ICE Condos 2


2020 Price Increase Forecast

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.

  1. Prices were virtually unchanged over 10 months with the average at just under $1100 psf
  2. The sale price-to-list price ratio was also unchanged at 99%
  3. The only change was that average days-on-market dropped to 15 for January listings versus 33 days back in the April -June period
Now there were other condo buildings Downtown that did experience price drops of 5%+ but that can largely be explained by a corresponding drop in sales in the same building.
Image source: