Price Check: How about a Riverdale semi, an East York detached or a condo in Dufferin Grove?

A two-year cooling period brought on by high interest rates now means there’s an excess of inventory for buyers looking to pounce. Many investors and cottage owners will also be selling in advance of the federal government’s June 25 capital gains tax hike. All of this points to a buyer’s market for the second quarter—especially for homes in the $1-million range. Here are three very different properties in three very different neighbourhoods that recently sold for under $1 million.

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

Dufferin Grove: A corner unit facing north and south

Listed for: $967,000 Sold for: $967,000 Date sold: April 24, 2024 Bedrooms: 2 Bathrooms: 1 Size: 900 square feet Maintenance fees: $861 per month Parking spots: 1 Real estate agent: Monika Mérinat
Photography by: Aaron Mason

Located on the sixth floor of the IT Lofts building, this open-concept two-bedroom condo came with two terraces and one parking spot. Eager to sell quickly to close on an additional property, the seller listed the home at $967,000. Because of the significant number of condos selling for around that price, she got zero showings in the first four days. But, after three viewings on the fifth day, a buyer came through with an unconditional offer at asking. After sleeping on it, the seller accepted.

Woodbine-Lumsden: A fixer-upper postwar bungalow

Listed for: $699,000 Sold for: $850,000 Date sold: April 30, 2024 Bedrooms: 2 Bathrooms: 1 Size: 900 square feet Real estate agent: Anna Michaelidis and Daniel Clemente
Photography by: Houssmax

Over in the east end, this two-bedroom detached had plenty of green space with yards in the front and back. It was also within walking distance of both Danforth’s shops and Taylor Creek Park. However, the dated kitchen and bathrooms required some updating. Hitting the market on April 22 at just under $700,000, the listing attracted big-time attention from first-time homeowners—50 potential buyers came through the open house on the first weekend. That led to seven offers, with the prevailing bidder acquiring the home for $151,000 over asking.

Riverdale: A red-brick Victorian with an unfinished basement

Listed for: $779,000 Sold for: $900,888 Date sold: May 1, 2024 Bedrooms: 3 Bathrooms: 2 Size: 1,500 square feet Real estate agent: Matt Paananen
Photography by: PropertySpaces

This three-bedroom townhouse in Riverdale required extensive renos. Priced $80,000 higher than the previous property, it came with an additional 600 square feet plus an unfinished basement that could be converted into a rec room or rental unit. Over six days, the listing got 33 showings and five offers: even though the place needed work, it was a larger heritage home in one the city’s most coveted neighbourhoods, especially for young families. On May 1, it sold for nearly $122,000 over asking.

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