Bids emerge after Junction townhouse price cut

Written by Sydnia Yu | Published in Globe and Mail
In the Press
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

Over $100,000 was spent on recent renovations.RE/MAX HALLMARK BIBBY GROUP REALTY

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

The interior is completely modern with open living and dining areas and a glass-lined stairwell.RE/MAX HALLMARK BIBBY GROUP REALTY

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

Part of the renovations included a brand new Downsview kitchen, replete with island, bar seating and high-end appliances.RE/MAX HALLMARK BIBBY GROUP REALTY

“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.”

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