70 Carmichael Ave., Toronto
Asking price: $3,695,000 (Nov. 2019)
Previous listing price: $3,795,000 (Sept. 2019)
Selling price: $3,480,000
Taxes: not available
Days on the market: 41
Listing agents: Andre Kutyan and Robert Greenberg, Harvey Kalles Real Estate Ltd.
Near the Toronto Cricket Skating and Curling Club, a similar, fairly new residence sold for $3.7-million in 2017, but only fetched $3.5-million last year. Given that outcome, the sellers of this luxury home – which was listed nearby at the same time – dropped their own price, but resisted buyers seeking steep bargains.
“Prices have softened since 2017 – there’s no secret – so it’s up to sellers to be proactive with their pricing to make sure they’re in line with market conditions,” agent Andre Kutyan said.
“[Buyers] originally came with a lowball offer a couple weeks before and we couldn’t get anything done. So, we were talking about relisting this in the new year at a lower price, but they came back with a significantly improved offer and were able to get a deal done at $3.48-million.”
What they got
This four-bedroom home was built last year on a 52-foot-by-115-foot lot. It has a limestone façade, built-in double garage and multiple walkouts to a fenced-in backyard.
Inside, on the main floor, intricate trim and ceiling treatments decorate the study, eat-in kitchen and two entertaining areas, each with gas fireplaces. Upstairs, the master bathroom, the largest of seven bathrooms in the house, has a nine-piece setup. The lower level has a guest bedroom and recreation space with heated, porcelain floors.
The agent’s take
“It has high-end finishes for a custom home,” Mr. Kutyan said.
“[Furthermore], the average lot in that pocket is about 40 feet in width so when you have a 52-footer … [with] a 4,000-square-foot home like this, it’s rare compared to 40-footers, which might be 3,000 or 3,500 square feet at most.”
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