Two $5 Million Dollar Listings... In One Day!

Two $5 Million Dollar Listings... In One Day! Photo Gotta love the photo I chose for this blog post. Two scantily clad ladies, an enormous electric guitar, cardboard flames and a glass box full of millions. Ah, Vegas in all its mundane glory...

How many $5 million dollar condos do you think sell in the city of Toronto in any given year? Ten? Twenty? I ran a search and found that a total of seven condos sold for $5 million or more last year on MLS.

Okay, how many $5 million dollar condos do you think pop up for sale on any given day?

Well, just last Thursday there were two. Both properties were posted on MLS within 1/2 hour of each other. Both listed at the exact same price (just over $5 million).

What's interesting to note here is the different neighbourhoods that these two condos are located in.

One of them is in Yorkville. No surprise there, as six of the seven sales from 2011 were in Yorkville (number seven was in Rosedale-Summerhill). And ten of the eleven condos currently listed for $5 million+ are in Yorkville.

The other new listing is in the Entertainment District/Queen West area. $5 million dollar sales are not par for the course there. In fact, I couldn't find anything that sold anywhere downtown for over $3.5 million.

Comparing the two listings though, it's impressive to see how much more $5 million dollars will get you downtown vs Yorkville...

  • The Yorkville condo is just under 2,900 square feet. The downtown condo clocks in at over 5,000 square feet!
  • Price per sqaure foot? The Yorkville condo is listed at over $1800/sq ft. The downtown condo is listed at under $1050/sq ft.
  • What about your car collection? The Yorkville condo comes with two parking spaces. The downtown condo comes with five!
It's nice to see that even at a multi-million dollar price point, comparison shopping is a worthwhile activity :-)

If you've got $5 million dollars to spend on a home and would like to know how I can help, feel free to contact me for more info.