In June 2015, I posted a 2+1 bedroom, 3 bathroom semi duplex with a 2 car garage on an 18 x 120 foot lot at 167 Macpherson Avenue in Summerhill...

It was a house that would need a lot of work to turn it into a single family home but could be great when done.  But it was listed at $1,649,000.

I thought that was crazy.  Sure, it was Summerhill.  But still!

Three months later, the price was dropped to $1,629,000...

$20,000!?!  That wasn't going to help.

It sold a month later for $1,585,000.

At the time, I thought that was crazy.  Not so much anymore.

Last week, this 3 bedroom, 3 bathroom semi with a 2 car garage on an 18.5 x 120 foot lot down the street at 135 Macpherson Avenue in Summerhill was put on the market.

The asking price was $1,495,000.  So, maybe a little low considering 167 sold for $1,585,000 two years ago and would be a $1,830,000 house today (at a 10% increase).

It sold...

For $2,210,000.

Or a 25% annual increase over a house that was crazy to begin with.

phtoos via