Sale of the Week: the Roncey rowhouse that sold for $150,000 over asking
THE PROPERTY: Located midway between Sorauren Avenue and High Park, this three-bedroom features a new kitchen, renovated bathroom, partly finished basement and an addition on back. Possibly the best selling point, however, is the rowhouse’s proximity to Roncesvalles’s farmer’s markets, coffee shops and Polish delis.
THE HISTORY: A family with three kids and a dog last called this place home, but the hundreds of people that showed up on the porch every morning will likely remember it as the headquarters of Owl & Goose, the neighbouhood’s locavore smoothie hotspot. The company’s mompreneur and founder is also the selling agent’s sister. We’d say he’s earned some kale juice in his stocking.
THE FATE: The new owners are a young family with a two-year old. They can look forward to sending their child to Fern Avenue Junior and Senior Public School a few doors down, as well as giving that incomplete basement and rear addition personal touches, increasing the property’s value even further.
THE SALE: When the agent priced 162 Fern Avenue at $650,000, the goal was to close at $730,000—the recent sale price of a larger, fully renovated home across the street. The sellers were shocked when the rowhouse blew that number away. Full disclosure for all the renovations (including having receipts for the work) played a huge part in giving the buyers confidence. It helped, too, that this was one of the only homes for sale in the area. Roncesvalles is evolving into one of the most valued areas in Toronto in spite of—or rather, thanks to—the once-maligned streetcar project along its namesake avenue, which is now complete.
BY THE NUMBERS:
• 123 per cent of asking price
• 105 showings
• 84 hip restaurants within 15 minutes’ walking distance
• 19 registered offers
• 9 days on market
• 3 bedrooms
• 2-car parking
• 1 renovated bathroom