148 Hopedale Ave., Toronto
Asking price: $998,000
Previous asking price: $1,198,000 (October, 2019)
Selling price: $1,410,148
Previous selling prices: $580,000 (2011); $238,000 (1990)
Taxes: $5,900 (2019)
Days on the market: Seven
Listing agent: Linda Ing-Gilbert, Re/Max Hallmark Realty Ltd.
When this 2½-storey house first entered the market last year listed at $1,198,000, about three dozen buyers visited, but none returned on the offer date. When news circulated that a similar home nearby fetched about 20 bids in the new year, this one was relisted with an asking price less than $1-million. It received 14 offers and sold for $412,148 over asking in mid-February.
“What happened this time around is what I expected to happen when we first brought it out,” agent, Linda Ing-Gilbert said.
“Supply is a lot lower in January, February and March, but it was more so this year because you have new buyers coming into the marketplace who want to get a house, and then you have people leftover from 2018 who waited because policy changes [like stress tests and investor taxes] went into effect … and wanted to see what happened.”
What they got
This 95-year-old house has been modernized, with bamboo floors in the open-concept living and dining areas and an adjacent kitchen with quartz counters and glass subway tile back splashes.
The entire third floor has been transformed into a fourth bedroom with an office area, a walk-in closet, gas fireplace and third bathroom.
The basement is not finished, but it has access to a mudroom that exits to a private stone patio, garage and driveway on the 33-foot-by-101-foot lot.
The agent’s take
“It’s a bigger home, it’s detached, and it has parking, which is really good value in the city,” Ms. Ing-Gilbert said.
“It backed onto a green space that goes down into the Don Valley, so you can hear a dull hum [of traffic], but in terms of privacy, it has a very natural setting in the backyard.”
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.