In case you weren’t convinced that the price of homes in Toronto is skyrocketing, then look no further than this Toronto house that just sold for a jaw-dropping $620,000 over asking.
The house, located at 17 Linnsmore Crescent in the Danforth neighbourhood, was listed on March 9 for $1,599,000. It sold just two days later for a whopping $2,219,000.
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It’s a five-bedroom, three-bathroom home that spans roughly 2,000 to 2,500 sq ft and sits on a corner lot.
The home itself is open, spacious, and bright, with tons of windows letting light stream in. It also has a balcony, large bedrooms, and a finished basement apartment, all of which would certainly make it attractive to potential buyers.
Not only was the price shocking because of how high over the asking price it was, Zoocasa agent Anthony Tomasone says that the house set a record this year for century home sales in Toronto.
“It’s the only century home to sell for over $2 million this year,” Tomasone told Daily Hive.
The reason for the higher than expected sale price, Tomasone says, comes down to a few important factors that extend beyond the overall high demand that the real estate market is currently experiencing.
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The average price of homes in the GTA recently surpassed $1 million for the first time ever and is expected to keep going up. And with homes like this continuing to sell well over the asking price, we can only imagine just how high it will get.