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Toronto Real Estate Buyers pay $77,100 premium for compact condo in Midtown Toronto

195 Merton St., Toronto.

195 Merton St., No. 601, Toronto

Asking price: $379,000

Selling price: $456,100

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Taxes: $2,038 (2017)

Days on the market: Six

Listing agents: Elli Davis and Shawn Venasse, Royal LePage Real Estate Services Ltd.

The action: Bidding wars often ensue over units in this mid-rise building backing onto the Kay Gardner Beltline Park and Trail. For instance, this south-facing unit was especially popular with seven offers in February.

“We had very strong activity on it because there wasn’t a lot on the market. The appeal was the price and location,” agent Elli Davis said. “Under $500,000 in a central building is hard to find these days.”

What they got: This one-bedroom unit has open entertaining quarters outfitted with parquet floors, stained steel appliances in the U-shaped cooking area and a walkout to an L-shaped balcony.

Stacked laundry machines round out the unit, which also comes with a locker and parking. Each month, $481 covers utilities, 24-hour concierge, games, party and fitness rooms.

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The agent’s take: “It’s a relatively newer building with good facilities,” Ms. Davis said. “It was a small suite … [however] it had a balcony facing the trees, so it had a quiet exposure.”

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