Pent up demand pumps up price of west end house

Written by Sydnia Yu | Published in The Globe and Mail
208 Emerson Avenue
In the Press
January 22, 2021

PUBLISHED FRIDAY,  JANUARY 15. 2021

208 Emerson Ave., Toronto

Asking price: $1,125,000 (October, 2020)

Selling price: $1,312,517 (October, 2020)

Previous selling price: $623,500 (2015)

Taxes: $4,096 (2020)

Days on the market: Four

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

The action

There were only six properties sold around the former Galleria Mall – now being redeveloped – in the six months since the beginning of the pandemic in March. The pent-up demand contributed to heavy interest in this semi-detached house. Over two dozen buyers requested in-person tours. A few pre-emptive offers were declined by the sellers, but on day four they accepted an offer $187,517 over the asking price.

The 1912 house was recently renovated with new roof and mechanics.

JORDAN PRUSSKY PHOTOGRAPHY/JORDAN PRUSSKY PHOTOGRAPHY

“There was constant pressure for us to sell,” agent Christopher Bibby said.

“There are people leaving the city, but there’s also a growing population, especially from condo land, looking for turnkey properties because doing renovations now with the pandemic is not desirable.”

What they got

This three-bedroom house was built around 1912, but numerous renovations have replaced or redesigned almost everything, including the roof and mechanics.

The kitchen was customized with a granite-topped island.

JORDAN PRUSSKY PHOTOGRAPHY/JORDAN PRUSSKY PHOTOGRAPHY

Interior brick walls have been exposed along the staircase and in several bedrooms, and a wood-burning fireplace was framed with a sleek mantle and shelving in the living room.

The kitchen was customized with a granite-topped island, wall to wall windows and a glass door to the backyard. There is a stone patio and a new double garage on the rear lane.

The basement is partially finished.

The agent’s take

The living room has a wood-burning fireplace framed with a sleek mantle and shelving.

JORDAN PRUSSKY PHOTOGRAPHY/JORDAN PRUSSKY PHOTOGRAPHY

“It was like buying a brand-new house,” Mr. Bibby said. “It had character and charm.”

“The garage has full power, so it was a great extra structure with doors that opened up … so it was fully integrated into the backyard.”

The 18-foot-by-120-foot property is also steps from new and future amenities. “There’s a laneway across the street that takes you to the Galleria redevelopment,” Mr. Bibby said.

The garage was fully integrated into the backyard.

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