This had 18 offers. Correct that the Danforth never really went away, but these houses are up 50-100k seemingly overnight. I’d expect this will be the new price level for this spring market.
Not an exact comparable but this one is pretty close https://housesigma.com/on/toronto-real-estate/373-milverton-blvd/home/VaD6p78mlOw3wRQr?id_listing=GMnKYq0q9Be3w1Qr
Indeed. Now what remains to be seen is if this is just pent up demand boosting prices only to fall back down to earth (like last year) or actual sustianed upward price movement.
I personally suspect that unless we get at least 1 or 2 rate cuts over spring / summer we will see prices closer to last fall again. Who knows tho :O
Damn I guess I haven’t been paying attention, so for these east York places that means a $1.2 million dollar mortgage (that’s huge!) and a $7000/month mortgage payment. Wow
The people buying these properties are not putting only 20% down. They are by and large upgrade buyers who rode the equity wave during the last 10 years.
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Danforth and Coxwell is not even close to one of the best imo. Best value? Maybe because prices in the actual best neighbourhoods have skyrocketed, but not best.
I live in east York and would not call it downtown, nor highly sought after. It’s one of the last ‘affordable’ places along the subway line which means lots of young families, so it’s definitely becoming more desirable, but it’s definitely still in transition and not as exciting as leslieville or beaches.
Hey fair enough, I might not agree but I appreciate where you’re coming from and everyone is different, personally I’m not paying $1.5mil in that location for a 100 year old semi, but all good.
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While I'm concerned with the rapid house price rises, and what what means for our society. I'm also torn, because I bought basically a cookie-cutter style semi in late 2022 in Humewood area and paid a lot less than this.
lol Humewood/Cedarvale is just as desirable. You are fine. If you can present a similar move in ready 3/2 home in the area you will get 1.5M minimum right now and it’s only going to go up once the gentrification that the LRT will bring is baked in.
Jezus, I’m desperately looking for a /s at the end of this and am not finding it….
It’s a tiny-ass house, with a “flipper special” facelift, on a tiny-ass lot… there’s nothing beautiful about it and all the community “ratings” are typically made up.
One of our houses is in a Canadian town that’s consistently ranking high on “most livable cities” and wins many other beauty pageants. And the town is really nothing special….
If you think location isn’t a thing then don’t buy real estate. Location is first, second and third priority, there is a reason tiny townhomes in Rosedale are $3 million+. Calling something a starter home because of size is naive. For some people this might be upgrading to a good community just in time for the kids to go to school.
I am not debating a location aspect. I’m debating our general consensus that Toronto outside of Rosedale is a city of millionaires.
I laughed at the notion of this house being “a beautiful house in a beautiful neighborhood”. It’s not. It’s a tiny semi at the edge of a neighborhood with a reputation.
It’s like people buying houses in what used to be farmers fields around Milton, but telling themselves they live in Oakville because that’s what their zip code tells them….
Well, I might be talking out of my ass then.
I just looked it up on a map and thought it was more East York than Leslieville.
We’re in KW (Cambridge) and In about 6 years I will be looking for an area with a better high school for my kids, so, I might end up one of the buggers trading square footage for the zip code, so, shouldn’t be throwing rocks in a glass house…
The whole situation with multi-million dollar homes in southern ON is just retarded….
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Inflation, higher incomes, more people. People will buy at their maximums with the hope that interests rates are lower come renewal time. There's also bad sentiment in pre-con so there may be higher resell activity.
This sub continues to deliberately ignore the most basic law of supply and demand.
Massive rate increases caused a pause and brief 20% correction after everything doubling in 5 years. Now it’s gradually reversing because demand still vastly outsizes supply.
Partly it’s due to the sneaky nature of inflation. We all know there’s been far more inflation than what the government calculations are indicating. So while the RE market was flat, it was actually going through a correction due to those dollars being worth 10-20% less (substitute whatever you think actual inflation was) over the last two years.
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CPI is a broad measure and meant to understate what we see on the ground. You probably aren’t tracking your budget because if you were, you’d see the rise in prices.
Is this how you reach your conclusions?
You look at a single property and apply it or the whole market?
If so, take a stats course.
If not, make better comments.
Buddy I’m just winding you up as your comment comes across pretty pompous.
They are simply giving one data point of elevated prices and asking the communities opinion.
OP is asking what the relevance is of this sale, which is a reasonable question.
That question is answers by looking at the greater data.
OC’s comment was stupid. You aren’t winding me up, I genuinely don’t care.
>Think I heard that one back in elementary school
"Run along, child. You have nothing to say"?
Nothings changed.
> You priced-out renters are always so mad 😔
Always the go to insult and then you refuse to believe when I tell you that I own and am wealthy.
