Forest Hill Real Estate Inc.
421 Summeridge Dr., Vaughan, Ont.
Asking price: $1,329,000
Selling price: $1,318,000
Previous selling price: $438,153 (2005); $160,000 (2004)
Taxes: $6,347 (2019)
Days on the market: Six
Listing agent: Michael Steinman, Forest Hill Real Estate Inc.
The action
A couple of blocks west of Sugarbush Heritage Park and Highways 407 and 7, this four-bedroom home was posted for sale in August, which is usually one of the slower months for real estate transactions. Buyers could easily browse elsewhere – including a slightly smaller and less renovated version listed across the street through a discount brokerage – yet, it scored two offers six days later.
“The home across the street sold for approximately $1,120,000. This means the seller saved about $45,000 in commission. However, they also sold their home for $198,000 less than 421 Summeridge sold for,” agent Michael Steinman said.
“After making the necessary adjustments for size and upgrades, let’s say 421 Summeridge was worth $50,000 more. This still means while the seller across the street saved $45,000 in commission, they ended up losing $148,000 on the actual value of what the house should have sold for in the current market.”
What they got
The kitchen was recently remodelled.Forest Hill Real Estate Inc.
Tucked within a roughly 15-year-old subdivision, this two-storey residence provides a mix of formal and casual gathering spots, as well as a built-in double garage and a south-facing yard on the 43-foot-by-86-foot lot.
Interior details are largely classic, such as a gas fireplace in a rear family room and hardwood floors, crown mouldings and pot lights in the open living and dining areas.
Conveniences include a recently remodelled, eat-in kitchen with access to a deck, a main-floor laundry room and five bathrooms.
The agent’s take
“This home was 2,550 square feet, and featured a stunning, renovated kitchen with Caesarstone counters,” Mr. Steinman said.
“It also featured a fully finished basement and three second-floor bathrooms.”
Your house is your most valuable asset. We have a weekly Real Estate newsletter to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.