Sale of the Week: The $2.1-million Dufferin Grove home that shows how bidding wars are created

Address: 131 Concord Avenue
Neighbourhood: Dufferin Grove Agent: Matt Manuel and Paul Johnston, Right at Home Realty Inc., Brokerage Previously sold for: $396,000, in 2003      

The property

A four-bedroom home that went for more than $800,000 over asking.

The history

The sellers have lived in the home for 16 years. The latest renovations date from 2010, when they extended the main floor, remodelled the kitchen and finished the basement. They also added built-in speakers and sliding doors. Now, as their children get older, they’re moving to an even bigger house elsewhere in the city.

Here’s the living room:

The dining area:

And the kitchen:

The family room is at the back of the house:

There are two bedrooms on the second floor. Here’s one of them:

And the master bedroom, with its own fireplace:

The main bathroom:

There are also two bedrooms on the third floor. This one:

And this one:

The basement is finished:

And here’s the backyard. The garage has a green roof:

The fate

The buyers are from Toronto. They loved this place’s proximity to Dewson Street Junior Public School. That, plus the generous floor plan, convinced them that 131 Concord would be the perfect long-term family home.

The sale

The agents priced the house well below market value, hoping to get as many eyes on it as possible. To accommodate showings, the sellers and their children went on vacation for a week and came back on offer day. The listing agents told bidders that there would be only one round of offers, which incentivized all of them to bid as high as they possibly could, right off the bat. In the end, 17 offers came in. The winning bid was $815,131 over the asking price.

By the numbers

• $2,100,131 • $5,409.00 in taxes (2016) • 2,800 square feet • 6 days on MLS • 4 bedrooms • 3 bathrooms