Toronto house sells in just one day after a buyer offers $560K over asking
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.
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.
View this post on Instagram
“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.”
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.
- You might also like:
- Toronto rent prices expected to shoot up another 11% in 2022
- Most expensive condo in Mississauga history just hit the market for $15M
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.
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.