The Toronto real estate market may not be quite as frantic as it was a few months ago, but it has by no means cooled off, and this sold-over-asking house is a prime example of that.
The house, located at 31 Chieftain Crescent in the St. Andrew-Windfields neighbourhood, hit the market earlier this month with an asking price of $4,288,000. It sold nine days later for $4,980,000 — $692,000 over asking.
It’s not entirely hard to see why the Toronto home fetched a price so high over asking. It’s sat on a large 105′ x 190′ lot and has four bedrooms (plus two additional basement bedrooms) and a whopping seven bathrooms.
The inside of the home has some old-school charm, thanks to the circular staircase and wood finishings, but it has all of the modern amenities you could need. There are also multiple living areas, one of which walks out to the backyard that has an in-ground pool.
Upstairs, not only are the bedrooms large, but there are multiple walk-in closets that are so big they have islands in them.
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And down in the basement is a large rec room, fireplace, and wet bar.
The house had been on and off the market for several years at price points ranging from a low of $3,099,000 to a high of $4,498,000.
The seller bought it back in 2006 for just $1,360,000, so they more than tripled the sale price in 15 years. It’s true what they say, real estate really can be the best investment — if you’re able to afford it, that is.