Azura — Rental Market Data

At Azura, the 30-day average days on market is 10 days, the 90-day average is 18 days, and the North York City Centre submarket benchmark sits at 25 days. Closed lease counts shifted from 3 deals 1 year ago to 28 deals over the 90-day window and 11 deals in the 30-day period. Leasing turnover accelerated significantly over the summer months as rental demand peaked.

At Azura, tenants secured an average discount of $48 per month, representing a 1.70% price reduction below asking and delivering $576 in annual tenant savings. Exactly 42.9% of leases closed under asking, reflecting measurable tenant leverage and landlord concessions in the marketplace.

The two highest-volume anchor layouts at Azura are the 1-Bedroom tier at an average monthly rent of $2,069 per month and 23 days on market, and the 1-Bedroom + Den tier at $2,360 per month with 23 days on market. The 1-Bedroom tier recorded 17 closed leases with an average rent of $2,069 per month, a median rent of $2,050 per month, a P25-P75 range of $2,000 to $2,100 per month, an average size of 455 square feet, a rate of $4.65 per square foot, and 23 days on market, forming a statistically robust benchmark. The 1-Bedroom + Den tier recorded 8 closed leases with an average rent of $2,360 per month, a median rent of $2,350 per month, a P25-P75 range of $2,300 to $2,400 per month, an average size of 636 square feet, a rate of $3.72 per square foot, and 23 days on market, serving as a moderate sample benchmark. The 2-Bedroom tier recorded 7 closed leases with an average rent of $2,979 per month, a median rent of $3,000 per month, a P25-P75 range of $2,875 to $3,075 per month, an average size of 779 square feet, a rate of $3.82 per square foot, and 22 days on market, forming a moderate sample benchmark. The 3-Bedroom+ tier recorded 3 closed leases with an average rent of $3,350 per month, a median rent of $3,350 per month, a P25-P75 range of $3,325 to $3,375 per month, an average size of 950 square feet, a rate of $3.53 per square foot, and 19 days on market (note that this represents an individual deal rather than a broad statistical benchmark).

At Azura, realized leased parking generated a verified premium of $197 per month. Suite bundling patterns indicate that parking stalls are commonly included in larger floor plans, while active asking parking rates remain inconclusive due to an insufficient paired sample.

At Azura, average monthly rents moved from $2,150 per month in April to $2,933 per month in May before stabilizing through the summer peak. April recorded 3 closed deals averaging $2,150 per month at $3.97 per square foot with 47 days on market. May saw 4 closed deals averaging $2,933 per month at $3.63 per square foot with 37 days on market. June closed 8 deals averaging $2,122 per month at $4.25 per square foot with 25 days on market. July posted 9 closed deals averaging $2,594 per month at $4.05 per square foot with 20 days on market. August delivered 11 closed deals averaging $2,405 per month at $4.48 per square foot with 10 days on market.