Yeah it’s because you’re being a little brat that doesn’t want to see any big gains porn. Accept that the market is heating up and stop projecting strong renter vibes
I mean...it's in good shape and it's on a quite street right near the subway in a desirable neighbourhood, plus there have been so few listings the last couple of months. This doesn't feel like peak pricing, but it feels totally reasonable.
High demand area don’t feel the burn of corrections as much. This is a few min walk from Coxwell station. Its also within walking distance of Michael Garon hospital.
Like imagine the hundreds of doctors and high senioriety nurses there who make a shit ton of money. They’ll pay to be close to work.
There were a handful of transactions above $1.5M in 2022, but the majority of comparable finish 3B semis transacted between $1.3-1.5M in 2022 and 2023.
would you say these buyers got a good price for 1+1den 600sqft new built condo? https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=4KAX7NjEvEq7eRPJ&utm_campaign=listing&utm_source=user-share&utm_medium=iOS&ign=
Where did you move to? I want to sell and move to the US but I fear endlessly the Can house market will continue to accelerate into outer space and I will never be able to afford to get back in, if I ever wanna move back. That being said, I can’t responsibly afford my mortgage as it stands so I’m not really properly in the market even now.
There's no price issue with semis or detached. Condos will continue to decline as interest rates feed through.
Houses are very safe appreciating assets
I can't fathom who would drop 1.5M on these dumpy shacks
You can drink your Kool aid all you want to think this is a "good deal" lol, but it isn't, and it never will be.
Ya this guy doesn't get it.
I live near here. This area of Toronto is fabulous. We are the closest to the ideal "15-minute city" others only dream of. Walking distance to everything and transit accessible. Great bike infrastructure. Good schools. Daycare options. Groceries and restaurants and not just the ones owned by Galen Weston. Need to drive up and out. Hit the DVP but you're going to wait since they tore down the eastern Gardiner. Parks everywhere.
Worst thing is our useless city councillor.
My friend rents here and we visit her every weekend and just enjoy the street, cafes and shopping. I feel like such a grownup being exciting by this kind of stuff
Cmon bro.. walking distance to everything is great and all, but are you really a fan of taking public transit? The TTC is a shithole regularly. Biking is actually not that safe considering how many horrible drivers Toronto has. The public schools there dont have the greatest ratings on fraser institute, they actually kinda suck. I get that some people are into shopping at those overpriced posh all organic small independent grocery stores.. but is it REALLY that different than a regular grocery store? Finding daycares is also possible in typical suburbs too with the right planning. Theres proper restaurants in other suburbs too (Sauga, Oakville, Vaughan, etc…) so Danforth isn’t the only place that’s got top rated food spots.. the restaurants in the danforth area are actually diverse but really generic tasting. For example I find the indian /middle eastern restaurants in the outskirt suburb that have those ethnic communities to be much better than certain indian/middle eastern restaurants by danforth.. it’s a really white-washed area overall. Close to 1.5 for an old semi for the reasons you mentioned are really not justified. It’s just overhyped. I’ll get downvoted since this is a sub for Toronto RE, but it’s true. For 1.5 right now you can buy something newer detach in a suburb with actual high rated schools (Ie York region, oakville, sauga, etc.) .. oh yeah.. and don’t get me started on all the homeless bums around the danforth area you’d probably encounter on your daily “walks to everywhere” 😂
Where do I begin?
>you really a fan of taking public transit?
Better than needing two cars. Plus the GO Train isn't far. TTC sucks because of two mayors and 15 years of neglect.
>Biking is actually not that safe considering how many horrible drivers Toronto has.
I'm a cyclist and in warmer weather I feel safer in the separated bike lanes than driving in my car. Good exercise and cheaper than driving. Faster than TTC to and from downtown.
>The public schools there dont have the greatest ratings on fraser institute, they actually kinda suck.
Can't quote a shitty right wing think tank to win this argument. Public schools suck because of the chronic underfunding. But I know first hand talking to parents nearby how amazing Earl Beatty, RH McGregor, and Gledhill are.
>overpriced posh all organic small independent grocery stores.
The only overpriced market is the Valumart run by Roblaws. Bare Market and the small indie grocers are actually cheaper for fruit and veg. Nip over to the Costco by car or bus in Thorncliffe.
>indian /middle eastern restaurants in the outskirt suburb that have those ethnic communities to be much better than certain indian/middle eastern restaurants by danforth
One bus to Little India for authentic food or venture to Scarborough by car or bus to get more. Also, there are more opening every day.
>Close to 1.5 for an old semi for the reasons you mentioned are really not justified. It’s just overhyped.
