Designer’s Victorian home fetches offer $377,000 above list price

Written by Sydnia Yu | Published in Globe And Mail
In the Press
August 26, 2022

40 Gwynne Ave., Toronto

Asking price: $1,198,000 (June, 2022)

Selling price: $1,575,000 (June, 2022)

Previous selling price: $732,000 (June, 2012); $325,000 (May, 2004); $232,500 (May, 2003)

Taxes: $4,468 (2022)

Days on the market: Six

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

The action

This row home has the benefit of a convenient location near Queen Street and a stylish aesthetic curated by its owner and designer. Not to rest on those laurels alone to entice buyers, it was also staged, showcased on various online platforms and hosted two open houses.

“It was one of the first public open houses I’ve had, so we had a lot of pedestrian traffic,” said agent Christopher Bibby, who ditched the traditional practice during the pandemic. “From photos and videos to how the home showed and presented, we did everything we possibly could to make the outcome favourable for us.”

When two offers materialized before the offer date, the sellers were also wise to accept a proposal that added $377,000 to the $1.198-million list price.

“When the pre-emptive offers came in … my suggestion was to quickly work with them and not take any chances,” Mr. Bibby said. “Gwynne is a sought-after street and there hadn’t been much turnover when we looked at the last six months, so there was no data to tell us prices had come down.”

What they got

This two-storey structure is more than 100 years old, but the interiors were recently modernized.

Pot lights illuminate entertaining areas on the main and lower levels, and oak hardwood floors appear in three bedrooms and the custom kitchen. The latter also has an exit to a deck, patio and parking at the back of the 16- by 78-foot grounds.

The agent’s take

“Parkdale has a lot larger mansions, but the majority of those are set up with multi units or as rooming houses, so this is a charming Victorian townhome,” Mr. Bibby said.

“A lot of work had been done to the home … like a brand-new kitchen, appliances and flooring.”

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