5North — Rental Market Data

At 5North, the 30-day average days on market is 41 days, the 90-day average days on market is 35 days, and the Oakville North submarket benchmark average days on market is 24 days. Over the tracked lifecycle, closed leases reached 12 total transactions, with 9 leases completed over the 90-day window and 4 leases finalized in the 30-day period. This data shows that leasing velocity moderated heading into the late summer months as marketing times expanded above the wider submarket baseline.

At 5North, tenants successfully negotiated an average discount of $35 per month, representing a 1.32% markdown from initial asking prices and generating $420 in annual tenant savings. Across the building's leasing history, exactly 50.0% of transactions closed below asking price, highlighting a tenant-favorable leasing environment where prospective renters maintained leverage over landlords.

At 5North, the two highest-volume anchor layouts are 2-Bedroom suites averaging $2,758 per month across 24 days on market and 1-Bedroom suites averaging $2,133 per month across 57 days on market. For 2-Bedroom suites, the moderate sample of 6 closed leases generated an average rent of $2,758 per month, a median rent of $2,775 per month, a P25-P75 range of $2,712 to $2,800 per month, an average size of 858 square feet, a rate of $3.22 per square foot, and 24 days on market. For 1-Bedroom suites, the limited sample of 3 closed leases produced an average rent of $2,133 per month, a median rent of $2,150 per month, a P25-P75 range of $2,100 to $2,175 per month, an average size of 550 square feet, a rate of $3.88 per square foot, and 57 days on market (note that this represents an individual deal rather than a broad statistical benchmark). Lastly, 1-Bedroom + Den suites accounted for a limited sample of 3 closed leases averaging $2,258 per month, a median rent of $2,300 per month, a P25-P75 range of $2,238 to $2,300 per month, an average size of 617 square feet, a rate of $3.68 per square foot, and 31 days on market (note that this represents an individual deal rather than a broad statistical benchmark).

At 5North, realized leased parking premium data is currently inconclusive due to insufficient paired data in the historical lease records. Parking access was bundled directly into primary lease agreements without separate line-item values, and active asking figures lack reliable standalone samples to isolate exact stall costs.

At 5North, monthly average rents moved dynamically across the tracked spring and summer timeline, starting at $2,050 per month in April and closing at $2,350 per month in August. During April, 1 lease closed at an average of $2,050 per month, $3.73 per square foot, and 21 days on market. In May, 2 leases closed at an average of $2,413 per month, $3.45 per square foot, and 37 days on market. In June, 2 leases closed at a peak average rent of $2,750 per month, $3.24 per square foot, and 15 days on market. In July, 3 leases closed at an average of $2,650 per month, $3.40 per square foot, and 39 days on market. Finally, in August, 4 leases closed at an average of $2,350 per month, $3.67 per square foot, and 41 days on market.