East Side Story

Back in the ’80s, six figures could get you into either a condo on the West Side ($142,000) or a house to the east ($135,000). That parity stayed fairly constant, with the gap swinging one way (West Side condos ahead an average of $30,000 in 1990), then the other (behind by $50,000 five years later). That’s until a few years ago, when we began to wonder if this attention to geography was a red herring. Savvy realtors now prioritize a building’s structure, its history and pedigree, the lay of the land and neighbourhood amenities as much as they count blocks to Granville. As a result, houses on the East Side have never been more highly valued, with the average price now $836,045, compared to West Side condos stuck at $730,000 in June. Will the west ever catch up again?