Last week, I posted this 3 bedroom, 3 bathroom semi on a 15.92 x 64 foot lot at 17 Wellesley Avenue in Cabbagetown in Toronto.

It was a renovated house that showed really well especially if you liked black.

Thing is, it was across the street from a semi that sold a year and a bit ago that also had a full renovation. The basement wasn’t really done and there was only 2 bathrooms instead of 3. But it was a wider and deeper west facing lot.

It was listed last in May 2021 for $1,799,000 and sold for $2,100,000. At a 6% increase, that would make it worth about $2,275,000 today.

This house that is smaller was listed at $2,695,000.

As of today, the price is now…

$2,495,000.

In this market, is that enough of a drop?