Price Check: How about a High Park condo, a semi on Ossington or an East York bungalow?
What kind of home can $1 million land you this fall? Three different neighbourhoods tell three different stories
The Bank of Canada has held its key interest rate at a sky-high five per cent since July—and it hasn’t ruled out more hikes in the coming months. This state of uncertainty has left Toronto’s real estate sector in the doldrums. Buyers are holding more sway these days, with investors and first-time homeowners pouncing on deals at the $1-million mark. Here are three very different homes in three very different neighbourhoods that recently sold for less than $1 million.
High Park North: A jumbo condo with a leafy view
Sold for: $990,000
Listing price: $999,000
Date sold: October 19, 2023
Bedrooms: 2+1
Bathrooms: 3
Size: 1,400 square feet
Maintenance fees: $1,197 a month
Real estate agent: Martin Stothard
In late September, the owners of this two-bedroom condo on Bloor listed it for just under $1 million. Previously selling for $775,000 in 2017, the roughly 1,400-square-foot unit is the largest in the building. The place has floor-to-ceiling windows as well as a small den that can be used as an office. Another perk is its location: High Park is across the street, and Roncesvalles Village’s shops and restaurants are a short walk away. The property got lots of interest from first-time homebuyers, and after four days on the market, the owners accepted a conditional offer that was $9,000 under asking.
Dovercourt Village: A two-storey semi with a backyard
Sold for: $989,999
Listing price: $989,000
Date sold: October 23, 2023
Bedrooms: 3
Bathrooms: 2
Size: 1,500 square feet
Real estate agent: Beatrice Raposo
Located right on Ossington, this three-bedroom semi was owned by the same family for 42 years. It’s move-in ready and comes with a new roof that was installed in 2022. It also has a few rarities for the area: a family room on the main level and a garage in the rear laneway. In order to drum up interest in a slow market, the owners priced the place at a slight discount: $989,000. The strategy worked. They quickly received multiple offers and sold the home for $999 above asking 12 days after it was listed.
O’Connor-Parkview: A classic bungalow ripe for a makeover
Sold for: $850,000
Listing price: $849,000
Date sold: October 23, 2023
Bedrooms: 2+1
Bathrooms: 3
Size: 900 square feet
Real estate agent: Teuta Guci
Over in East York, this two-bedroom bungalow hit the market on October 19. The home had great bones, but the kitchen and bathrooms needed upgrading. Factoring in the cost of renovations, the owners listed the home at $849,000—comparable properties in the neighbourhood had recently sold for about $1 million. House hunters took notice right away. Four days after the home went up for sale, a buyer snapped it up for $1,000 over asking.
Are you an agent with tips for house hunters? Send your story to [email protected].