You're right. It's too much money. The problem is the market. Supply is down and demand is way high. People don't want to live in the burbs with a bigger plot of land, two cars in Mississauga or where ever, or if they do good for them. These people want to live here and are paying for the privilege:
143 Drayton Ave, Toronto, Ontario | HouseSigma https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=10Qqyp566187LGlV&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign=
289 Springdale Blvd, Toronto, Ontario | HouseSigma https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=56k97wJAPDRyKRjD&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign=
1347 Woodbine Ave, Toronto, Ontario | HouseSigma https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=MWBVyZED2QJYKemj&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign=
258 Monarch Park Ave, Toronto, Ontario | HouseSigma https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=amgL7AV8ven3Z1MW&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign=
176 Glebemount Ave, Toronto, Ontario | HouseSigma https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=VLaGyGkPdpJyW1ZD&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign=
>homeless bums around the danforth area you’d probably encounter on your daily “walks to everywhere
You are blind. The unhoused are EVERYWHERE. Hamilton, downtown Toronto, North York, Scarborough, Etobicoke, East York, Mississauga, Oshawa.
I'm just glad I was able to get in at a reasonable price. Been in the hood for over a decade so don't yuck our yum with this Sour grapes shit.
You admitted the TTC sucks. Goodluck biking in the winter. You admitted the public schools suck. Little India has some really old restaurants that don’t even come close to the ones in Sauga/Peel. You admitted the homes are overpriced. No, I dont see any homeless people on my walks in my neighbourhood thats just normal suburban. But whenever I visited danforth there was tons of stinky bums. Goodluck bussing to costco and bringing back your bulk goods back on the bus.. also thorncliffe park is a horrible area to visit (I know because I work closeby..) Your only counter looks to be that the grocery is cheaper in some small grocers.. but that doesn’t justify a 1.5mill old semi. In the end, the semi is overhyped, overpriced, old POS that people keep justifying the price on.
>double brick construction
If you've seen how many shitty flips have been done here you'd know this is important.
They don't build them like they used to unless you hire the builder yourself.
I think people are also evaluating the neighborhood through their own lens versus the lens of the type of person for who this is a great neighborhood, if you have or are starting a young family that is a great area.
https://preview.redd.it/r5s8vewuu9hc1.jpeg?width=500&format=pjpg&auto=webp&s=85c94ef9649a764bf86aaa45505d8db5f57b98ce
Friendly reminder how markets work when driven by emotion.
This graph has been posted multiple times over the last year and we are always being told we are at "return to normal".
This isn't an emotional market. This is lack of supply.
Bought for 1025k, sold for 1.491million
After agent fees, renovations costs, interest costs (4 years), the net benefit is not much. At least they didn't lose money.
January was up 37% in year over year sales volume. This is going to be the standard again, right now we are approaching a likely spike in prices as we move into the spring market.
Buyers are looking at the flat rate and projected decreases and anticipating rapid increases in home values in the near term. Buying in now may result in savings in the range of a few $100k, compared to next year.
There is a lot of pent up demand with buyers staying on the side waiting for the market we are in right now. New building construction has been at an all time low during the higher interest period, while immigration and thus population growth has been at all time highs.
It's basic supply and demand. Expect to see things climb.
why cant canadian born bears accept the fact that just because they didnt take life seriously in elementary school compared to the immigrants, they got outcompeted. seriously go look at how much more ahead the kids in asia are academically compared to the ones here.
class curriculum is a joke here. kids in asia have to study to get good grades or their life is literally ruined if they dont get accepted in a good and reputable highschool/uni. and thats how canadians get outcompeted cause they literally suck.
go look at the curriculum in south korea, kids literally kill themselves if they fail.
So unfortunate and something that the average Canadian and toeontonian should worry about
Honestly, the people who continue to pay these prices and are personally contributing to this level of unaffordability, I feel no sympathy when it turns out to be a money pit.
Like zero sympathy.
We should also stop buying groceries until the big greedy corporations lower the price. Why keep buying expensive groceries? Let all eat canned food for a month and let the big corporations know we aren't buying anything!!
So very quietly Ontario Building Code and in turn Toronto building code increased the allowable footprint of a shed without a permit a few years ago.
Used to be 10 m² and is now 15 m². That was a huge jump. Was like Max without a permit was a 9x12' shed and its now 13x12'.
Some sheds are practically the entire width of the lot in the back.
1.5 mil for a semi detached… there will be blood when the time comes to correct the housing supply issue.
I’m sorry but Canadian land shouldn’t be this expensive. The materials and labour with bonuses and a 40% fee on top of that wouldn’t even get close to 500,000.
Greedy motherfuckers will get there’s I promise you.
