7 Ravenwood Place, Toronto
Asking price: $1,259,000
Selling price: $1,190,000
Previous selling prices: $780,500 (2015); $292,500 (2001); $274,000 (1998)
Taxes: $4,251 (2018)
Days on the market: 29
Listing agent: Luke Fraser, Royal LePage Signature Realty
This 1½-storey house lies at the end of a cul-de-sac on a 50-foot-by-100-foot lot that widens to roughly 200 feet across overlooking Taylor Creek Park. There were several verbal offers, but a written offer was harder to come by with several other alternatives available nearby priced in the $1-million range this July.
“In that price range, there’s an increasing amount of options for buyers and affordability is an issue,” agent Luke Fraser said.
“There was a property that had sold around the corner for about $1.3-million and it was almost twice the size of this house. But the ravine lot carries value – it’s literally the one thing you can’t change.”
What they got
This 1,179 square-foot house has a three-bedroom and three-bathroom plan with an attached garage and a private backyard accessible from the 772-square-foot basement.
An enclosed porch and upper deck offer outdoor space right off the living and dining room. The living room also has a wood-burning fireplace.
The agent’s take
"In East York, really the only ravine or creek lots you can have are on Taylor Creek, which is not a very big creek,” Mr. Fraser said.
“It’s like a cottage in the city where you’re surrounded by trees.”
Updates to the roof and kitchen also kept the 1950s home in good shape. “It was a beautiful home,” Mr. Fraser said.
“The basement has a walkout to the backyard … so people were considering it as a basement apartment.”
Your house is your most valuable asset. We have a weekly Real Estate newsletter to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.