Market Data as of August 31, 2026
Royal Bayview - South Tower — Rental Market Data
Last Lease
1-BedroomBuilding Summary & Rental Market Overview
Rental market analytics and building profile as of August 31, 2026.
Royal Bayview - South Tower is an established residential building located at 399 Royal Orchard Blvd in the Markham West submarket of Markham. Developed by Tridel and completed in 2025, the 93-suite community currently has zero active listings, reflecting a zero percent availability rate and complete inventory absorption as of August 2026. Recent leasing velocity shows a 90-day closed count of 1 transaction with an average days on market of 19 days, alongside a 30-day closed count of 1 transaction with an average days on market of 19 days.
Active asking rent metrics and price per square foot comparisons cannot be calculated due to the lack of current inventory, while historical 90-day leases realized an average rent of $2,950 per month at $4.54 per square foot, with active units reflecting zero suites and leased units averaging 875 square feet. The submarket asking benchmark stands at $2,730 per month with an average asking rate of $3.61 per square foot.
Marketing friction remains non-existent with zero delisted units and zero days on market variance, while 100 percent of recent leases have closed exactly at asking price in a balanced market environment. There are zero units currently available across all bedroom tiers, meaning prospective tenants face completely locked inventory with no selection.
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Last Realized Lease
Transaction metrics for the most recently leased suite
Recent Leased Transactions & Contract Prices
Recent lease transactions, absorption velocity, and the difference between landlord asking prices and actual prices agreed to by tenants at Royal Bayview - South Tower (Data period: For the month of August 2026).
Leased Transaction Insights & Questions
How many suites were leased at Royal Bayview - South Tower last month, and how fast did they rent?
At Royal Bayview - South Tower, the 30-day average days on market is 19 days, the 90-day average days on market is 19 days, and the submarket benchmark days on market is 26 days. Leasing turnover recorded 1 closed lease in the past 30 days, 1 closed lease in the past 90 days, and a lifetime total of 2 closed leases, indicating steady initial occupancy activity as units enter the market.
What is the negotiation spread between asking rents and closed lease prices at Royal Bayview - South Tower?
At Royal Bayview - South Tower, transactions settled on average at 100% of asking price, resulting in a net negotiation spread of $0 and 0% variance with $0 in annual tenant savings or landlord gain. Market leverage remained strictly balanced as all recorded leases closed precisely at the listed asking price.
What are typical executed lease prices across different layouts at Royal Bayview - South Tower?
The highest-volume anchor layouts at Royal Bayview - South Tower are the 1-Bedroom and 2-Bedroom tiers, which each represent 50% of total leasing volume. The 1-Bedroom tier recorded 1 closed lease with an average monthly rent of $2,950 per month, a median of $2,950 per month, a P25-P75 range of $2,950 to $2,950 per month, an average size of 650 square feet, $4.54 per square foot, and 19 days on market (note that this represents an individual deal rather than a broad statistical benchmark). The 2-Bedroom tier recorded 1 closed lease with an average monthly rent of $4,250 per month, a median of $4,250 per month, a P25-P75 range of $4,250 to $4,250 per month, an average size of 1,100 square feet, $3.86 per square foot, and 92 days on market (note that this represents an individual deal rather than a broad statistical benchmark).
What measurable rent premium did suites with parking achieve in closed leases at Royal Bayview - South Tower?
At Royal Bayview - South Tower, realized leased parking data is currently unavailable due to insufficient paired data. Parking premium data is inconclusive, and suite bundling patterns cannot be reliably isolated from current leasing records.
How does the lease-to-listing ratio at Royal Bayview - South Tower reflect current tenant demand?
At Royal Bayview - South Tower, the overall rent trajectory moved from larger two-bedroom suites in the spring to compact one-bedroom units in late summer. In April 2026, 1 deal closed with an average rent of $4,250 per month at $3.86 per square foot and 92 days on market. In August 2026, 1 deal closed with an average rent of $2,950 per month at $4.54 per square foot and 19 days on market.
Historical Active Listings & Market Dynamics
Analyze availability, historical asking prices, price per foot ($/SF), and days on market over time. Use filters below to benchmark specific layouts.
