30-foot frontage? That’s worth $1.3 million

Even if your Leaside bungalow is a tear-down, it’s still worth more than a million bucks if you have a 30-foot frontage.

A South Leaside bungalow with a 30-foot frontage recently sold for over $1.3 million, suggesting that builders are still finding value in the neighbourhood.

Low inventory in Leaside and Bennington Heights has resulted in sellers reaping the benefits of multiple offers.

During January only nine detached homes changed hands in the area.

At the middle of February the first 13 homes sold went nine percent higher on average than the asking price, and in just nine days.

The highest valued sale on TREB MLS to that point in 2016 was $1.761 million for a home on Leacrest Rd. in South Leaside.

There were 14 listings available in Leaside, including a 41-foot storefront on Bayview for $2.5 million.

Jethro Seymour is a broker at Johnston & Daniel. All figures are from the Toronto Real Estate Board’s Multiple Listing Service.