In December, I posted this 6 bedroom, 6 bathroom new build duplex on a 21 x 150 foot lot (with no parking?) at 60 Melbourne Avenue in Parkdale.

It was 1 of 2 new builds on a lot that used to look like this...

Apparently, according to the listing, it was 'Nationally Recognized' and 'Award Winning'.

But the price tag was kind of crazy.  It was listed at $3,388,000.

As the reader who sent it in said...BANANAS!

It didn't sell and the price dropped by April to $2,750,000.  And by that point, a reader pointed out that the thing at the front of the house looked like corrugate cardboard...

Or something like this...

It sold not long after for $2,500,000.

In February, I posted a fully renovated house at 51 Melbourne Avenue that sold in October for $1,738,000 and was put up for lease in February for $7,800/month.

In that post I said...

I'm thinking it's not going to be the only 'For Lease' of a recently sold property that we will be seeing in the near future.

And it's not.  

As a reader pointed out, this house that sold a month ago is now 'For Lease' at $6,000/month per unit.

I'm seeing a trend.

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