As the number of home sales fall in Toronto, real estate prices have been a bit of a mixed bag. While you'll still find plenty of houses going for well over asking, the opposite is also increasingly true.
This home near Bayview and York Mills, for instance, just sold for $480K under its list price of almost $4.5 million. If there's an obvious culprit for the lower sale price, it's the interior design of the home, which is rather dated given what it was listed at.
Don't get me wrong. It's not terrible, but it does seem like the last reno was in the late 1990s. Now the buyer can take the money chopped off the list price and put it into significant updates to the interior. A bit of extra landscaping in the backyard wouldn't hurt either.
It'll be intriguing to see what this place looks like the next time it hits the market. I doubt this is a flip scenario, but whenever it's listed, it'll probably look a lot different than it does today.
The Essentials
- Address: 43 Rollscourt Dr.
- Type: Detached house
- Bedrooms: 5 + 2
- Bathrooms: 8
- Lot size: 77.83 x 160.04 feet
- Hit the market at: $4,480,000
- Time on market: 10 days
- Sold for: $4 million
Why it sold for what it did
Size, first and foremost. There are five spacious bedrooms here. Factor in the finished basement, and very few people would ever need more square footage than this. The St. Andrew's neighbourhood is also highly regarded.
Was it worth it?
Yes. No one will scoff at the sale price of $4 million on this property. When you have that kind of money, you're also able to fund major interior renovations.
by Derek Flack via blogTO
No comments:
Post a Comment