Price Check: “Waiting today means paying more for a home later”

The Toronto real estate market rebound sellers were hoping for has not panned out. Despite the spring weather, the condo scene remains frigid, and overall sales are still down. But one type of home continues to defy the chill: the semi. Move-in-ready semis in established neighbourhoods—especially those priced around $2 million—are seeing strong demand. This development is being driven less by investors and more by end users eager to upgrade from cramped condos. Here, three different agents who recently sold in the $2-million range share their stories.

Related: “Homebuyers may have to wait years for the market to rebound”

Roncesvalles: A century home with a porch and two parking spots

Listed for: $1,899,000 Sold for: $2,023,466 Date sold: March 24, 2025 Bedrooms: 4 Bathrooms: 4 Size: 2,000 square feet Parking spots: 2 Real estate agent: Henry Dineen, Sotheby’s International Realty

“This is a 1920s red-brick, the classic Toronto property that everyone wants. Many who viewed the property were people trying to move up from condos. They wanted more space—ideally a detached home—in walkable, family-friendly neighbourhoods like Roncesvalles. Detached homes are hard to come by, though, and semis are the next best thing. This one has three storeys with four bedrooms, so it checks a lot of boxes for young families.”

“Our asking price was just a touch under market value, just low enough to generate momentum. That strategy had worked well for me elsewhere in the neighbourhood, and it did here too. We had about 40 groups come through over one weekend alone. After the first week, we ended up with three offers and sold for more than $120,000 above asking.”

“Even with market uncertainty and talk of tariffs or interest rate changes, this segment feels resilient. You’re not going to see many more homes like this pop up in Toronto. If a semi is move-in ready and in the right area, buyers need to act fast, because it probably won’t be available for more than a few days.”

Playter Estates–Danforth: An open-concept standout with four bathrooms

Listed for: $1,499,000 Sold for: $1,927,000 Date sold: March 26, 2025 Bedrooms: 4+2 Bathrooms: 4 Size: 2,000 square feet Parking spots: 0 Real estate agent: Claudio Cerrito, RE/MAX Hallmark Realty

“This home has tall ceilings and tons of natural light, not to mention four bathrooms, which is rare for a semi. It’s also on one of the most desirable tree-lined streets in the neighbourhood, and it’s part of an in-demand school district. To drive traffic, we priced it aggressively below market value.”

“I originally set an offer date for a week after listing, but the interest was immediate. Within two days, we had three strong pre-emptive offers, and the winning bid came in $428,000 over asking. That kind of number only happens when everything lines up: location, layout, curb appeal and timing. Inventory was low, and buyers jumped on it.”

“There’s huge demand for semis like this in central neighbourhoods. I just sold three homes on the same street within weeks of each other—all semis, all four-bedrooms, all selling quickly with bids that pre-empted the offer dates. As long as rates keep trending down and buyers sense stability, this segment of the market is going to stay hot.”

University: A renovated Victorian where old meets new

Listed for: $1,689,000 Sold for: $2,000,000 Date sold: March 31, 2025 Bedrooms: 3+1 Bathrooms: 2 Size: 2,000 square feet Parking spots: 2 Real estate agent: Rahim Jaffer, Sage Real Estate

“So many older semis have gone through rushed, low-quality renovations. The sellers here instead took the time to upgrade thoughtfully—modernizing the kitchen and bathrooms while preserving the original stained glass, fireplace and clawfoot tub from the 1890s. We listed the home a tad under $1.7 million: low enough to make it inviting for house hunters but not so low that it undervalued the home.”

“We ran digital marketing ahead of the listing, which generated around 18,000 views. As soon as it went live—on a Monday, no less—we had 10 showings booked. That same day, one buyer came in with a decisive $2 million offer, more than $300,000 over asking, because they didn’t want to risk a bidding war. My clients accepted. All told, the house sold within five hours.”

“There’s no shortage of new condos hitting the market, but most of them are overpriced and not good fits for families. The reality is that freehold homes like this—updated, well located and with real character—are rare. Between generational wealth transfers and ongoing supply issues, demand for quality semis will only grow. My advice? For sellers, invest in a proper renovation and don’t cut corners. And for buyers, if you see something that works for you, don’t hesitate. What 2025 is teaching us is that waiting today means paying more later.”

Are you an agent with tips for house hunters? Send your story to realestate@torontolife.com.