Sale of the Week: The $1.5-million home that shows just how much prices have escalated since 2000

Address: 87 Evans Avenue
Neighbourhood: Bloor West Village Agent: Michael Inwood, Sutton Group Realty Systems, Brokerage Previously sold for: $349,900, in 2000      

The property

A detached three-bedroom home with laneway parking.

The history

The house was built in 1923, and the sellers bought it in 2000. In the past seven years they’ve added a new kitchen, finished the basement, updated the bathrooms, and installed new appliances. Now, they’re cashing in and moving out of the city.

Here’s the view from the foyer:

The living room:

The house has a formal dining room:

And a light-filled family room:

And here’s the kitchen:

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

This bedroom is currently occupied only by an Ikea Malm™ dresser:

And here’s the master bedroom:

All three bedrooms share this bathroom:

The basement is finished:

And there is a patio:

And a big backyard, with laneway access:

The fate

The buyers appreciated the fact that the house was move-in ready and close to choice schools like Runnymede Public and Humberside Collegiate. They take possession at the end of next month.

The sale

The house was priced similarly to other detached homes that sold in the area last year, but the rise in prices citywide over the past 12 months helped push bids way over list price. In total, there were seven offers after 70 showings. The offers were all strong, but the sellers accepted the highest, at more than $360,000 over asking. They were pleased that the buyers were a family, not investors.

By the numbers

• $1,510,000 • $5,388.00 in taxes (2016) • 1,422 square feet • 625-square-foot lower level • 7 days on MLS • 3 bedrooms • 2 bathrooms