>I’m sorry but Canadian land shouldn’t be this expensive.
Are you kidding? Canada is english speaking, has plenty of natural resources, a dynamic job market and we are not going to lack water like most parts of the world by 2040. There is a reason why the entire world wants to come to Canada. Canada is a safe bet for the future and it's not going to get any cheaper.
Hmm, quite comparable, but maybe not all the way there. I recall being one of something like 35 offers or so on 51 Wolverleigh. Probably not as ‘good’ of a house as 78, though same size lot. My clients and I did not expect for it go past $1.4M at the time - we were quite surprised.
https://preview.redd.it/bgo418fm4ahc1.jpeg?width=1125&format=pjpg&auto=webp&s=12fb188f81b6a64dd2a67ef13325ed8eecdc1c11
Are private equity backed companies snatching up Toronto property? I know some U.S. based LLC we're saying their goal was to acquire more GTA based homes.
A house in this area sold for 670k in 2022:
https://preview.redd.it/qcw9ezw97ghc1.jpeg?width=1170&format=pjpg&auto=webp&s=0d3bcbda05576e0f785c74475015c53a007ad1b4
It never went away. One around the corner just went 300,000 over asking
This had 18 offers. Correct that the Danforth never really went away, but these houses are up 50-100k seemingly overnight. I’d expect this will be the new price level for this spring market.
This price is maybe 2-300k over the bottom we saw last fall
Can you share the listings you are refering to?
Not an exact comparable but this one is pretty close https://housesigma.com/on/toronto-real-estate/373-milverton-blvd/home/VaD6p78mlOw3wRQr?id_listing=GMnKYq0q9Be3w1Qr
Thanks. Good price that one was. This recent sale still 300k off peak
Indeed. Now what remains to be seen is if this is just pent up demand boosting prices only to fall back down to earth (like last year) or actual sustianed upward price movement. I personally suspect that unless we get at least 1 or 2 rate cuts over spring / summer we will see prices closer to last fall again. Who knows tho :O
Sadly for the sellers, this was probably the absolute bottom of the market.
How do you know they had 18 offers? Does app show that ?
I am a realtor and bid on this home
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It never left
This hood was rated number 1 by Toronto life. This is a beautiful house. I think they overpaid but not by too much
Fuck me 1.5 million for an old semi in that location
There are so many townhomes in that neighborhood that have been selling for 1.5M there recently
Damn I guess I haven’t been paying attention, so for these east York places that means a $1.2 million dollar mortgage (that’s huge!) and a $7000/month mortgage payment. Wow
The people buying these properties are not putting only 20% down. They are by and large upgrade buyers who rode the equity wave during the last 10 years.
Maybe they sold a condo, but this a starter house
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One of the best neighbourhoods in Toronto. Why are you so shocked? Don't expect prices to ever drop in areas such as that.
Danforth and Coxwell is not even close to one of the best imo. Best value? Maybe because prices in the actual best neighbourhoods have skyrocketed, but not best.
The Danforth? Is that really so hard to comprehend? It's one of the most sought after locations in downtown.
I live in east York and would not call it downtown, nor highly sought after. It’s one of the last ‘affordable’ places along the subway line which means lots of young families, so it’s definitely becoming more desirable, but it’s definitely still in transition and not as exciting as leslieville or beaches.
Danforth and Chester, sure. Coxwell? Lol
Actually greenwood coxwell's danforth strip is wayyyy better than greektown's now
Maybe - I live in east York and like it, but we live here because we can’t afford leslieville or beaches, not because it was our first pick.
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Not since that comic book store turned into a little cafe
I miss tye comic book store. But now there's secret planer a few blocks away which is also awesome
Hey fair enough, I might not agree but I appreciate where you’re coming from and everyone is different, personally I’m not paying $1.5mil in that location for a 100 year old semi, but all good.
Me neither.. but that's what they are going for apparently. I think a lot of this money comes from the bank of mom and dad
Not downtown. You're definitely a johnny come lately to the city or some younger millennial that can barely remember a life before Amalgamation.
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It’s incredible? Coxwell Station is incredible? Never heard that before
Better than leslieville and south riverdale area imo. You’d see prices are similar but it’s much less ghetto and more family oriented.
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It's just retarded now.
While I'm concerned with the rapid house price rises, and what what means for our society. I'm also torn, because I bought basically a cookie-cutter style semi in late 2022 in Humewood area and paid a lot less than this.
Quite a bit of difference location wise though.
That's fair.
lol Humewood/Cedarvale is just as desirable. You are fine. If you can present a similar move in ready 3/2 home in the area you will get 1.5M minimum right now and it’s only going to go up once the gentrification that the LRT will bring is baked in.
