CRAZY HOME SALES IN TO !

The Essentials
  • Address: 139 Christie St. on the cusp of Seaton Village and Christie pitts
  • lot 17.17 x 130
  • Listing price: $499,000
  • Time on the market: 6 days
  • Selling price: $988,018

This small, worn-out bungalow right near Christie Pits just sold for almost exactly double the asking price. Listed on the market at $499,000, it was snatched up for $988,018 just six days later. On paper that sounds nuts, but given property values in the area, this one was clearly priced to sell quickly.

 

69 Muriel – Toronto  Greektown

Ask $679,900.00

Sell: $1,050,000.

Lot   20 x 78 ft

It’s a sign of what little $1-million now buys in Toronto’s soaring housing market – a tear-down home on a skinny lot fetching a premium price in a neighbourhood known for its blue-collar roots.

Last week, the detached bungalow with an asking price of $679,900 in the Greektown neighbourhood on Toronto’s east side attracted a bidding war.

This tiny Toronto house sold for $370,000 over asking (The Globe and Mail)

The front yards in the area, near the major intersection of Danforth Avenue and Pape Avenue, are often taken up by parking pads barely large enough to hold a car. Some properties have a small patch of grass that residents on the Prairies would scoff at for being a poor excuse for a lawn.

A million-dollar property is far from luxury in Toronto.

The sellers of 69 Muriel Ave. have owned their home for a half-century. They listed their property on Jan. 23, and began accepting offers on Feb. 1. “Attention builders, contractors, renovators and envisioners,” the listing blared. “Don’t miss out on this chance to build a fabulous new home.” For good measure, the feature sheet added: “With front pad parking!”

On Feb. 2, after only 10 days on the market, the bungalow built in 1912 sold for an astonishing $1,050,000.

In 1966, the owners paid $10,000 for their modest abode. Adjusted for inflation, it works out to roughly $73,000 today.

The residence had an assessed value of $443,000 on Jan. 1, 2012, and $645,000 on Jan. 1, 2016, according to Municipal Property Assessment Corp.

Multiple bidders competed for the tear-down on a tiny lot measuring 20 feet wide by 78 feet deep. The winning bid emerged 54 per cent above the list price and caught industry observers by surprise – $370,100 higher than the asking price.

partly taken from the Globe and Mail business section.

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