- 329 East 24th Ave.
- Asking price: $599,000
- Selling price: $670,000
- Previous selling price: $190,000 (March 1991)
- Taxes: $3,253 (2007)
- Days on market: 12
- Listing agent: Patricia Houlihan, Macdonald Realty
"Regardless of what the market is doing, it is clear that location still remains the key factor in selling a home," says real estate agent Patricia Houlihan.
This is why she was able to receive six offers and a sale price of $71,000 above the listing price for a 98-year old home in dire need of updating and repair.
"Because this home is located one block from trendy Main Street, we were able to sell it for more than would have been expected, given the condition of the property," the agent says.
The 2,013-square-foot home was built in 1910 and though it retains many charming features such as stained glass windows, a wood-burning fireplace and fir floors, "it needs significant work to return it to its former glory," she says.
"The house was a rental property for many years with just two of the three bedrooms upstairs. The third is in a separate basement suite. It is not a great family layout," she explains. "And it is mostly younger families who are looking to move into this neighbourhood."
Even though the lot size is large, at 33 feet by 122 feet, it too "needs work in order to improve appearance," Ms. Houlihan says.
But if the new owners are ready to renovate, they will soon be enjoying a character home, on a large lot, close to schools, shopping, restaurants, transit and recreation.
