Scarborough Detached Home Lists Under $700,000 Amid Market Shift
AI-generated image · Bay Street Wire
A six-bedroom property at 54 Westbourne Ave. hits the market for $688,800, reflecting broader price declines in the Golden Mile area.
A detached house at 54 Westbourne Ave. in Scarborough has been listed for $688,800, a price point that, as BlogTO first reported, is increasingly rare for Toronto. The property features six bedrooms, four bathrooms, a private double driveway, and an attached garage on a 45-by-105-foot lot.
While the price is low, the property requires significant work. BlogTO reports the home is aimed at builders, investors, and first-time buyers, noting that the house is dated and has sections of missing siding.
This listing arrives as home values in the surrounding area decline. BlogTO notes that recent sales for detached homes in the neighborhood ranged from roughly $695,000 to $1,087,500, averaging approximately $785,925. Detached home prices in the area have fallen roughly 20% year-over-year, while overall property values have dropped about 15% over the last 12 months.
BlogTO attributes this downturn to the instability of the Toronto condo market, which has impacted the Golden Mile area of Scarborough. The Toronto Star previously reported that a massive redevelopment plan for the Golden Mile—which once envisioned up to 75 towers—has been upended as developers rethink projects and condo presales dry up.