With a benchmark price of $1,161,200 in July 2023, many homebuyers are priced out of Toronto. Or are they?
This detached home has been on the market for 30 days and is far below the city’s benchmark price – more than $900,000 below to be exact.
Located in New Toronto near the hospital, schools, and several amenities, the modern bungalow has a high walking score of 83 and a transit score of 65.
The 3-bedroom home has a fully-finished basement, 2 built-in electric fireplaces, a built-in wine rack, and a heated towel rack.
It also has 2 3-piece bathrooms, 2 storage sheds, a spacious walk-in closet, and a large deck in the backyard.
With all of these amenities included in the move-in ready home, how can it be priced so low?
The home was previously listed for over $800,000 in 2022 and was sold for well above the asking price – likely due to bidding wars. Though its current listing price is under $300,000, Zoocasa’s Home Estimate Zoopraisal notes that similar properties sold on average for $1,200,969.
Since it’s expected to sell quickly, interested buyers should get their offers in soon – especially before competition builds.
If you’re looking in Toronto, our expert agents are ready to help you navigate the ever-changing market. Give us a call today to start planning your next real estate endeavour.
