This Toronto house just sold for $507K over asking

The real estate market is still on a hot streak, and after receiving multiple offers, this Toronto house just sold for a whopping $507,000 over asking.

Located at 801 Ossington Avenue in the Christie Pits neighbourhood, the four-bedroom, two-bathroom home hit the market earlier this month with an asking price of $998,000. It sold just three days later for $1,505,000.

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Listing agent Gus Skarlatakis of Crescent Real Estate says he was extremely happy with how well the home did.

“It was truly a fantastic result for the sellers,” Skarlatakis told Daily Hive. “We don’t always do this well on a sale, but everything came together quite nicely with the preparation, staging, marketing, and execution.”

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The sale price was also in-part thanks to renovations undertaken by the seller before it hit the market.

“Back in late spring, I evaluated the market value of the property to be in the $1.25 to $1.3M range, as is,” Skarlatakis said. “The sellers then undertook advised renovations to the property, costing around $40K, which took its market value into the $1.3 to $1.35m range.”

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For the $1.5 million price tag, the new owners are getting a 2.5-storey semi-detached home totalling 2,768 sq ft. Although it’s set up as a single-family home right now, according to the listing, it could easily be converted into a multi-family property.

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And being in the Christie Pitts neighbourhood, the home has close access to Bloor Street, the Ossington subway station, and, of course, Christie Pits Park.