I’ve been a realtor for over 10 years now, and I can honestly say that I’ve never seen as many WTF sale prices as I saw last week.
It’s not unusual for a house to sell for stupid money in this city (it is Toronto after all), but last week was notable because it happened so many times!
All over the city, almost every day, houses and condos were selling for unprecedented figures.
“Unprecedented” is the key word here, but I’m not sure it really does justice to what we saw last week.
A few examples…
Sale #1: A condo townhouse in the east-end
- 1,100 sq ft
- 2-bed / 2-bath
The last few comparable sales happened back in the summer, and sold for around $580,000. This new listing was priced at $589,000 and sold on offer-night… for $840,000!
Sale #2: A freehold home in the Don Mills area
- 1,500 sq ft
- 3-bed / 3-bath
- Detached 2-storey
The listing agent and seller priced it low ($1,188,000), thinking that it might sell for somewhere in the $1,500,000 - $1,600,000 range. It sold on offer-night (with 31 offers) for… $2,303,000! Read more about this sale in the Toronto Star here.
Sale #3: A one-bedroom condo in the downtown core
- 600 sq ft
- 1-bed / 1-bath
- No parking
A nearly identical unit sold in this building in the spring, for around $390,000. This new listing was priced at $435,000 and sold on offer-night… for $505,000!
It’s Sunday night as I write this, and I’m wondering what tomorrow and the rest of the week will bring. It can’t be as crazy as last week, can it? We’ll see…
If you’re thinking of making a move and would like to know how I can help, feel free to contact me for more info.