Second bidder trumps first offer for Leaside home

483 Broadway Ave., Toronto

Asking price: $2,995,000 (October, 2022)

Selling price: $3,015,000 (October, 2022)

Previous selling price: $1,430,000 (August, 2009)

Taxes: $12,493 (2022)

Days on the market: Four

Listing agents: Cailey Heaps and Melyssa Hollister, Royal LePage Real Estate Services

The action

This four-bedroom house has many of the attributes buyers often look for in Leaside homes, such as a new powder room on the main floor and proximity to a school with a French immersion program. With an offer already on the table, a second bidder came in with a $20,000 bump to the asking price, which was accepted.

“It was a good home – it showed beautifully with a lot of staging and updating,” agent Melyssa Hollister said. “But we did not know what was going to happen because in that market, especially in our area in Toronto, not a lot of properties were getting multiple offers.

“There were four homes listed around the same time, one [sold in late November] and one is still on the market.”

What they got

Just over 100 metres from Northlea Elementary and Middle School, this two-storey house has 2,871 square feet of living space, nine-foot ceilings, upscale finishes and interior access to the garage.

In 2022, improvements were made ranging from a new furnace and sound system to a remodelled eat-in kitchen with updated cabinetry and stainless steel appliances. Double doors exit to a south-facing deck, stone patio and gas fire pit on the 33-by-135-foot lot.

The living and dining areas have wainscoting and the family room has a gas fireplace. Directly below, there is a recreation area with a wet bar.

Another fireplace is in the primary bedroom, along with a walk-in closet and five-piece bathroom with heated floors.

The agent’s take

“It was previously a builder’s home, so it was constructed very soundly and all finishes were good, neat and tidy,” Ms. Hollister said.

“It has a very nice backyard for entertaining, which people really like, and a private driveway, which you don’t get a lot of times in Leaside, especially on that strip. A lot have mutual drives.”