What’s making the news in the Toronto Beaches area when it comes to real estate? Some talk of a softening market (of the type Realtors, buyers and sellers are seeing all over the GTA). But what exactly does a dollar – or half a million of them – get you in the Beach?
Recently Toronto Life ran a story about a family that was determined to find a detached house for less than $475,000, in the Upper Beach. What made it interesting was that the buyers were actually a real estate agent and a home stager – hardly strangers to the whole real estate game.
The first house that met their needs was listed at $469,900, but sold for $536,600 – even though it backed onto railroad tracks.
The second home, a three bedroom near Kingston Road and Victoria Park, was listed at $499,900, but sold for $525,000 – perhaps an example of underpricing to attract more buyers. The couple finally found a home originally listed at $519,000, that had been reduced to $489,000 after sitting on the market for two months. They quickly bought for $480,000 – just a day before the sellers had intended to take the house off the market and re-list it at a better time.
If you are not picky about a detached home, and are willing to live in higher-density properties, the Beach can be downright affordable. This blog showcases two Beaches properties for sale, each no more than a couple of blocks from the lake, for under $400K.
Don’t despair; if you have less than $300K you can still buy in the Beach. We found this prime Beaches property listed at just $200,000. Of course, you may have to quit your day job to make it work for you!
Have you found an affordable Beaches listing or would you like to promote the sale of your own Beach home? Post a comment!