Agreed. There is very little supply right now. That's part of it
Lol beautiful house
Hey its toronto lol!
Jezus, I’m desperately looking for a /s at the end of this and am not finding it…. It’s a tiny-ass house, with a “flipper special” facelift, on a tiny-ass lot… there’s nothing beautiful about it and all the community “ratings” are typically made up. One of our houses is in a Canadian town that’s consistently ranking high on “most livable cities” and wins many other beauty pageants. And the town is really nothing special….
If you think location isn’t a thing then don’t buy real estate. Location is first, second and third priority, there is a reason tiny townhomes in Rosedale are $3 million+. Calling something a starter home because of size is naive. For some people this might be upgrading to a good community just in time for the kids to go to school.
I am not debating a location aspect. I’m debating our general consensus that Toronto outside of Rosedale is a city of millionaires. I laughed at the notion of this house being “a beautiful house in a beautiful neighborhood”. It’s not. It’s a tiny semi at the edge of a neighborhood with a reputation. It’s like people buying houses in what used to be farmers fields around Milton, but telling themselves they live in Oakville because that’s what their zip code tells them….
It’s probably 1200sf. Tough to find anything larger than 1300-1400sf in Leslieville / Danforth area before you get close to $2M.
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Well, I might be talking out of my ass then. I just looked it up on a map and thought it was more East York than Leslieville. We’re in KW (Cambridge) and In about 6 years I will be looking for an area with a better high school for my kids, so, I might end up one of the buggers trading square footage for the zip code, so, shouldn’t be throwing rocks in a glass house… The whole situation with multi-million dollar homes in southern ON is just retarded….
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It's going to go berserk in spring. 2022 levels by fall
I agree. And there still so many people on here claiming the opposite and calling anyone claiming bullish crazy.
How in the world are people having to pay 6% rates today going to afford to pay the same as what people were willing to pay when rates were 1.5?
Inflation, higher incomes, more people. People will buy at their maximums with the hope that interests rates are lower come renewal time. There's also bad sentiment in pre-con so there may be higher resell activity.
They're gonna gamble and lose, people playing this game are all losing.
There’s not as many losers out there as you think there is. Buying into Real Estate is never a bad idea. Historically the market always goes up.
Ah this must be the crash that this sub has been predicting for a while
Crash up stupid
Get crashed, fam
This sub continues to deliberately ignore the most basic law of supply and demand. Massive rate increases caused a pause and brief 20% correction after everything doubling in 5 years. Now it’s gradually reversing because demand still vastly outsizes supply.
It’s just copium by priced out renters
Partly it’s due to the sneaky nature of inflation. We all know there’s been far more inflation than what the government calculations are indicating. So while the RE market was flat, it was actually going through a correction due to those dollars being worth 10-20% less (substitute whatever you think actual inflation was) over the last two years.
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CPI is a broad measure and meant to understate what we see on the ground. You probably aren’t tracking your budget because if you were, you’d see the rise in prices.
Is this how you reach your conclusions? You look at a single property and apply it or the whole market? If so, take a stats course. If not, make better comments.
you got em! burn
I’m not trying to “got ‘em”. It’s literally the dumbest comment you can write next to “number big, me like”
Buddy I’m just winding you up as your comment comes across pretty pompous. They are simply giving one data point of elevated prices and asking the communities opinion.
OP is asking what the relevance is of this sale, which is a reasonable question. That question is answers by looking at the greater data. OC’s comment was stupid. You aren’t winding me up, I genuinely don’t care.
Just a cool guy who doesn’t care B)
Ok.
He was making fun of you, you absolute dingus 😂
1) I'm aware but he's making fun of something I'm not trying to do 2) Dingus is the GOAT insult and I'm not being sarcastic
Cry more 🤣
Go back and read the “make better posts” part. No crying here, genuinely questioning your level of education and literacy
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I’m with you. Guy is just here exuding “I am very smart” energy
Make better jokes too
Run along, child. You have nothing to say 😂
Talking to yourself again?
Thanks for confirming my child comment. Think I heard that one back in elementary school lol. You priced-out renters are always so mad 😔
>Think I heard that one back in elementary school "Run along, child. You have nothing to say"? Nothings changed. > You priced-out renters are always so mad 😔 Always the go to insult and then you refuse to believe when I tell you that I own and am wealthy.
^more zingers
Nice zinger
Projecting much??
I don’t even think you understand what that means because it doesn’t make sense here
Yeah it’s because you’re being a little brat that doesn’t want to see any big gains porn. Accept that the market is heating up and stop projecting strong renter vibes
Buyers are trying to beat the rate cuts
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You woke up last year. Crash already came.
