Aspiring Toronto home buyers are starved for just about any type of property, so when a newly-built house with several bedrooms comes on the market, it’s not too surprising that it goes over asking.

Larger properties are in high demand right now, and one home in Scarborough recently sold shockingly above asking. Located at 171 Scarborough Street, the seven-bedroom, five-bathroom Toronto home hit the market with an asking price of $3,999,999 and sold one week later for $4,813,000 — $813,001 over asking.

Royal LePage Estate Realty

Royal LePage Estate Realty

The house was an entirely new build the replaced a dated four-bedroom, three-bathroom home on the property. The sellers picked up the old house in 2019 for $1,750,000 — roughly $3 million less than they ended up selling the new build for.

Royal LePage Estate Realty

Royal LePage Estate Realty

The teardown and rebuild not only added more bedrooms and bathrooms but gave the property a new modern look and open concept floor plan. As the listing says, “the design is on point.”

Royal LePage Estate Realty

There’s a large kitchen with an eat-in island, a formal dining room, an open living room and a sunroom. The five bedrooms upstairs are bright and airy, and down in the finished basement, where the other two bedrooms are, there’s a home gym, another living room, and a large wine cellar.

Royal LePage Estate Realty

Royal LePage Estate Realty

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Royal LePage Estate Realty

Outside, there’s a sizable backyard with a large grassy area and a cozy back deck that would no doubt get plenty of use in the warmer seasons.

Royal LePage Estate Realty

Royal LePage Estate Realty

The price of the house might be more than most people would want to pay, but there’s no arguing that it’s a beautiful home.