Today, we’re going to look at at what $700,000 bought in 2014 – and the good news is that this budget range opened up all sorts of good options. $700,000 isn’t generally enough to get a renovated property in prime neighbourhoods like Riverdale and Roncesvalles, but there were reno’ed options in Little Portugal, Upper Beaches and Parkdale.
As of writing:
- There were 273 house sales between $600,001-$700,000
- 62 of the houses had 1 or 2 bedrooms
- 41 had more than 3 bedrooms
- 42 were detached; 89 were rowhouses (attached on both sides)
- Bidding wars in this price were fiercest; the average house sold for 109% of asking!
- The east end was WAY more affordable – 185 of those sales happened east of Yonge, and 90 west of Yonge
Here’s a sampling of the kinds of houses $700,000 bought in 2014:
If you had $700,000 to spend and were looking to buy a condo, you had plenty of excellent options. After a few slow years, condos in this market were once again popular (probably because a lot of Buyers realized their budget wouldn’t get them the house they wanted.) Locations, size and finishes were excellent in this price range.
- There were 365 condo sales in this price range
- Downtown condos sold for 99% of asking
- Most were 2 bedrooms (3 condos had 3 bedrooms)
Here’s a sampling of the condos that were purchased for $700,000 in 2014: