The Toronto real estate market may be in the process of cooling off ever so slightly, but that didn’t stop a dated North York two-bedroom house from selling for nearly $2 million.
The home, located at 321 Hillcrest Avenue in the Willowdale East neighbourhood, hit the market on October 15 with an asking price of $1,888,000. It sold just three days later for a whopping $1,990,000.
The home itself is on the small side, with just two bedrooms and one bathroom, and the design looks like it hasn’t been changed since the 1970s. It’s a closed floor plan with wooden laminate cabinets and retro wallpaper in the kitchen, a variety of carpeting throughout, and a finished basement with wood panelling.
- You might also like:
- Multi-property owners are buying up the most homes in Ontario
- "Schitt's Creek" Toronto mansion is back on the market for almost $22M
As highly competitive as the Toronto real estate market is, it is almost guaranteed that a buyer isn’t paying that much for a dated two-bedroom house alone. The size of the lot, for one, would be a big draw for a buyer looking to build a new home. It measures 50 ft x 130 ft, giving plenty of space to build. The property is also surrounded by newer, larger builds, so it wouldn’t be surprising if that was the buyer’s end goal.
The listing also highlights the location of the property with its proximity to Bayview, Sheppard, and the 401, plus it’s nearby access to the subway.
According to Zolo, the average asking price of a property in Willowdale East is $1,423,897, which would put this sale well above that.