Fourteen bids for semi, with sale $268,500 over asking

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16 Forman Ave., Toronto

Asking price: $999,000 (February, 2023)

Selling price: $1,267,500 (February, 2023)

Previous selling price: $458,000 (December, 2006)

Taxes: $5,965 (2022)

Days on the market: Seven

Listing agents: Belinda Lelli and Suzanne Stephens, Royal LePage Real Estate Services Ltd.

The action

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In January, owners of this semi-detached house sought advice on the best time to list. With resale inventory low, the answer was: right away. By the second week of February, the home had been staged and opened to the public priced at just under $1-million. The response was overwhelming, with more than 300 visitors touring the house and 14 registered offers.

“We said to get it on the market as soon as possible because there was less supply in February,” said agent Belinda Lelli. “The amount of offers indicated as much; there’s always people looking.

“We had many families through that were desperate to get in to this Davisville Village community as it offers every desirable amenity inclusive of parks, top schools, transit, top Walk Score, proximity to Kay Gardner Beltline Trail and more.”

Two late offers were rejected outright and the sellers agreed to a bid of $1,267,500 – $268,500 over asking.

“In that catchment, under $2-million is the sweet spot,” Ms. Lelli said. “So if you have a semi you tend to get multiple offers.

“There were a couple other semis [nearby] in Leaside, but this one was more updated.”

What they got

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This two-storey house, built around 1930, has three bedrooms and open living and dining areas, all with hardwood flooring.

There’s a skylight upstairs and heated floors in the larger of two bathrooms.

The backyard deck is accessed from the kitchen. There’s also a shed and parking at the back of the 17- by 180-foot lot.

The closing date is May 15.

The agent’s take

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“It was a much bigger lot, so you could extend this house and never have to move,” Ms. Lelli said.

“It had parking and a backyard, which sound like regular things, but it’s a big deal for people with kids.”