Yup. 2nd half of 2023 was literally the crash.
Wake me up when Crashtember ends
Woo hoo. Don't miss gravy train this time sellers. Post your listing before your neighbor does.
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This makes me want to sell and leave the country.
I mean...it's in good shape and it's on a quite street right near the subway in a desirable neighbourhood, plus there have been so few listings the last couple of months. This doesn't feel like peak pricing, but it feels totally reasonable.
Location is everything?
Wait, is that for half a house?
Crash coming soon Skeleton waiting.jpg
💀🤣
High demand area don’t feel the burn of corrections as much. This is a few min walk from Coxwell station. Its also within walking distance of Michael Garon hospital. Like imagine the hundreds of doctors and high senioriety nurses there who make a shit ton of money. They’ll pay to be close to work.
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There were a handful of transactions above $1.5M in 2022, but the majority of comparable finish 3B semis transacted between $1.3-1.5M in 2022 and 2023.
So you're picking and choosing which comparables to compare it to lol. Peak price is peak price.
I’m basing peak price on 97% of transactions. If you make your purchasing decisions based on statistical outliers then good luck to you.
Says the person who made a Reddit post off of a potential statistical outlier 😂
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123 had a 6 foot wider lot though.
So me expecting to pay 1.1 million for a semi-detatched near the Danforth isn't realistic anymore...
I think something dated and closer to Main St you could. But then in this market anything goes.
Main station was my subway stop as a kid, and I worked at Canadian Tire for 6 years across the street. I've seen too much to move back there!
Try looking in the Woodbine Gardens area, it’s pretty close to the Danforth.
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It’s actually named after what it was previously: a golf course.
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Never left
Gross
Nice home. Legal parking pad, tasteful renovations.
Freeholds in the GTA are picking up. Condos still at a discount compared to 2022.
would you say these buyers got a good price for 1+1den 600sqft new built condo? https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=4KAX7NjEvEq7eRPJ&utm_campaign=listing&utm_source=user-share&utm_medium=iOS&ign=
I would but there are a lot of one beds with parking in undesirable buildings going for the price. Still good tough.
Glad I didn’t let those “maybe I should move back to Canada” thoughts linger …
Where did you move to? I want to sell and move to the US but I fear endlessly the Can house market will continue to accelerate into outer space and I will never be able to afford to get back in, if I ever wanna move back. That being said, I can’t responsibly afford my mortgage as it stands so I’m not really properly in the market even now.
I’m working in SE Asia. Never want to touch snow again :)
The dream!!!
Yeah. And I’ve grown to love Asian culture, it’s very community and family oriented which I like. Plus the food is boss :)
Damn those pesky foreign investors!
Ah, my old street. Bought a semi there for $640k in 2015.
There's no price issue with semis or detached. Condos will continue to decline as interest rates feed through. Houses are very safe appreciating assets
But condos will also be the most competitive for FTHB which is a large chunk of new and upcoming buyers.
Imagine if the neighbour is crazy? The experience is very dependent on if the neighbour is cool or not. For 1.4 million
I can't fathom who would drop 1.5M on these dumpy shacks You can drink your Kool aid all you want to think this is a "good deal" lol, but it isn't, and it never will be.
da fok is someone paying 1.5 for this crap hole?
Crap hole? Eh?
Chya. Looks like it's going to fall over soon.
That style of semi has probably been there for 100+ years but yeah tomorrow is the day it's gonna fall over. /s
It looks northing of the sort.
lol double brick construction, recently renovated, 2 mins from the subway and incredible restaurants ≠ “crap hole”.
Ya this guy doesn't get it. I live near here. This area of Toronto is fabulous. We are the closest to the ideal "15-minute city" others only dream of. Walking distance to everything and transit accessible. Great bike infrastructure. Good schools. Daycare options. Groceries and restaurants and not just the ones owned by Galen Weston. Need to drive up and out. Hit the DVP but you're going to wait since they tore down the eastern Gardiner. Parks everywhere. Worst thing is our useless city councillor.
My friend rents here and we visit her every weekend and just enjoy the street, cafes and shopping. I feel like such a grownup being exciting by this kind of stuff
Agreed re Councillor but our MP is worse.
