Price Check: How about an Etobicoke townhouse, a Leslieville condo or a detached in Scarborough?

It’s been a sluggish winter for the Toronto rental market. Listings have been sitting cold for weeks and months, which has brought skyrocketing monthly rents to a halt. Rents have been down three months in a row, with the average one-bedroom apartment currently going for $2,500. Here are three very different homes in three very different neighbourhoods that recently went for roughly $2,500. 

Related: Price Check—How about a High Park condo, a semi on Ossington or an East York bungalow?

Islington–City Centre West: A stacked townhouse with a balcony

Listed for: $2,300 Leased for: $2,300 Date leased: January 16 Bedrooms: 1 Bathrooms: 1 Size: 500 square feet Real estate agent: Francis Zuccarelli

First listed in November of 2023, this one-bedroom unit in Islington Village was less than two years old and equipped with new appliances and an underground parking spot. It was also in a great neighbourhood for commuters, being close to the subway, the 427 and Pearson airport. The owners hosted 44 showings over two months, with many of the prospective tenants unhappy with the tiny bedroom. But, in mid-January, one renter went for the place at its asking price.

Leslieville: A chic condo with 11-foot ceilings

Listed for: $2,800 Leased for: $2,600 Date leased: January 26 Bedrooms: 1 Bathrooms: 1 Size: 500 square feet Real estate agent: Suzanne Keen

This unit lives in Leslieville’s celebrated Garment Factory lofts on Carlaw. A one-bedroom, it came with exposed brick and polished concrete as well as floor-to-ceiling windows. For renters seeking outdoor space, it also had a walkout to a private balcony. Since hitting the market last October, the place got steady traffic but no takers. One drawback was that residents would have to pay an additional $200 per month if they wanted parking. It finally got leased in late January after the owners decided to settle for slightly under asking.

Clairlea-Birchmount: A main-floor unit in a large detached

Listed for: $2,500 Leased for: $2,500 Date leased: January 26 Bedrooms: 2 Bathrooms: 1 Size: 600 square feet Real estate agent: Carolyn Greer

Here’s a two-bedroom on the main floor of a two-storey detached in Scarborough. Last rented out in 2022, the home was listed at the beginning of the year. The place had its own parking spot and private deck, and the ample storage in both bedrooms and the kitchen were a draw. Unlike most rentals these days, it was snatched up quickly—within three weeks. Following 22 showings and six offers, the owners accepted a one-year lease at asking.

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