101 Old Orchard Grove, Toronto
Asking price: $2,298,000 (August, 2022)
Selling price: $2,188,000 (August, 2022)
Previous selling prices: $1,625,000 (July, 2019); $337,000 (February, 1989)
Taxes: $7,969 (2022)
Days on the market: 12
Listing and buyer’s agents: Belinda Lelli, Sylvia Wolff and Suzanne Stephens, Royal LePage Real Estate Services
Some agents dread hosting open houses because of the often fruitless hours of standing and conversing with unenthusiastic attendees. But many agents realize that buyers need time to consider a potentially life-changing decision. That slow but gradual process paid off for this two-storey house near the Toronto Cricket Skating and Curling Club.
“People want to walk into a house and not have the pressure of an agent calling them, so they can just walk away with all the information, talk with their parents or have their kids through,” said agent Belinda Lelli.
“[The eventual] buyers walked into my open house the first weekend twice, and once again on the following Saturday.”
The buyers and sellers also took their time to negotiate the final sale price, settling for a figure $110,000 less than the asking price. “The sellers felt … comfortable listing their home for the market value, with some room to negotiate, versus underpricing so as to illicit a bidding war,” Ms. Lelli said.
“The sellers did a lot of upgrades to this home, hence it sold higher than many comparables.”
What they got
This three-bedroom house was built in 1921, and was modernized and expanded in 2020.
Updates include hardwood flooring on the main and upper levels, and heated floors in one of the four bathrooms. The kitchen was given granite countertops, stone backsplashes and stainless-steel appliances.
There is an open dining area and two entertaining areas with fireplaces. French doors open out to a south-facing deck, patio, yard and garage on the 25- by 120-foot lot.
Extra recreation space and guest bedrooms are in the basement.
The property closed on Oct. 27.
The agent’s take
“My sellers did the renovations for themselves and that adds a different element to it; they weren’t doing it to sell,” Ms. Lelli said.
“The school catchment is highly desirable, and it is steps to daycares, parks, transit and shopping.”