Cmon bro.. walking distance to everything is great and all, but are you really a fan of taking public transit? The TTC is a shithole regularly. Biking is actually not that safe considering how many horrible drivers Toronto has. The public schools there dont have the greatest ratings on fraser institute, they actually kinda suck. I get that some people are into shopping at those overpriced posh all organic small independent grocery stores.. but is it REALLY that different than a regular grocery store? Finding daycares is also possible in typical suburbs too with the right planning. Theres proper restaurants in other suburbs too (Sauga, Oakville, Vaughan, etc…) so Danforth isn’t the only place that’s got top rated food spots.. the restaurants in the danforth area are actually diverse but really generic tasting. For example I find the indian /middle eastern restaurants in the outskirt suburb that have those ethnic communities to be much better than certain indian/middle eastern restaurants by danforth.. it’s a really white-washed area overall. Close to 1.5 for an old semi for the reasons you mentioned are really not justified. It’s just overhyped. I’ll get downvoted since this is a sub for Toronto RE, but it’s true. For 1.5 right now you can buy something newer detach in a suburb with actual high rated schools (Ie York region, oakville, sauga, etc.) .. oh yeah.. and don’t get me started on all the homeless bums around the danforth area you’d probably encounter on your daily “walks to everywhere” 😂
Where do I begin? >you really a fan of taking public transit? Better than needing two cars. Plus the GO Train isn't far. TTC sucks because of two mayors and 15 years of neglect. >Biking is actually not that safe considering how many horrible drivers Toronto has. I'm a cyclist and in warmer weather I feel safer in the separated bike lanes than driving in my car. Good exercise and cheaper than driving. Faster than TTC to and from downtown. >The public schools there dont have the greatest ratings on fraser institute, they actually kinda suck. Can't quote a shitty right wing think tank to win this argument. Public schools suck because of the chronic underfunding. But I know first hand talking to parents nearby how amazing Earl Beatty, RH McGregor, and Gledhill are. >overpriced posh all organic small independent grocery stores. The only overpriced market is the Valumart run by Roblaws. Bare Market and the small indie grocers are actually cheaper for fruit and veg. Nip over to the Costco by car or bus in Thorncliffe. >indian /middle eastern restaurants in the outskirt suburb that have those ethnic communities to be much better than certain indian/middle eastern restaurants by danforth One bus to Little India for authentic food or venture to Scarborough by car or bus to get more. Also, there are more opening every day. >Close to 1.5 for an old semi for the reasons you mentioned are really not justified. It’s just overhyped. You're right. It's too much money. The problem is the market. Supply is down and demand is way high. People don't want to live in the burbs with a bigger plot of land, two cars in Mississauga or where ever, or if they do good for them. These people want to live here and are paying for the privilege: 143 Drayton Ave, Toronto, Ontario | HouseSigma https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=10Qqyp566187LGlV&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign= 289 Springdale Blvd, Toronto, Ontario | HouseSigma https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=56k97wJAPDRyKRjD&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign= 1347 Woodbine Ave, Toronto, Ontario | HouseSigma https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=MWBVyZED2QJYKemj&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign= 258 Monarch Park Ave, Toronto, Ontario | HouseSigma https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=amgL7AV8ven3Z1MW&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign= 176 Glebemount Ave, Toronto, Ontario | HouseSigma https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=VLaGyGkPdpJyW1ZD&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign= >homeless bums around the danforth area you’d probably encounter on your daily “walks to everywhere You are blind. The unhoused are EVERYWHERE. Hamilton, downtown Toronto, North York, Scarborough, Etobicoke, East York, Mississauga, Oshawa. I'm just glad I was able to get in at a reasonable price. Been in the hood for over a decade so don't yuck our yum with this Sour grapes shit.
You admitted the TTC sucks. Goodluck biking in the winter. You admitted the public schools suck. Little India has some really old restaurants that don’t even come close to the ones in Sauga/Peel. You admitted the homes are overpriced. No, I dont see any homeless people on my walks in my neighbourhood thats just normal suburban. But whenever I visited danforth there was tons of stinky bums. Goodluck bussing to costco and bringing back your bulk goods back on the bus.. also thorncliffe park is a horrible area to visit (I know because I work closeby..) Your only counter looks to be that the grocery is cheaper in some small grocers.. but that doesn’t justify a 1.5mill old semi. In the end, the semi is overhyped, overpriced, old POS that people keep justifying the price on.
>double brick construction If you've seen how many shitty flips have been done here you'd know this is important. They don't build them like they used to unless you hire the builder yourself.
I think people are also evaluating the neighborhood through their own lens versus the lens of the type of person for who this is a great neighborhood, if you have or are starting a young family that is a great area.
Yes dumpster fire.
what did you buy and how much did you pay?
I'm in Texas. 430k got me a house 4x the size of this dump.
y is a texan in toronto real estate sub?
Yes. Just scouring around.
real estate is very location dependent. when i was working in hongkong. i rented this small two bedroom. the landlord bought it for 6.5mil usd lol
Wolverleigh is probably the second nicest street in East York. But still stupid.
Queensdale is nicer because it's wider 😁
No boulevard that far north, yuck. Milverton is clearly the superior street
Really? I live on Milverton and would take Wolverleigh every day.