| Date | Units Available | Avg Price ($) | Avg SqFt (SF) | Avg PSF ($/SF) | Avg DOM (Days) |
|---|---|---|---|---|---|
| 2026-07-27 | 1 | 2950 | 650 | 4.54 | N/A |
| 2026-07-28 | 1 | 2950 | 650 | 4.54 | 1 |
| 2026-07-29 | 1 | 2950 | 650 | 4.54 | 2 |
| 2026-07-30 | 1 | 2950 | 650 | 4.54 | 3 |
| 2026-07-31 | 1 | 2950 | 650 | 4.54 | 4 |
| 2026-08-01 | 1 | 2950 | 650 | 4.54 | 5 |
| 2026-08-02 | 1 | 2950 | 650 | 4.54 | 6 |
| 2026-08-03 | 1 | 2950 | 650 | 4.54 | 7 |
| 2026-08-04 | 1 | 2950 | 650 | 4.54 | 8 |
| 2026-08-05 | 1 | 2950 | 650 | 4.54 | 9 |
| 2026-08-06 | 1 | 2950 | 650 | 4.54 | 10 |
| 2026-08-07 | 1 | 2950 | 650 | 4.54 | 11 |
| 2026-08-08 | 1 | 2950 | 650 | 4.54 | 12 |
| 2026-08-09 | 1 | 2950 | 650 | 4.54 | 13 |
| 2026-08-10 | 1 | 2950 | 650 | 4.54 | 14 |
| 2026-08-11 | 1 | 2950 | 650 | 4.54 | 15 |
| 2026-08-12 | 1 | 2950 | 650 | 4.54 | 16 |
| 2026-08-13 | 1 | 2950 | 650 | 4.54 | 17 |
| 2026-08-14 | 1 | 2950 | 650 | 4.54 | 18 |
12-Month Market Dynamics & Trend Trajectory
Royal Bayview - South Tower has recorded a lifetime leasing volume of 2 transactions with an average monthly rent of $3,600 per month, achieving $4.20 per square foot across an average suite size of 875 square feet. The lifetime days on market stands at 56 days, reflecting the initial occupancy leasing velocity for this newly registered Tridel development in the Markham West submarket. Pricing discipline at the building exhibits a balanced market structure where transactions settled on average at 100% of asking price. With zero variance between listing and execution prices, neither landlords nor tenants held distinct negotiating leverage, resulting in stable transactions across all closed floor plans.
Historical building statistics - leased transactions
This section tracks completed leasing transactions over time starting from May 1, 2026. Use the filters below to refine the trends by unit type, parking, den, and price performance.
Latest leased insights and trends
| Date | Units Leased | Avg Leased Price ($) | Avg SqFt (SF) | Avg PSF ($/SF) | Avg DOM (Days) |
|---|---|---|---|---|---|
| 2026-08-09 | 1 | 2950 | 650 | 4.54 | 19 |
Nearby Building Rental Comparables & Price Spreads
Direct rental rate comparisons against residential properties in the immediate vicinity.
Royal Bayview - South Tower is evaluated alongside four direct micro-market competitors located within 0.40 kilometers: Royal Bayview - North Tower at 397 Royal Orchard Blvd (0.02 km away, completed in 2025, with 4 closed leases), Landmark of Thornhill I at 7805 Bayview Ave (0.26 km away, built in 1991, with 4 closed leases), Landmark of Thornhill II at 7825 Bayview Ave (0.40 km away, built in 1991, with 2 closed leases), and Landmark of Thornhill III at 7905 Bayview Ave (0.23 km away, built in 1991, with 1 closed lease). These structures represent two distinct real estate generations, contrasting modern 2025-built high-rise construction against mature 1990s multi-residential assets. Within this competitive set, the overall benchmarks establish a micro-market average rent of $3,885 per month, an average rate of $3.86 per square foot, and an average suite size of 1,211 square feet. Royal Bayview - South Tower positions itself at the modern end of the scale, commanding premium rates per square foot driven by its recent construction and contemporary floor plans, whereas the neighboring 1990s buildings offer substantially larger floor plates at lower nominal rates per square foot.
Comparable Analysis & Questions
How do rental rates at Royal Bayview - South Tower compare to neighbouring buildings within Markham West?
Royal Bayview - South Tower achieves an average lease rent of $3,600 per month, comparing directly against an overall competitive set average of $3,885 per month across its primary benchmarks. The closest peer, Royal Bayview - North Tower located at 397 Royal Orchard Blvd, reports an average lease rent of $4,438 per month across 1,063 square feet at $4.18 per square foot. Landmark of Thornhill III at 7905 Bayview Ave records an average lease rent of $4,000 per month across 1,700 square feet at $2.35 per square foot. Landmark of Thornhill I at 7805 Bayview Ave registers an average lease rent of $3,400 per month across 1,232 square feet at $2.77 per square foot. Finally, Landmark of Thornhill II at 7825 Bayview Ave logs an average lease rent of $3,700 per month across 850 square feet at $6.13 per square foot.
Does Royal Bayview - South Tower offer a competitive price-per-square-foot ($/SF) against local comparables?
