Bids emerge after Junction townhouse price cut

PUBLISHED NOVEMBER 15, 2021

67 Vine Ave., Toronto

Asking price: $1,795,000 (late September, 2021)

Previous asking price: $1,895,000 (early September, 2021)

Selling price: $1,740,000 (October, 2021)

Previous selling price: $1,260,000 (February, 2018)

Taxes: $5,145 (2021)

Days on the market: Four

Listing agent: Christopher Bibby, Re/Max Hallmark Bibby Group Realty

The action

With more than $100,000 having been spent on recent renovations, agent Christopher Bibby felt confident pricing this three-bedroom townhouse at just under $1.9-million. About a dozen buyers stopped by for a closer look, but none made a formal offer to purchase. To grease the wheels, the asking price was trimmed by $100,000 and within days two bids were received, and a deal hammered out for $1.74-million.

“It’s a more unique, urban space and a townhome, so it would suit a very select group, like families who want a full backyard,” Mr. Bibby said. “But our targeted audience may have been travelling or up north.”

“Last summer, one sold for $1.425-million, so the fact we ended up where we did – $315,000 higher – is phenomenal.”

What they got

This unit is one of several three-storey townhouses built six years ago near Dundas and Keele Streets with street-level entrances, south-facing backyards and parking off a rear laneway.

The interior is completely modern with open living and dining areas and a glass-lined stairwell running from the finished basement to the upper bedrooms.

A brand new Downsview kitchen features an island with bar seating and high-end appliances, as well as sliding doors to a patio also revamped with a gas fire pit and custom carport.

A rooftop terrace offers a more intimate setting off the primary bedroom.

The agent’s take

“It’s more vertical, the aesthetic is modern, and the construction is new,” Mr. Bibby said.

“The carport, landscaping and kitchen alone were big-ticket items, well over $200,000 in work, so it was a beautiful space.”