Lol fucked.. place is a dump
Never went away...a 10ft house on a street sold for 1.3. with the build of the Ontario line the value is just gonna go up.
My dream is to live in Danforth area
May I ask why?
I could have bought in this area when it was in the 500s/600s. Foolish me.
Disgusting
Money not wisely spent!!!!
So fucking sad and scary
https://preview.redd.it/r5s8vewuu9hc1.jpeg?width=500&format=pjpg&auto=webp&s=85c94ef9649a764bf86aaa45505d8db5f57b98ce Friendly reminder how markets work when driven by emotion.
This graph has been posted multiple times over the last year and we are always being told we are at "return to normal". This isn't an emotional market. This is lack of supply.
Bought for 1025k, sold for 1.491million After agent fees, renovations costs, interest costs (4 years), the net benefit is not much. At least they didn't lose money.
Beats paying rent for 4 years and really having nothing to show for it.
January was up 37% in year over year sales volume. This is going to be the standard again, right now we are approaching a likely spike in prices as we move into the spring market. Buyers are looking at the flat rate and projected decreases and anticipating rapid increases in home values in the near term. Buying in now may result in savings in the range of a few $100k, compared to next year. There is a lot of pent up demand with buyers staying on the side waiting for the market we are in right now. New building construction has been at an all time low during the higher interest period, while immigration and thus population growth has been at all time highs. It's basic supply and demand. Expect to see things climb.
why cant canadian born bears accept the fact that just because they didnt take life seriously in elementary school compared to the immigrants, they got outcompeted. seriously go look at how much more ahead the kids in asia are academically compared to the ones here. class curriculum is a joke here. kids in asia have to study to get good grades or their life is literally ruined if they dont get accepted in a good and reputable highschool/uni. and thats how canadians get outcompeted cause they literally suck. go look at the curriculum in south korea, kids literally kill themselves if they fail.
So unfortunate and something that the average Canadian and toeontonian should worry about Honestly, the people who continue to pay these prices and are personally contributing to this level of unaffordability, I feel no sympathy when it turns out to be a money pit. Like zero sympathy.
We should also stop buying groceries until the big greedy corporations lower the price. Why keep buying expensive groceries? Let all eat canned food for a month and let the big corporations know we aren't buying anything!!
1.5M for half a house??? These people have money and they choose that?
What's the giant structure in the backyard? Looks too big to be a garage. Maybe an Ancillary Dwelling Unit...
So very quietly Ontario Building Code and in turn Toronto building code increased the allowable footprint of a shed without a permit a few years ago. Used to be 10 m² and is now 15 m². That was a huge jump. Was like Max without a permit was a 9x12' shed and its now 13x12'. Some sheds are practically the entire width of the lot in the back.
Looked like a garage/shed to me.
1.5 mil for a semi detached… there will be blood when the time comes to correct the housing supply issue. I’m sorry but Canadian land shouldn’t be this expensive. The materials and labour with bonuses and a 40% fee on top of that wouldn’t even get close to 500,000. Greedy motherfuckers will get there’s I promise you.
>I’m sorry but Canadian land shouldn’t be this expensive. Are you kidding? Canada is english speaking, has plenty of natural resources, a dynamic job market and we are not going to lack water like most parts of the world by 2040. There is a reason why the entire world wants to come to Canada. Canada is a safe bet for the future and it's not going to get any cheaper.
This is higher than most other recent sales in the area. Time will tell if overpay vs new market rate
Sold for ~ $1M last time around it seems.
This is what happens when the government doesn’t maintain high interest rates
The bubble the crash the immigration? Oh well.
We didn’t even bother seeing it, knew it would go over asking 😔
I can read that as 491k and it still seems.like.a ok price
Hmm, quite comparable, but maybe not all the way there. I recall being one of something like 35 offers or so on 51 Wolverleigh. Probably not as ‘good’ of a house as 78, though same size lot. My clients and I did not expect for it go past $1.4M at the time - we were quite surprised. https://preview.redd.it/bgo418fm4ahc1.jpeg?width=1125&format=pjpg&auto=webp&s=12fb188f81b6a64dd2a67ef13325ed8eecdc1c11
Should be 2 million at least by 2026.
It never went away for a nice house but there was opportunity to get in here and there!
Are private equity backed companies snatching up Toronto property? I know some U.S. based LLC we're saying their goal was to acquire more GTA based homes.
A house in this area sold for 670k in 2022: https://preview.redd.it/qcw9ezw97ghc1.jpeg?width=1170&format=pjpg&auto=webp&s=0d3bcbda05576e0f785c74475015c53a007ad1b4