Buyers drawn to Toronto home’s relatively low price tag

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2 Knoll Dr., Toronto

Asking price: $899,900

Selling price: $900,000

Previous selling prices: $572,000 (2008); $310,000 (1992)

Taxes: $4,614 (2018)

Days on the market: 16

Listing agent: Ed Allan, Royal LePage West Realty Group Ltd.

The action

Many multimillion-dollar properties are clustered around the Humber River, so buyers shopping with less than $1-million wound up at this side-split residence with an attached garage. It was listed for $899,000 mid-October.

“The longer the house is on the market, the harder it is to sell. And things are not like they were a year ago; it’s a bit unpredictable, you never know which way things will go,” agent Ed Allan said.

“[Fortunately], as soon as our [first] deal fell through, this offer came in at $900,000.”

What they got

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Across the street from the Humber River, this 54-year-old house on a 72-by-103-foot corner lot offers living space across three levels, including a lower-level recreation room with a wood-burning fireplace.

Off the main foyer is a living room and rear dining area, which is flanked by an updated eat-in kitchen and family room with walkouts to the south-facing backyard.

The upper floor is filled out with three bedrooms and one of two bathrooms.

The agent’s take

“The big selling feature was the location,” Mr. Allan said. “The park is right there with a tennis court, the Humber River, bike and jogging paths, so that certainly added to its value.”

The home’s compact size also meant a somewhat more affordable price, given the location. “It was the cheapest house in the area. Most go from $2- to $5-million,” Mr. Allan said. “[Some of them] may be 5,000 square feet. This house is about 1,600 to 1,700 square feet.”

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