Sale of the Week: the $852,000 Roncesvalles home that shows the sales power of a hot block

The History: The previous owners were a young couple, one a teacher and the other an IT worker, with three young children. They bought the house back in 2005. Despite the neighbourhood’s amenities (including great schools and restaurants on Roncesvalles Avenue), they decided to depart for a detached home with more space for their growing family. Between 2010 and 2013, they repainted 308 Garden, installed pot lights throughout and added a solarium off the living room to create more space, among other upgrades.

The Fate: This house is one of many in the area to have changed hands a few times recently. Older families who hung onto homes in the primarily Polish area are now selling off, and Roncesvalles is seeing young families of all nationalities moving in. The neighbourhood’s built form isn’t changing that much, though. New condo construction is limited mostly to Bloor Street.

The Sale: The semi was listed at $859,900, which is what similar homes were selling for on the block. That’s why it came as such a surprise when the initial reception from potential buyers was lukewarm. Once a handful of homes listed in the same price range down Garden Avenue sold for approximately $100,000 over asking, though, interest picked up. After 23 days on the market, 308 Garden closed for $852,500 after receiving a single bid.

By the Numbers:

• $852,500 • $4,295 in taxes (2013) • 99 per cent of list price • 23 days on the market • 20-foot-wide lot • 4+1 bedrooms • 2 bathrooms • 1-car parking pad • 1 offer