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Toronto Real Estate Balanced market slows pace of offers on $2.8-million Cedarvale home

Harvey Kalles Real Estate Ltd.

11 Flanders Rd., Toronto

Asking price: $2,889,000

Selling price: $2.8-million

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Taxes: $9,402 (2018)

Days on the market: 42

Listing agent: Marni Lokash, Harvey Kalles Real Estate Ltd.

The action

This 3,000-square-foot house on a 36-by-100-foot lot near Eglinton West station had a steady flow of visitors, one of whom brought an early offer. When that deal fell through, another admirer circled back with a bid in late October.

“The sale is a good example of how the market is still strong but more balanced now, as it took about six weeks to sell,” agent Marni Lokash said.

“In fact, the buyers that ultimately bought the house, were interested in it during the first week, almost put an offer in, and then backed out, only to come back a month or so later to purchase it.”

What they got

In 2017, this two-storey residence was rebuilt with five bedrooms, five bathrooms, two formal entertaining areas, as well as casual recreational spaces on the main and lower levels.

Outdoor assets consist of a deck and private backyard off the kitchen and a long driveway to the attached garage.

The agent’s take

“The neighbourhood is very attractive as it boasts one of the best public schools, Cedarvale Community School, which is intimate and has an International Baccalaureate program,” Ms. Lokash said.

“The ravine and parks nearby are the best kept secret for those that live in the area. Additionally, with the LRT underway, and TTC, plus access to [Highway] 401, it’s a great spot to live in for easy commutes.”

The house itself shone with new, modern attractions. “It was essentially a brand-new home and contemporary in style,” Ms. Lokash said.

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