242 Glen Park Ave. has been trying to sell since 2017, which is a long time of a house to sit on the market in Toronto... even with the recent slump …
242 Glen Park Ave. has been trying to sell since 2017, which is a long time of a house to sit on the market in Toronto ... even with theNow, to be fair, the house is clearly being sold for land value only, as most of it was destroyed by a recent fire that left little more than a burnt-out ruin on the property. But even before the fire, the listings said the home was being sold for land value only.
And while generally, land value in Toronto is at a premium, especially for a decent sized 25- by 130-foot lot, the asking price for 242 Glen Park Ave. might still be too high for some. While the listing does mention the location is in a "high demand" area and 242 Glen Park Ave. is surrounded by "custom built million dollar homes", that's not the full picture.
The Yorkdale and Glen Park area has seen a 13 per cent drop in property values in the last 12 months. Also, the average house sells for around $1.2 million in this neighbourhood, whereas in North York, as a whole, homes sell for an average of over $2 million. So, while you could build a stunning custom home on 242 Glen Park Ave., one might argue that the location doesn't really make it worth it. Or it at least doesn't make it worth it in the short term where you're going to inevitably lose money because there's no way you can build an entirely new house for under $200,000... well, not one that will sell for millions.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mitchell Cohen Publishes Rhythms of Change: A Look at Toronto's Regent Park TransformationThe CEO of The Daniels Corporation, Mitchell Cohen, has released a new book called Rhythms of Change. The book documents the 18-year transformation of Toronto's Regent Park, emphasizing the importance of community involvement in urban renewal projects.
Read more »
Toronto's largest park is set to get even biggerRouge National Urban Park spans an impressive 79 square kilometres across Toronto and Pickering, and the enormous public space is soon expected to gr…
Read more »
Linkin Park will be coming to Toronto as part of a new world tourLinkin Park fans, the good news just keeps on coming. The band's first album since 2017, 'FROM ZERO,' comes out tomorrow, Nov. 15, 2024, and now they…
Read more »
It's about to cost even more to park your car in TorontoWhile parking fees in Toronto are known to be hefty, you might notice them increase even more soon, as the Toronto Parking Authority (TPA) is calling…
Read more »
One person seriously injured after stabbing at park in Toronto's downtown coreOne person suffered serious injuries after a stabbing at Barbara Hall Park on Friday morning, Toronto police say.
Read more »
Toronto man, 22, charged in human trafficking investigation: policeA Toronto Police Service logo patch is shown in Toronto on Sept. 5, 2023.
Read more »