Price adjustment finds buyer for North York townhouse

Re/Max Realtron Bill Thom Group Realty Inc.

78 Castlebury Crescent. No. 2, Toronto

Ask for a price: $618,800 (July 2021)

Sale price: $638,000 (August 2021)

Taxes: $2,560 (2021)

Days on the market: Five

Listing Agent: Bill Thom, Re/Max Realtron Bill Thom Group Realty Inc.

The action

This three-bedroom townhouse is part of a roughly 50-year-old complex where a similar unit was unsold at nearly $660,000 this summer. To avoid the same fate, this unit was priced considerably lower, at $618,800. Within days, a buyer submitted an offer for $638,000 ahead of the official offer date.

“In this block, there was a unit for sale in front of us, and the funny thing is, after selling for $638,000, they sold for $638,000,” said agent Bill Thom .

“So in a way we helped them.”

what they have

This two-story townhouse is in its original condition with a brick facade, a street-level entrance to a yard and a fenced back yard.

There is an L-shaped living and dining room behind the kitchen, a recreation area in the basement, and a bathroom on each level.

The townhouse comes with an outdoor parking space. A monthly fee of $486 covers the cost of water and cable.

Officer taking

“At $638,000, if you were to buy a condo [suite]you don’t have three bedrooms and you certainly don’t have a basement,” Mr. Thom said.

“So the price – even with the renovation costs factored in – you get more space and less maintenance costs.”

This unit also adjoins Cummer Park and Zion Heights Middle School. “It backs onto an open field, so no one is behind that unit,” Mr. Thom said.

“It also has easy access to all highways and good schools too.”

Your home is your most valuable asset. We have a week Real estate newsletter to help you stay up to date with housing market news, mortgages, the latest closings and more. Register today.

Eleanor C. William