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3BR in Little Portugal Won't Sell, Asking $729,800

[Photo via Royal LePage]

This three-bedrooms house in Little Portugal has been sitting on the real estate market for over a month with little interest from prospective buyers at $729,800. The homeowners are worried they'll be stuck owning two houses; their former renovated property on Dundas West and their newly purchased dream home in Etobicoke. The owners and real estate agent are perplexed why the house isn't selling with bidding wars in the area and a neighbouring house that sold last year for $809,000. From the photos, the two-storey house appears clean and well-maintained with two bathrooms, an updated kitchen and two-car parking. The annual property taxes are $2,660 for the 16 x 112 foot property.

Toronto Star readers were not impressed with the property saying, "WTF? $729,000 for that little shack? It's literally touching the neighbour. This housing bubble will burst sooner than later. But here's the reason why it's that high. When the supply is low the demand is higher so the prices go way up, doesn't matter the size, especially downtown where condos are only going up. This is absurdly crazy!" Is this house worth the asking? Check out the photos and decide.

· On the Market Archives [Curbed Toronto]
· Curbed's Monday Mansions [Curbed Toronto]
· The houses that don't sell [Toronto Star]