68 The Westway, Toronto
Asking price: $999,000
Selling price: $1,015,000
Previous selling prices: $495,000 (2006); $318,500 (1996)
Taxes: $4,842 (2018)
Days on the market: Three
Listing agents: Irene Kaushanksy and Philip Brown, Keller Williams Portfolio Realty
This backsplit residence has a layout unlike most bungalows and two-storey homes that were sold in the Richview community this winter, so arriving at an appropriate listing price was a bit of a challenge and the four-month path to a sale was rocky. The home was originally listed at $1.089-million, but got no offers at that price. The asking price was then dropped below $1-million, which drew three offers, but the one bid the owners choose to negotiate eventually feel apart. Relisted once more above $1-million, one more offer was received but that too collapsed in negotiations. When the home was relisted and the price dropped to $999,000 in February, the owners received four offers, the best of which sealed the deal.
“There aren’t a lot [of backsplits], especially in that immediate pocket, which is part of what made it hard to price,” agent Irene Kaushansky said.
“Buyers were convinced that because it was on the market for a while, they could buy it at a much lower price, and we went through a number of offers … [because] we weren’t prepared to take less than what the house was worth.”
What they got
From the street, this 3,646-square-foot house on a 47-by-116-foot lot looks like a bungalow with a double garage. But its living spaces span four levels, including a basement with an eat-in kitchen and a recreation area with a wet bar and a fireplace.
At the front of this 45-year-old home are the primary living, dining and cooking quarters. A central staircase leads up to three bedrooms and down to a fourth bedroom and family room with a gas fireplace and patio exit.
The agent’s take
“The house had a lot of space, like backsplits tend to have,” Ms. Kaushansky said.
“It has a very nice, very big, renovated eat-in kitchen, and it had a window that overlooks the backyard, which is rare for backsplits.”
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.