Toronto house sells in just one day after a buyer offers $560K over asking

Dec 14 2021, 9:34 pm

The Toronto real estate market is nothing short of hectic these days, and it’s not just other offer night bidders submitting well over asking that you have to watch out for.

Anyone hoping to buy the three-bedroom house at 194 Scarborough Road would have learned that the hard way. The Beaches home came on the market on December 6 with an asking price of $1,299,900. It sold later that same day for a whopping $1,860,000 — $560,100 over asking.

toronto offer over asking

Wright Sisters Group

The offer, according to listing agent Melanie Wright of the Wright Sisters Group, was a bully offer that came in not long after the listing went up.

“There was an offer date set but the bully offer was enticing enough to take on day one,” Wright told Daily Hive. “Our expectations were high based on low inventory, and a sense of buyer urgency with interest rates being low. Although we can never anticipate the exact price, we were optimistic about the outcome given the presentation, staging and design advice. The sellers followed our lead on some key upgrades to impact the value in the most positive way.”

toronto offer over asking

Wright Sisters Group

Wright Sisters Group

The two-storey detached home certainly has a number of features that would make it attractive to buyers. It has an open floor plan with high ceilings, spacious bedrooms, a finished basement, and even a wood-burning fireplace.

“This home checked the boxes,” Wright said.

Wright Sisters Group

toronto offer over asking

Wright Sisters Group

Perhaps what would be the most enticing feature, however, is the outdoor space. The house sits on a 121-foot-long lot, allowing for a spacious backyard. There’s a large walkout deck with enough room for both a barbecue and dining area, a grassy lawn, and even a pond. With outdoor space being in high demand across the city, a yard like this would easily attract buyers.

Wright Sisters Group

Wright Sisters Group

Whether or not you’d want to offer this much over asking for a home in Toronto, one thing’s for sure: it’s still very much a seller’s market.

Laura HanrahanLaura Hanrahan

+ Real Estate
+ Toronto Homes
+ Urbanized
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