5 EDGECROFT RD., TORONTO
ASKING PRICE $799,800
SELLING PRICE $925,888
TAXES $3,612 (2016)
DAYS ON THE MARKET Nine
LISTING AGENT Jody Thompson, Re/Max Professionals Inc.
The Action: This detached home on a 41-by-133-foot lot near the Etobicoke School of the Arts had timing going for it; with more shoppers than sellers on the market this summer, it had more than 100 visitors between showings and public open houses. The commotion culminated with a 10-way bidding war that pushed the final price $126,088 over asking.
What They Got: In 2006, this 1950s bungalow was expanded with a family room addition, complete with vaulted ceilings and a pair of French doors to the south-facing deck, fenced yard, private driveway and carport.
Original areas of the now 1,085-square-foot space include living and dining rooms with hardwood floors, as well as a kitchen with granite and ceramic appointments.
Hidden away are two full bathrooms and an office that doubles as a second bedroom on the main floor, plus a guest room off the lower-level recreation area.
The Agent's Take: "The area is in walking distance to some of the best schools in Etobicoke, including the Etobicoke School of the Arts, Holy Angels Catholic School and Norseman Junior Middle School," agent Jody Thompson says.
"The area is also very convenient with easy transportation to the downtown area via the subway or GO train."
Aquiring a detached house under $1-million also appealed to builders and families for different reasons.
"In the last five years, this area has become very attractive with builders wanting to put a second storey on the bungalows or tear them down and replace with larger new builds," Mr. Thompson notes.
"The homes are also very attractive for young professional families with young children wanting to get into neighbourhoods with top schools."