An 1895-built Victorian home in the east end of Toronto recently garnered the attention of 12 hopeful — and very motivated — homebuyers, leading to a sale that was $628,000 over the asking price.
The home, located at 190 First Avenue in Toronto’s South Riverdale neighbourhood, hit the market on August 11 with an asking price of $1,699,000. Just six days later, it sold for a whopping $2,327,021.
Listing agent Fatima Bregman said that the eventual selling price was a welcomed surprise.
“I would say we were expecting it to go over asking, but we were pleasantly surprised at how many competitive bids we had that were so significantly over asking,” Bregman told Daily Hive.
The four-bedroom, three-bathroom home last sold in 2003 for just $450,000, meaning in 18 years, the home’s value increased by nearly $2,000,000. It wasn’t without effort, though.
“I think the current home owners had painstakingly maintained the beautiful Victorian elements of the home,” Bregman said. “They’ve also put time, effort, and money into this home, so it’s not in the original state that they bought it in 2003.”
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The house certainly has a number of features that would make it popular among would-be buyers, including its four large bedrooms, two parking spaces, and sizeable backyard. The style of the home, Bregman notes, is also a big draw.
“Typically, Victorian homes always garner a lot more attention,” she said. “Victorian homes lend themselves quite well with modern decor, so it has a perfect combination of these beautiful traditional elements from 1895 with a modern aesthetic, so it was quite breathtaking.”
And it appears this home is a bit of a trend setter for the neighbourhood, as Bregman just wrapped up the sale of another home on First Avenue that received a bully offer of $524,000 over asking.