Price adjustment brings buyer in for North York condo

Written by Sydnia Yu | Published in The Globe And Mail
In the Press
February 15, 2024

30 Harrison Garden Blvd., No. 2102, Toronto

Asking price: $949,900 (October, 2023)

Previous asking price: $999,900 (September, 2023)

Selling price: $918,000 (November, 2023)

Previous selling price: $400,000 (April, 2013); $380,000 (September, 2009); $321,000 (April, 2005); $282,341 (November, 2002)

Taxes: $2,787 (2022)

Property days on market: 75

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

The action

This two-bedroom corner suite in a building off Yonge Street and Highway 401 had a tough time getting one or two visitors a week last fall. Though its owner was on no deadline to move, the price was reset at $50,000 less in hopes of boosting attendance numbers. Finally, one bid came in and the seller decided to accept the offer, $81,900 below the original asking price.

“We weren’t in competition with anyone else, so that was nice,” said agent Christopher Bibby. “But it felt like a lot of buyers were still trying to figure out if it was the right time to buy. We were at the mercy of market conditions.

“It was just finding that balance where we’re showing prospective buyers we’re serious with a competitive list price. But if things did get worse, we had a backup plan not to continue dropping the price, but to rent the unit out.”

What they got

This 21-year-old unit has 1,225 square feet of living space, with windows in every room and a south-facing balcony off the main entertaining space.

Notable upgrades include hardwood flooring and two remodeled bathrooms.

A storage locker and parking are included. Monthly fees of $1,040 cover water, concierge and use of recreational amenities.

The agent’s take

“This, being 1,225 square feet, was one of the larger units in the building, and it had a completely unobstructed south view all the way down to the city,” said Mr. Bibby.

“The clients had done some renovations in the unit that added value.”

The enclosed kitchen is also back in style. “Open concept was great for the longest time, but people want better-defined rooms,” Mr. Bibby said.

“The kitchen has two windows, so it did let in natural light, and it has the capacity to be an eat-in kitchen as well with a little breakfast table.”

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