After 26 offers, Toronto semi-detached sells $669,000 over asking

Toronto real estate is still very much a seller’s market, with one recently listed semi-detached home pulling in a staggering 26 offers and selling for $669,000 over asking.

The house, located at 144 Woburn Avenue in the Lawrence Park neighbourhood, hit the market with an asking price of $1,849,000. In just one week, the Toronto semi-detached sold for $2,518,000.

RE/MAX Hallmark Batori Group Inc.

Listing agent David Batori said that although the home was purposely priced at about $150,000 to $200,000 under, he was not expecting it to go as high over asking as it did.

“No way,” Batori told Daily Hive. “I’ve been doing this for 32 years and, based on historical data, it was probably worth $2-$2.1 [million].”

RE/MAX Hallmark Batori Group Inc.

RE/MAX Hallmark Batori Group Inc.

Limited inventory, especially for larger homes, has been an issue across Toronto for nearly two years now, fuelling competition and pushing up prices. Batori said this is just one of the reasons the home would have garnered so much attention.

“Number one, there’s nothing for sale anywhere,” Batori said. “Number two is it checked a lot of boxes for a lot of people: private driveway, built-in garage, four bathrooms. It’s across the street from a parkette which has a splash pad and a gated playground. It’s really a great community zone a block and a half of Yonge Street, two blocks from the Yonge and Lawrence subway line.”

RE/MAX Hallmark Batori Group Inc.

RE/MAX Hallmark Batori Group Inc.

The house also features a large eat-in kitchen, a gas fireplace, high ceilings, three upstairs bedrooms, and a finished basement with a fourth bedroom and rec room. And out in the backyard, there’s a multi-level wooden deck and a sizable lawn.

RE/MAX Hallmark Batori Group Inc.

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RE/MAX Hallmark Batori Group Inc.

The home last sold in 2006 for $835,000, meaning in 16 years, its value has increased more than 200%.