22 Colonsay Rd., Markham, Ont.
Asking price: $1,249,000
Selling price: $1,203,000
Previous selling price: $250,000 (1992)
Taxes: $5,620 (2019)
Days on the market: Seven
Listing agent: Bill Thom, Re/Max Realtron Bill Thom Group Realty Inc.
Right after the new year there were few options for buyers in search of a low-rise home in Markham. This three-bedroom bungalow fit the bill and attracted about 30 house hunters. By the end of its first week on the market a deal was struck for $46,000 under the asking price.
“The average [days on the market] for that price in that area is about three to four weeks,” agent Bill Thom said.
“Bungalows are in big demand because no one is building bungalows [any more].”
What they got
This roughly 50-year-old house with an attached double garage is in solid shape with updated operating systems, roofing, windows and doors.
Inside, there’s the standard living and dining rooms, and a separate eat-in kitchen with stainless steel appliances, including a gas stove.
The master bedroom has a walk-in closet and two-piece bathroom. Another bedroom and a solarium have exits to a fenced-in backyard and pool on the 55-foot-by-109-foot lot.
The basement provides a secondary kitchen, bathroom and two recreation areas with marble floors.
The agent’s take
“People are buying bungalows because they’re either aging and don’t need the stairs or they need a starter home and income [generating potential],” Mr. Thom said.
“Bungalows lend themselves very conveniently for separate entrances.”
This property is also close to highways 407 and 7, golf courses and Yonge Street businesses. “It’s centrally located in Thornhill and considered part of the city now,” Mr. Thom said.
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