Renovated Toronto house asking less than it sold for five years ago

Toronto real estate has certainly changed a lot since 2021. If you recall, five years ago, buyers were routinely throwing hundreds of thousands of dollars over asking at houses, seemingly just for the privilege of winning a bidding war.

Now, some of those same houses are coming back on the market for less than buyers paid.

And in the case of 16 Queensdale Ave., the Danforth East home is not only asking less than its 2021 sale price — it's doing so even after a substantial renovation.

The front entrance. 

The two-bedroom house is currently listed for $698,000, $55,000 less than it sold for five years ago.

The updated living room. 

Back in May 2021, 16 Queensdale Ave. was listed for $550,000. Unsurprisingly for anyone who remembers the absolute chaos of Toronto's pandemic-era real estate market, that's not remotely what it sold for.

The kitchen walks-out to the backyard. 

The property ultimately fetched $753,000, a whopping $203,000, or nearly 37 per cent, over asking.

Fast forward five years, and things look very different.

The downstairs recreation room. 

The home actually returned to the market briefly in February 2026 with an asking price of $820,000, but the listing was terminated about a month later without a sale.

The living room. 

Now, just a few months later, it's back with a considerably lower asking price — and seemingly a considerably fresher interior.

The updated kitchen. 

Comparing the photos from the earlier 2026 listing with the current ones, it looks like the house has undergone significant updates in the intervening months.

The main floor has new flooring and a brand-new kitchen with new cabinetry, countertops and stainless steel appliances, including a dishwasher.

The open-concept main floor. 

The result is a bright, open-concept living and dining space that feels simple and contemporary without looking overly flipped.

The primary bedroom. 

Another interesting change happened upstairs. Earlier this year, the home was marketed as a one-bedroom-plus-den. It's now being sold as a two-bedroom house.

The second bedroom. 

That's actually something of a return to form for the property, as the 2021 listing noted that the home had "previously" been a two-bedroom and could be converted back.

Five years later, it appears that has finally happened.

The upstairs bathroom. 

Both upstairs bedrooms are reasonably sized, and they're joined by a newly renovated bathroom. New carpeting also covers the stairs.

The basement. 

Downstairs, the finished basement adds some much-needed bonus space to what is a relatively compact home.

The second bathroom. 

There's a second three-piece bathroom, a new washer and dryer and enough room to use the lower level as a family room, office, gym or guest space.

The backyard. 

The backyard is a decent size, with enough room for outdoor dining, gardening, entertaining or kids to run around.

But ultimately, the low asking price and the fact that the house is actually move-in ready make this listing particularly interesting.

New appliances in the kitchen. 

Of course, the home will probably sell for more than $698,000.

The cheapest semi-detached house to sell in the area recently still went for around $850,000, making it pretty likely that the sub-$700,000 price tag is designed to attract attention and multiple offers.

An old listing photo of the back of the house. 

And, ironically, that's exactly what happened with this house the last time it sold, but whether buyers are still willing to play the same game five years later remains to be seen.