Toronto house sold in one day for $720,000 over asking (PHOTOS)

Toronto real estate is nothing if not frenzied, and a North York house that just sold in one day for $720,000 over asking is the perfect example of that.

Located at 7 Gerald Street in the St. Andrew-Windfields neighbourhood, the four-bedroom, four-bathroom house hit the market with an asking price of $3,890,000. The very next day, the Toronto house sold for a whopping $4,610,000.

Homelife New World Realty Inc.

Homelife New World Realty Inc.

For that price, the new owners got themselves a fairly impressive home that, according to the listing, spans around 3,000 square feet and sits on a rather large 75×200-foot lot.

Although the interior of the house appears to be a bit dated, it does come with some sought-after features, including multiple fireplaces, plenty of windows, and a renovated basement. The bedrooms also appear to be spacious, which, when it comes to Toronto living, is a real luxury.

Homelife New World Realty Inc.

Homelife New World Realty Inc.

Homelife New World Realty Inc.

Outside, there’s a large circular driveway, which means an abundance of parking spaces, in addition to the two spaces in the garage. And at the back of the house, there’s a patio and an in-ground pool, all surrounded by tall cedar hedges, so it really looks like a private escape in the city.

Homelife New World Realty Inc.

Homelife New World Realty Inc.

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The house was last sold in 2016 for $3,700,000, which means the buyers gained nearly $1 million on the investment. The property doesn’t appear to have undergone any updates since that purchase. In fact, many of what appear to be the same listing photos were used in the 2016 and 2022 sales.