Toronto real estate prices are rising again, and a scarcity of inventory has potential buyers debating whether to buy a million-dollar condo or a low-rise property for almost twice as much. Then there’s the three-story, 2,100-square-foot Upper Beach condo with a massive spire, which is causing havoc on the MLS.
The condo at 21 Swanwick is part of a once-historic church that, like many other Toronto real estate locations, has been turned into a modern living area with upgraded mechanicals and all new kitchen and bathroom fixtures.
“They’re quite unique, for people who like character,” says listing agent Jen Laschinger, of Bosley Real Estate. “They don’t want to be in a cookie cutter box in the sky.”
On the one side, the listed unit features the typical white, dark wood, and stainless steel decor found in most new homes and condos.
There are exposed brick, cathedral windows, and a spire that resembles a bell tower (you know, for those looking to compensate). The unit likewise features the low-maintenance benefits of a condo, but also the advantages of three levels, a finished basement converted into a game room, a front door, a porch, a terrace, and a deck with a gas hookup for the BBQ.
According to the agent, the home is valued at $1,649,000, roughly half a million more than the seller paid almost five years ago. That’s nearly on par with the highest-ever average price of a detached home in Toronto.
According to the Canadian Real Estate Association, home prices are rising across the country, with the average sales price up 13.9 percent year over year in September.