Toronto real estate prices have spiraled so out of control in the past year that what had previously been astronomical prices no longer caused a stir. But even in Toronto, when a house sells for a whopping $521,000 more than demanded in just three days, that’s what makes you sit up and take notice.
The home in question, located at 119 The Westway Road in Etobicoke, went on the market on December 27 with an asking price of $999,000. It sold three days later for $1,520,000.
It is a three bedroom, three bathroom home with a large eat-in kitchen, expansive finished basement, large fireplace and spacious bedrooms. It also has a conservatory and a nicely manicured backyard.
With larger homes and outdoor space high on the wish lists of Toronto home buyers, it’s no surprise that this home sparked some interest.
Interestingly, though, the house was on the market a whopping nine times before it was sold, with asking prices ranging from its most recent low of $999,000 to a high of $1,788,000.
The sellers bought the property back in 2020 for $960,000 and carried out extensive renovations, completely redoing the floors, walls, kitchen, and even the exterior of the house.
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While some buyers won’t make an offer as high as asking, this home just goes to show that the list price isn’t necessarily an accurate reflection of what the seller wants to get.