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They Paid What??: This $561,000 Toronto home needs a lot of work

Toronto ranks among Canada’s weakest housing markets, according to data from the Canadian Real Estate Association showing the seasonally adjusted residential sales-to-new listings ratio for the city is among the lowest in the country.

The listing for 84 Laurel Ave. in the city’s east end bucked the trend despite its rough condition.

Whoever signed on the dotted line committed to a major renovation or total tear-down.

The exterior is overgrown. The interior may have something growing as well. Photos show extensive damage to the ceilings and walls. Pretty much everything appears to be peeling, broken or run-down. But hey, it’s got a fireplace and a garage.

The house sold for $561,000, $63,000 over the $498,000 asking price.

Click through the slideshow to see more of the home and let us know if you think the price is fair.

(Images courtesy Zoocasa)

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