Three bids on Leslieville semi help sellers move on to larger home

Written by Sydnia Yu | Published in The Globe And Mail
In the Press
January 10, 2024

18 Marjory Ave., Toronto

Asking price: $899,900 (November, 2023)

Selling price: $1.01-million (November, 2023)

Previous selling prices: $815,000 (October, 2016); $362,500 (July, 2010); $201,000 (September, 2002)

Taxes: $4,564 (2023)

Days on the market: Seven

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

The action

The owners of this semi-detached house near the Matty Eckler Community Recreation Centre hoped to sell it and use the proceeds to buy a bigger property. Their strategy was to price the house at an eye-catching $899,900 and give it a week to attract multiple offers.

“[The sellers] haven’t bought anything because, if this went sideways or things weren’t to our liking, [we could] pull the listing, increase the price or wait until the market settles,” said agent Christopher Bibby.

“We were getting about four to five showings a day, which was a decent number given the time of year and current [market] landscape.

“And one thing that was surprising was at the open house … between the two days, we had about 70 people come through. So it was busy inside.”

The sellers received three offers and were able to nudge one bidder up over the $1-million mark.

“Nobody came in with their best and final offer,” said Mr. Bibby. “Two of the three parties resubmitted bids the following day, so it was a bit drawn out. But it’s best not to tell people they have five minutes to make a decision or they’re out.”

What they got

This 114-year-old house has two bedrooms, two bathrooms, a living room and a remodelled eat-in kitchen with sliding doors to a rear deck.

The recreation area has an exit to the patio, hot tub and shed on the 19- by 103-foot lot.

The agent’s take

“The basement had a hydronic radiant heat source, and it was a walkout basement,” Mr. Bibby said. “That was one of the strongest features of the home.”

“Another thing that worked well for people is the second bedroom was large enough to fit a queen-size bed, so it wasn’t just a den or nursery space.”

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