PRICE DROP #2 - 87 Gloucester Street - CHURCH AND WELLESLEY

Two weeks ago, I posted this 3 bedroom, 4 bathroom semi on a 25.04 x 102.12 foot lot at 87 Gloucester Street in the Church and Wellesley neighbourhood in Toronto.

It was a house that was last listed in 2015 when the asking price was $1,395,000 and it sold for $1,280,000 in 2016.

With basically no visible changes, it was back on the market in August for $3,495,000.

I mentioned that was an almost 30% compounded annual increase. BUT I was calculating that based on the house selling in 2015. Instead, it sold in November 2016 make this an almost 40% compounded annual interest increase!!!!!!

WTAF!

Anyway….

It didn’t sell and the price was dropped in September to $3,295,000. Or about a 37% annual increase (I previously reported it as 27.5%).

A few days ago, it had another drop. The asking price for this house is now…

$2,950,000.

Or a 32% compounded increase.

Seriously…