Sold: an East York home designed around a skylit atrium goes for $750,000
With all the talk of condo bubbles, over-the-top bidding wars and failed flips, wading into Toronto’s housing market requires equal parts bravery and real estate savvy. To help with the latter, we decided to dish when the properties we profile in our House of the Week, Condo of the Week and Cottage of the Week features are sold. Here, all the details from the latest sale.
• The place: A contemporary two-bedroom house in the Woodbine-Lumsden area of East York, which is becoming increasingly popular with young couples.
• The agent: Jonathan Ferrier, Royal Lepage Real Estate Services Ltd., Brokerage
• Listed price: $749,900
• Sale price: $749,900 (full price)
• Time on the market: 36 days
• The buyers: The home’s modern look and open floor plan struck a chord with several condo-dwellers looking to make the leap to a detached house. However, it still hadn’t sold after a couple of weeks on the market, so the realtors cut the price by $25,000. In the end, there were three serious contenders. Anticipating a possible bidding war, the now-owner—a young professional moving from downtown— went in with an enticingly high offer. The strategy worked: they got the house before anyone else could submit a competing bid.
• The full description: House of the Week: $750,000 for a modern home designed around a shaft of light [October 9, 2013][gallery]
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