end of November; and 5 sales from April through to June. All sales were one bedroom or studio units without parking. Our conclusions may surprise you.
- Prices were virtually unchanged over 10 months with the average at just under $1100 psf
- The sale price-to-list price ratio was also unchanged at 99%
- The only change was that average days-on-market dropped to 15 for January listings versus 33 days back in the April -June period
Image source: theicecondos.com