5 of the Most Affordable Homes Sold in the GTA in July

The average selling price for a condo in the Greater Toronto Area hit $769,999 in the second quarter of the year, but many properties have changed hands for significantly less in the past month.

Real estate agency Zoocasa rounded up five of the most affordable homes sold in the GTA in July. All condos, some are move-in ready, while others may need some repairs; some offer parking while others have enviable amenities.

Despite their differences, one-, two-, and even three-bedroom units all sold at or below list price as rising interest rates weighed on the real estate market.

Check out five of the cheapest homes that sold in the GTA last month below.

1. 205 – 940 Caledonia Road | $399,000

Right at Home Realty

Right at Home Realty

  • three rooms
  • a bathroom
  • a parking lot

One of the most affordable properties sold in the GTA last month, this “well maintained” three bedroom condo is located near amenities such as Yorkdale Mall, Lawrence Square and the TTC. Although it took six weeks to sell, the unit achieved the listed price.

2. 605 – 735 Don Mills Road | $415,988

Right at Home Realty

Right at Home Realty

  • room
  • a bathroom
  • a parking lot

This one-bedroom unit has a large closet, south-facing wall-to-wall window and separate living and dining room. Building facilities include a leisure center and swimming pool. Previously on the market for $440,000 in May, the unit took just under three weeks to sell for $14,000 below the last listed price.

Touted as “the perfect investment or first home,” this spacious two-bedroom condo has large rooms with lots of storage but is in need of repairs. Pieces of parquet are missing everywhere, the bathroom is dingy and the kitchen cupboard doors are nowhere to be found. There are also “warning” signs on the kitchen and bathroom faucets. The unit took nearly five weeks to sell and made $26,000 under demand.

4. 310 – 707 Eglinton Avenue West | $440,000

Right at Home Realty

Right at Home Realty

  • room
  • a bathroom
  • zero parking

This charming and bright one bedroom unit has been meticulously maintained and recently repainted. It is located in the Roycroft, a restored art deco building which is within walking distance of the ring line, restaurants, schools and the future Chaplin Crescent LRT station. It took just over five weeks for the unit to sell for $59,000 below the listed price.

5. 405 – 2615 Keele Street | $475,000

eXp Real Estate

eXp Real Estate

  • room
  • a bathroom
  • a parking lot

Located in a well-maintained low-rise building, this one-bedroom unit features crown moldings, hardwood floors and granite counter tops. It is minutes from countless amenities including Yorkdale, York University, 400 series highways and the TTC. It only took four days for the unit to sell for $9,999 below demand.

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