18 Carmichael Ave., Toronto
Asking price: $1,195,000 (June, 2022)
Selling price: $1,625,000 (June, 2022)
Previous selling prices: $766,000 (May, 2012); $194,900 (May, 1987)
Taxes: $5,112 (2022)
Days on the market: Five
Listing agents: Andre Kutyan and Robert Greenberg, Harvey Kalles Real Estate Ltd.
This summer, bungalows were in scarce supply around the Toronto Cricket Skating and Curling Club, giving this updated bungalow a captive audience. It also didn’t hurt to advertise an extra low price of $1.195-million.
“The way I priced it, I wanted to attract everybody, either looking at it for land, top up renovations or to live in it,” agent Andre Kutyan said. “From the land perspective, there’s an upside: if you look at new houses on 30-foot lots, they sell for $3-million to $3.5-million.”
Nearly 1,100 buyers viewed the details of the 30- by 125-foot property on MLS and the property got attention on social media. Forty-one scheduled personal tours, and then 13 bidders put in offers.
“Pre-COVID, I used to have approximately five per cent of the people online come in person for a showing or open house and five per cent of those would submit offers,” Mr. Kutyan said.
“We are getting less people through the door today, but the offer-to-showing ratio has at least doubled at the minimum and was up to six times more, like on 18 Carmichael. I’m also achieving this without hosting a single public open house since March of 2020.”
What they got
In the late 1940s, this two-bedroom house was constructed with 925 square feet of living space, including a living room with a fireplace.
Ten years ago, new roofing, windows and mechanics were installed, two bathrooms were updated, and the kitchen was remodeled and opened to the dining room.
Recreation and guest rooms are in the basement, which has an exit to the driveway.
The agent’s take
“The house showed really well, it was fully up-to-date,” Mr. Kutyan said. “And it has a custom-made cedar deck.”
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