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Sotheby’s International Realty Canada

123 Cranbrooke Ave., Toronto

Asking price: $1,689,000

Selling price: $1,717,000

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Previous selling price: $737,199 (2009); $591,000 (2003); $390,000 (2000)

Taxes: $7,226 (2020)

Days on the market: one

Listing agents: Nigel Denham and Robert Nelson, Sotheby’s International Realty Canada

The action

The real estate agents decided on a pricing strategy that would avoid unnecessary delay and any bidding wars.

Sotheby’s International Realty Canada

As soon as the owners of this two-storey house bought their next home, they listed this one quickly to take advantage of September’s strong seller’s market. Although similar nearby properties sold with set offer deadlines and artificially low starting prices, the agents decided on a straight-forward pricing strategy to avoid unnecessary delay.

“We made a last-minute decision to price it at what we expected to get, with no offer date, and give somebody a chance to lock in the property without the uncertainly and silliness that comes out of blind bidding wars,” agent Nigel Denham said.

“Someone realized that opportunity and paid a small premium to make sure there was no opportunity for someone else to come in and muddy the waters.”

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What they got

The upgraded galley kitchen features a gas range and adjacent breakfast nook.

Sotheby’s International Realty Canada

This nearly 100-year-old house has had numerous renovations over time, such as the installation of a second bathroom with heated floors and a sleek new kitchen with a breakfast nook and exit to a covered deck.

There’s hardwood flooring in the dining room and all three bedrooms upstairs. The main floor family room and the lower level entertaining area both have fireplaces installed.

The 25- by 110-foot lot accommodates both a back yard and front parking pad.

The agent’s take

Hardwood flooring runs through the living and dining areas, as well as the three bedrooms upstairs.

Sotheby’s International Realty Canada

“It’s an original foursquare plan, so it’s not big,” Mr. Denham said. “But it was detached, south-facing with parking, and has an upgraded kitchen and bathrooms, so it was very turnkey.”

“The location is walkable to Yonge, which drives pricing, and the school district is one of the most desirable in north Toronto.”

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