Sale of the Week: The $1.45-million Parkdale Victorian that shows what a difference a few months can make

Address: 50 Gwynne Avenue
Neighbourhood: Parkdale
Agents: Kathy Essery and Pavlena Brown, Sage Real Estate Ltd., Brokerage
Previously sold for: $812,500, in 2012
 
 
 

The property

A renovated Victorian that proves timing is everything.

The history

The sellers shopped for a year before purchasing this 120-year-old home. The husband owns a construction business, so they finished the basement themselves. Now that their kids are growing, they’re looking to move to a neighbourhood they feel is more family-oriented.

The living area occupies a bit of space by the entryway:

There’s room for a dining table:

And here’s the kitchen, with a door to the sunroom at the back of the house:

The sunroom has some built-in bench seating:

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

And here’s the master bedroom, which has a door to its own balcony (plus some stained glass):

The two second-floor bedrooms share this bathroom:

There’s a family room on the third floor:

And also another bedroom:

The finished basement has a bit of whitewashed brick:

And there’s a fourth bedroom down here:

Artificial turf never needs mowing:

The fate

The buyers are a family who are upsizing from a condo. Days after they made the buy, their second child was born.

The sale

The property was originally listed in June at $1,565,000, but then home prices began to fall. There were many showings but no bites, so the agents pulled the listing, waited out the summer, and relisted at $1,449,000 in September. The lower price, plus a heavy marketing push on social media, drew two offers. The sellers accepted the higher of the two, at their asking price.

By the numbers

• $1,449,000
• $5,264.78 in taxes (2016)
• 1,937 square feet
• 711-square-foot lower level
• 13 days on MLS
• 4 bedrooms
• 3 bathrooms

The Hunt

City

Winners and Losers: Toronto’s new deal

Olivia Chow and Doug Ford’s new collab—which will throw billions of provincial dollars at Toronto’s financial woes—has been cause for both celebration and despair