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done deal

Harvey Kalles Real Estate Ltd.

130 Chudleigh Ave., Toronto

Asking price: $1,595,000 (October, 2022)

Selling price: $1,915,000 (November, 2022)

Previous selling price: $2,206,000 (December, 2021)

Taxes: $8,076 (2022)

Days on the market: seven

Listing agents: Andre Kutyan and Robert Greenberg, Harvey Kalles Real Estate Ltd.

The action

Harvey Kalles Real Estate Ltd.

The owner of this four-bedroom house by Lawrence Park Collegiate Institute acquired it for $2.206-million in 2021, but decided to part with it a year later despite selling into a weaker market. Agent Andre Kutyan sold a three-bedroom house on the same street for $1.82-million two weeks prior in October, so he reckoned this one should start lower at $1.595-million to pull in buyers.

“We knew we weren’t going to get north of $2-million this year given what’s happened to the market, but it was a question as to what exactly it was going to be,” said Mr. Kutyan.

“We just had another sale at 60 Chudleigh, but this one is on a larger, wider lot and it has four bedrooms, which is rare – most older homes have three bedrooms – and this has a private drive.”

Three bidders competed, with one adding $320,000 to the asking price. The seller accepted, despite this being 15 per cent less than what they had paid just a year earlier.

“It’s in a great neighbourhood with great schools and great transit, so regardless of what’s going on with rates and housing market trends, these are all things that will attract buyers,” said Mr. Kutyan.

“But if you looked at what it sold for last year at $2.206-million versus this year, the price is almost down 15 per cent. It’s the perfect example of the exact same property – nothing has changed – and the difference in 12 months.”

What they got

This 94-year-old house has a formal living room with a wood-burning fireplace and gumwood panelling in the dining room.

There is a small office and an eat-in kitchen. A recreation room and bathroom are downstairs.

There’s also a garage on the 33- by 120-foot lot.

The agent’s take

“The big draw are the schools in the area, like John Ross Robertson public school, and Lawrence Park Collegiate high school, which is literally a stone’s throw away,” said Mr. Kutyan.