487 dawes road toronto

Home bought and quickly relisted for over $210k more shows state of Toronto's market

The Toronto area's housing market has been all over the place lately, with desperate owners selling at enormous losses in some cases and heated bidding wars returning in others.

It is true that after a slow year for activity, long-sidelined buyers are restless and over-eager to get their foot in the door and take advantage of the lower interest rates expected to come later this year. And, being Toronto, demand for housing seems to be perpetually insurmountable regardless of the economy, especially in the face of such a rapidly growing population.

Though the latest data shows sales numbers in the region are still slightly lower than this time last year, experts say that things are indeed picking up again, and are set to surge later in spring.

One newly listed property serves as a perfect example of that.

The small detached house at 487 Dawes Road near St. Clair Ave. E and Victoria Park Ave. has hit the market this month for $1,128,888 — a price that, beyond seeming too high for the property, is more than $210,000 higher than the home was purchased for just a few months ago.

487 dawes road

Sold history for the property from Zolo.ca show that it was sold for more than $216,000 less than it is currently going for, just a few months ago.

The listing history shows that the 2+1 bedroom, two bathroom bungalow was listed last fall for $935,000 and sold just over three months later for an even lower $912,000 in December.

The current price — for which the home seems to have sold conditionally — marks a $216,888 jump in less than four months without, it seems, any renovations being done to the home whatsoever.

487 dawes road

The photos on the left, the current listing phtoos, show no improvements made to the home from when it was sold for far less just a few months ago, as seen in the earlier listing photos on the right. Photos from RE/MAX Epic Realty/Chestnut Park Real Estate Limited.

Though new listing photos depict the home staged with different furniture, the basics seem to be all the exact same as they were in the December listing pics, with much more being asked for the real estate without any apparent investments made in the interim.

If it was indeed purchased for anywhere around the asking price this month (after just eight days on the market, no less), it would be an easy and profitable flip for the sellers, and could be an indication of things to come as the market wakes back up.

Lead photo by

RE/MAX Epic Realty Inc., Brokerage/Zolo.ca


Latest Videos



Latest Videos


Join the conversation Load comments

Latest in Real Estate

You can buy an entire 18-unit Toronto apartment building for $7M right now

This $15M ultra-modern Toronto home was designed to maximize views of the lake

Toronto apartment sold at significant loss shows just how turbulent market is

City of Toronto aims to expropriate block of storefronts for transit project

Ontario landlord slammed for renting out dingy shack with no door for $1,350 a month

Mississauga condo sold at massive loss shows just how much prices fluctuate

Massive skyscraper just approved for Toronto will be one of the city's tallest

You could live in this 19th-century Ontario schoolhouse for $3M