Sold! Toronto townhouse sells for $1 million over asking

In a real estate market where it seems everything sells for over asking, it takes a big number to stand out from the crowd. I'd say that a million bucks meets that criteria. Listed at $1,995,000, this Georgian-style townhouse on Davenport Road recently sold for a cool $3 million.

I know, I know... the listing price is about as important as the starting bid on an Ebay auction these days, but $2 million doesn't seem to be a ridiculous number for a three bedroom townhouse with limited outdoor space.

A far more interesting property around the corner just hit the market at $1,855,00o, so it'll be interesting to see what it goes for in the coming days/weeks. If it goes for $3 million, then the sale price of this townhouse won't seem quite so outlandish.

The Essentials

• Address: 119 Davenport Rd.
• Hit the market at: $1,995,000
• Time on market: One week
• Sold for: $3 million

Why it sold for the price it did

Built in 2000, this is a relatively new house. While it doesn't have a ton of outdoor space, the interior is spacious and the finished basement adds considerably to the livable area. The bedrooms and bathrooms are noticeably large.

Was it worth it?

I'd say the jury is out on this one. Nearby semis have sold for less in the last 30 days, and no matter how little bearing some would argue the asking price has, $1 million above what it was listed at is at least a bit bonkers.

by Derek Flack via blogTO