25 Elsfield Rd., Toronto
Asking price: $2.95-million (June, 2022)
Selling price: $3.55-million (June, 2022)
Previous selling price: $2,455,000 (July, 2018)
Taxes: $10,644 (2021)
Days on the market: 11
Listing agent: Andrew Ipekian, Keller Williams Referred Urban Realty
Owners of this custom, four-bedroom house near Bloor Street rejected the first offer lodged soon after it came on the market, deciding it was too soon to shut out other potential buyers. Fortunately, four additional bids popped up a week later.
“The summer is not a good time to sell, historically,” said agent Andrew Ipekian. “But sometimes you can get a great number because you’re the only property on the street or in the neighbourhood for sale.”
“All the prices and bids were blind, so offers improved and we picked the highest and best one. But it also had to do with deposits and closing dates.”
From the buyer’s standpoint, said Mr. Ipekian, a newly crafted home like this, avoiding the need for messy repairs, merited the $3.55-million offer.
“One of the most important things to sell a home is a clean home in great condition,” he said. “Nobody wants to do any work.”
What they got
This two-storey house has numerous modern conveniences such as a built-in garage, a formal office and casual recreation areas with fireplaces on two levels.
The living room is outfitted with classic wainscotting and waffled ceilings.
The open, eat-in kitchen features an island, Sub-Zero and Wolf appliances, as well as double doors to a stone patio on the 34- by 147-foot lot.
A Juliet balcony lets light and fresh air into the primary bedroom which also has a walk-in closet and one of the home’s five bathrooms.
The agent’s take
“It’s in a great school district, and close to the subway and Bloor Street, but not too close to hear it,” Mr. Ipekian said.
“It’s a fairly new home, custom-built, and it had a walkout basement with a kitchenette, another bedroom and bathroom, so it’s highly versatile for multiple uses as an in-law suite or to rent out.”
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.