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done deal

Re/Max Hallmark Realty Ltd.

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.

The action

The 95-year-old house has been modernized with bamboo floors.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 third floor has a bedroom with an office area, a walk-in closet and gas fireplace.Re/Max Hallmark Realty Ltd.

Re/Max Hallmark Realty Ltd.

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

The modern kitchen has quartz counters and glass subway tile.Re/Max Hallmark Realty Ltd.

“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.”

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