A recently listed Toronto house just sold for a staggering $703,000 over its asking price.
Originally listed for $1,800,000, the house, located at 39 Ferrier Avenue in the Riverdale neighbourhood of Toronto, sold just two days later for a whopping $2,503,000.
The house is a three bedroom, three bathroom abode with approximately 2,500-3,000 sq ft of space. It has an open concept living and dining area with a large kitchen that features a sizeable island and breakfast bar.
Downstairs, the house has a finished basement with nine-foot ceilings and a fireplace. It also has a landscaped backyard with a walk out deck that can be accessed from the main floor living room.
As to be expected, Zoocasa agent Jelani Smith says that the property was listed below market value to entice buyers. Offers were also “held back,” meaning they were only accepted during a given date and time.
“Holding back offers typically leads to multiple buyers submitting an offer on the subject property,” Smith told Daily Hive. “In most cases, the property ends up selling for around the market value.”
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The area that the home is located in is also highly desirable. It’s in the sought-after Jackman School District and is just steps from restaurants and shops along Danforth Avenue.
“At the end of the day, real estate prices are driven by supply and demand,” Smith said. “Thirty-nine Ferrier is a custom built detached home close to the Bloor-Danforth subway line — a hot ticket item in the current market.”
And with this being a detached home, Smith says, it will have a stronger appreciation for the buyer than a semi-detached or condo townhome would.
The buyer, whoever they are, has certainly got themselves a nice home, even if they did have to pay a pretty penny for it.