Sale of the Week: the $1-million Wychwood home that proves a small lot can sell overnight

The History: The sellers, a young family, picked up the property five years ago when it was tenanted and “heavily worn,” according to the selling agent. They upgraded the kitchen with new surfaces and luxury appliances, redid the facade and landscaped the yards. One thing they didn’t touch was the original hardwood flooring, which gives the renovated house some of its character.

The Fate: Another young couple scooped up the home. They didn’t object to the small lot size, thanks in part to the clever landscaping. Parking could be an issue, though: the lack of a garage or driveway means they’ll have to apply for street parking permits from the city.

The Sale: The sale was helped along by Toronto’s notoriously low inventory of detached homes. The sellers intended to review offers after a week, but decided to sneak a peek at the six bully offers they received after day one. The home sold in less than 24 hours.

By the Numbers:

• $1,041,000 • 1,650-square-foot lot • 1,234 square feet above grade • 565-square-foot basement • 123 per cent list price • 27.5-by-60-foot lot • 24 hours, approximately, on the market • 6 bully offers • 3 bedrooms • 2 bathrooms