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Toronto Real Estate Lawrence Park home sells over asking price amid stiff competition

Royal LePage Real Estate Services Ltd.

24 Melrose Ave., Toronto

Asking price: $1,599,000

Selling price: $1,675,000

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Previous selling prices: $615,000 (2005); $265,000 (1990)

Taxes: $6,660 (2019)

Days on the market: Seven

Listing agent: Belinda Lelli, Royal LePage Real Estate Services Ltd.

The action

Most of the house was modernized and expanded about 10 years ago.

Royal LePage Real Estate Services Ltd.

This three-bedroom house appealed to young families – especially with a daycare just steps away – so agent Belinda Lelli distributed “Coming Soon” signage and marketing materials just before Family Day weekend. The first day on the market, a Tuesday, gave interested buyers the time to browse or attend two weekend open houses prior to the scheduled presentation date the following week.

“Four properties in the immediate vicinity had an offer night the same night [as us], so it was a challenge because people had three other options,” Ms. Lelli said. Only this house and one other received multiple bids.

“I chose to work with two non-conditional offers. Both represented families with children wanting to move into the Bedford Park elementary school and Lawrence Park Collegiate Institute school catchment, and be close to great amenities, all within walking distance.”

What they got

The kitchen has new hardwood floors and stainless steel appliances.

Royal LePage Real Estate Services Ltd.

The bones of this two-storey home date back to the 1930s, but almost everything else was modernized and expanded about 10 years ago.

For instance, the kitchen has refinished hardwood floors, new Corian counters and stainless steel appliances. It was also opened up to a sunken family room addition with a gas fireplace and glass doors to the fenced-in backyard.

There are formal living and dining rooms, along with an open recreation area with one of two bathrooms in the basement.

The agent’s take

The family room has glass doors that open to a fenced-in backyard.

Royal LePage Real Estate Services Ltd.

“[It’s a] classic, turnkey home that radiates warmth, love and pride of ownership … [and] is situated on a rare 25-by-150-foot pool size lot, ideal for entertaining, pets and families,” Ms. Lelli said.

“The majority of the homes are maximum 120 or even 125 [feet deep], so going forward you could add an entire addition onto this house. And it also has two-car parking, which is huge.”

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