April showers drag out time on market for condo with terrace and lake views.

The action

This two-bedroom suite was professionally furnished to enhance all its assets, including a south-facing balcony and an east-facing terrace. In the best-case scenario, buyers saw value in paying a premium for more outdoor space than average along Yonge Street, between Eglinton and Davisville Avenues.

“It has a fully unobstructed, 665-square-foot terrace on the east side of the building . . . and overlooked single-family homes, so it was definitely a one-of-a-kind opportunity,” said agent Christopher Bibby.

“We went out at $985,000, which was 6 or 7 per cent higher [than market value], but with market conditions, we knew someone would try to negotiate.”

Poor spring weather dragged out the time it took to get more than 20 potential buyers and convince one to tender a conditional offer.

“It was hard with people coming by and you want them to go on the terrace, but it’s pouring rain,” Mr. Bibby said.

“Given everything going on, the majority of our clients don’t feel things will sell in a matter of weeks. Everyone’s taking a very patient approach.”

What they got

This corner unit was completed about five years ago, on the former site of the Art Shoppe furniture showroom. It offers floor-to-ceiling windows throughout and outdoor spaces accessible from the living room and both bedrooms.

A renovated kitchen, two full bathrooms and laundry facilities round out the unit.

A locker and parking spot are downstairs. Monthly fees of $764 include use of recreational amenities, like the pool.

The agent’s take

“If you look southeast, you can see all the way down to Lake Ontario,” Mr. Bibby said.

“The owner did quite a few upgrades outside of the builder finishes, like the countertops were redone in the kitchen, there’s undermount lighting, and the island was upgraded.”