Royal Bayview - South Tower establishes its value proposition by delivering efficient modern layouts that trade at competitive rates per square foot relative to the broader Markham West submarket benchmark of $3.52 per square foot. Renters at Royal Bayview - South Tower weigh the advantages of contemporary construction, modern mechanical systems, and energy efficiency against the distinct trade-offs found in older neighbouring assets. For instance, while Landmark of Thornhill III offers sprawling layouts averaging 1,700 square feet at $2.35 per square foot, and Landmark of Thornhill I provides 1,232 square feet at $2.77 per square foot, these 1991-built alternatives feature older interior finishes and potentially higher ongoing utility burdens. Conversely, Royal Bayview - South Tower delivers optimized square footage paired with contemporary finishes, offering a compelling balance for tenants prioritizing modern lifestyle standards over oversized older footprints.
How do building age, amenities, and developer reputation impact rent spreads?
Royal Bayview - South Tower delivers an exceptional lifestyle profile featuring a concierge and security service, a fully equipped gym and fitness centre, a dedicated yoga studio, an indoor pool, and a sauna and steam room. When contrasted with neighbouring competitors, the subject building matches or exceeds typical area offerings, going head-to-head with Royal Bayview - North Tower which features a golf simulator and rooftop terrace alongside shared elements like a concierge, indoor pool, and party room. Compared to mature 1990s properties such as Landmark of Thornhill I, Landmark of Thornhill II, and Landmark of Thornhill III—which traditionally include tennis and pickleball courts, squash and racquetball courts, and hot tubs alongside standard pools and security—Royal Bayview - South Tower replaces older recreational formats with contemporary wellness amenities tailored to modern professionals and downsizers seeking an active, low-maintenance lifestyle.
Building Amenities, Transit & Neighbourhood Features
Building amenities and neighbouring residential communities around Royal Bayview - South Tower.
Building Amenities
- Concierge & Security
- Gym & Fitness Centre
- Yoga Studio
- Indoor Pool
- Sauna & Steam Room
- Party & Lounge Room
- Games & Billiards Room
- BBQ Area
- Garden & Courtyard
Residential Buildings in the Vicinity
- Royal Bayview - North Tower22 m
- Landmark of Thornhill III228 m
- Landmark of Thornhill I262 m
- Landmark of Thornhill II399 m
- Thornhill Orchards I1.7 km
- Royal Orchard II1.7 km
- Royal Orchard1.7 km
- Thornhill Orchards II1.7 km
- The Gazebo1.8 km
- The Summit Condos1.8 km
- Eden Park Towers - Building B1.8 km
- Eden Park Towers - Building C1.8 km
Data Methodology & Analytical Standards
How FastScreen aggregates public listing records, tracks active inventory, and calculates rental market metrics for Royal Bayview - South Tower.
Snapshot Dates & Benchmark Cadence
- Standardized Snapshot: Market metrics reflect a standardized monthly snapshot locked as of August 31, 2026.
- Benchmark Comparison Cadence: Month-over-month comparisons evaluate changes across standardized month-end reporting windows (August 2026 vs July 2026), ensuring consistent baseline periods and eliminating intra-month reporting volatility.
- Point-in-Time Daily History: Daily charts capture point-in-time active listings available on any given calendar day.
Public Data Aggregation & Thresholds
- Public Data Aggregation: FastScreen aggregates residential rental listing and completed lease transaction records from publicly available sources.
- Threshold Filtering: All listings are subject to a minimum monthly rental threshold of $1,000 to filter out standalone storage lockers, private parking spaces, and misclassified commercial entries from condominium statistics.
Calculation Formulations
- Average Asking Rent: Weighted average of active asking prices across available suites in the reporting period.
- Price Per Square Foot ($/SF): Calculated by dividing rent by square footage only for listings that provide unit dimensions (suites without stated square footage are excluded from $/SF calculations).
- Days on Market (DOM): Measures elapsed calendar days between the date a suite is first listed and either the benchmark snapshot date (for active listings) or the finalized date leased.
- Parking & Den Differentials: Average asking rent differences between suites with vs. without parking, and suites with vs. without a den.
Data Limitations & Scope
- Exclusively Public Records: Statistics are derived exclusively from publicly available rental listings and completed lease records. Private direct-to-landlord arrangements, unadvertised tenant renewals, and off-market rental agreements are not captured.
- Agreed Contract Amounts: Reported lease amounts reflect agreed contract rents and do not account for private move-in allowances or individual unit renovations that may influence pricing spreads.
Disclaimer: The information and statistics presented on this page (including asking rents, lease prices, de-listed listings, average square footage, days on market, and implied suite premiums) are aggregated from public listing sources for general informational, educational, and reference purposes only. FastScreen does not guarantee the accuracy, completeness, or timeliness of any data shown. This information does not constitute financial, investment, legal, or professional real estate advice. Users should conduct their own independent research and consult with licensed professionals before making any rental, leasing, property management, or real estate investment decisions.