Sale of the Week: the $901,000 Blake-Jones semi that proves buyers will pay for community

Sale of the Week: the $901,000 Blake-Jones semi that proves buyers will pay for community

Sale of the Week: 89 Ravina Crescent

Address: 89 Ravina Crescent
Neighbourhood: Blake-Jones
Agent: Brandon Buller, Coldwell Banker Burnhill Realty, Brokerage

The Property: A two-storey semi located in a tiny micro-neighbourhood of artists and young professionals affectionately known as “the Pocket.” An open-concept kitchen spans the back of the building, complete with a mosaic-tile backsplash and floor-to-ceiling cabinets. The master bedroom has a balcony of its own, with a view to the real draw: the community below. Despite its small size, the Pocket has a well-organized and active community association. It doubles as a sort of social club that coordinates everything from park-revitalization efforts to fireworks displays, like the upcoming Victoria Day festivities in Phin Avenue Parkette.

The History: The sellers of this century-old home lived there for about seven years before putting it on the market so they could relocate closer to family in Burlington. They completely renovated the property in 2007, opening up the main-floor dining room and kitchen, but keeping the original plaster wainscotting.

The Fate: Even before Toronto Life identified Blake-Jones as a great place to buy, homes in the Pocket had been inching toward the million-dollar mark. The buyers—a professional couple with young children—are part of this shift in the local demographic. They were especially fond of the local school districts, which include Jackman Avenue Junior Public School and its early French-immersion program. They may also come to appreciate the easy commute downtown and the two-car garage.

The Sale: The sellers set an under-average listing price, taking into account the pent-up demand for homes because of this year’s late spring. Two open houses attracted roughly 100 visitors. The sellers received 12 serious offers after seven days on the market. The agent believes that holding true to a specific offer day and turning down early bids helped push the selling price to $202,200 over asking. To the agent’s knowledge, 89 Ravina’s is one of the highest-value sales on the street.

By the Numbers:

• $901,000
• $3,896 in taxes (2013)
• 129 per cent of list price
• 12 offers
• 7 days on market
• 4+1 bedrooms
• 2 bathrooms
• 2-car garage
• 2 nearby TTC stations
• 1 basement nanny suite