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Cooler spring market doesn’t derail sale of East York bungalow

16 Glenshaw Cres., Toronto

16 Glenshaw Cres., East York

ASKING PRICE $1,088,000

SELLING PRICE $1,458,000

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PREVIOUS SELLING PRICE $215,000 (1987)

TAXES $3,791 (2016)

DAYS ON THE MARKET Six

LISTING AGENT Sohail Mansoor, Royal LePage Signature Realty

The Action: When assessing the value of this three-bedroom bungalow in April, agent Sohail Mansoor knew the record for a bungalow on the street was nearly $1-million and the area's best was $1,440,000. But he factored in the fact the market was cooling by billing it at $1.088-million, which four buyers viewed as a mere starting point.

"It's important to note that prices haven't really been impacted by the new [government] rules and shifting market, but homes aren't selling as quickly as they were a month ago. So it might take an extra week, which is still a very good market," Mr. Mansoor explains.

"[Plus] the enclave of Parkview Hills is a bit of an exclusive community where not many homes come up for sale, so when they do, they typically go quickly."

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What They Got: Since the 1950s, this brick bungalow with a private driveway has been well maintained on its 40-by-147-foot lot.

Finishes are classic from hardwood floors in the living and dining areas to ceramic laid in the kitchen and lower-level study and recreation room. The latter also features a gas fireplace.

The Agent's Take: "We had a feeling this would be a demand property based on the fact it was backing onto the ravine and if offers a 40-foot lot, which is a premium lot in the neighbourhood," Mr. Mansoor notes.

"[Comparable lot widths] range from 30 to 40 feet. If you're in other parts of East York, it's not uncommon to see 25-foot frontages."

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