1029 King St., W. No. 219, Toronto
Asking price: $799,000 (Mid-July, 2021)
Previous asking price: $825,000 (Early July, 2021)
Selling price: $786,000 (Mid-July, 2021)
Previous selling price: $665,000 (February, 2019); $347,600 (December, 2009)
Taxes: $2,441 (2020)
Days on the market: Two
Listing agents: Scott Hanton and Daniel Macfarlane, The Weir Team
Agent Scott Hanton hoped a decent crowd would visit this one-bedroom-plus-den suite at the Electra Lofts building, but didn’t get a single tour request.
“Since COVID, this is the perfect example of how totally unpredictable any listing can be with regards to interest levels,” Mr. Hanton said.
“[Plus] a lot of buyers and their realtors were confused about the different prices in the building because some suites were presenting themselves as larger than they actually were.”
After four days without visitors, this unit was relisted for $26,000 less than previously. That seemed to do the trick, as 10 potential buyers quickly booked private showings. One visitor cut a deal for a further $13,000 off the asking price.
“The spring rush of condo buyers dried up, putting the remaining July buyers in the driver’s seat,” Mr. Hanton said.
“This was staged, painted and sparkling, and ultimately, we think that’s why it stood out.”
What they got
This 810-square-foot unit has a two-storey design with concrete finishes, double-height ceilings, large windows and sliding balcony doors in the open living and dining area.
The principal room is also visible from the kitchen and an upper den and bedroom with glass railings.
The unit comes with two bathrooms and six appliances, plus a storage locker and parking. Monthly fees of $561 cover utilities and use of fitness and party rooms.
The agent’s take
“Whether you’re on the second floor, the fourth or sixth floor, it’s a great building,” Mr. Hanton said.
“This unit has a separate office area, so after the pandemic started, it was a space everybody wanted.”
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.