Sold! Baby bungalow gets bid up to $760K
As condo prices continue to climb in Toronto, the small home becomes an attractive option for those who like the idea of a backyard and some extra space from their neighbours. These properties don't work for everybody, but there's an undeniable appeal to such cute houses.
This baby bungalow at 121 King Edward Avenue in the scorchingly hot Woodbine-Lumsden area is a great example of why such properties are so appealing. Unsurprisingly, it's also an example of how they almost invariably sell for over asking.
While the space on offer is obviously limited, the interior is designed in a manner similar to a contemporary condo, and the outdoor space is much larger and more private than is typical of a communal building. The quiet street was also likely attractive to those who made offers.
This is a highly attractive area. Home prices in Woodbine-Lumsden have increased more than anywhere else in the city over the last decade save for Greenwood-Coxwell. As a detached home, it was probably under-listed at $599K.
The listing price doesn't mean much here. The average price of homes in the area has crept up to around $800K, so this small but unique property was always going to attract lots of interest. In today's market, $760K is entirely reasonable for this home.
Join the conversation Load comments