Downtown studio sales barely register in 2010

Studios don’t take up a lot of space on the MLS — by my count, they currently represent about 4.5% of the condo market in downtown’s 14 ZIP codes. Redfin’s records (which admittedly aren’t complete) show just 136 studio sales in the past year, out of roughly 4,600 condo sales overall.

An “average” home among these 136 sales was about 30 years old, had just over 600 square feet, went on the market in the high $170s, and closed below $160,000.

The biggest centers of activity this year were Ontario Place, 10 E Ontario St, and Plaza 440, 440 N Wabash St, each of which saw 14 sales, and 474 North Lake Shore, which had 10 sales. Studios currently listed in these three buildings have 500 to 765 square feet and are priced anywhere from the $110s to the $270s.

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