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done deal

Royal LePage Signature Realty

17 Valifor Place, Toronto

Asking price: $1,250,000 (Late August, 2022)

Previous asking price: $999,000 (Mid August, 2022)

Selling price: $1,150,000 (September, 2022)

Previous selling price: $184,000 (June, 1992)

Taxes: $3,500 (2022)

Days on the market: 21

Listing agents: Elias Ben Khelifa and Munira Ravji, Royal LePage Signature Realty

The action

A staircase leads up to the kitchen.Royal LePage Signature Realty

This semi-detached house on a 15- by 80-foot lot has the benefit of backing on to Monarch Park, but the disadvantage of a split-level design with six floors and multiple staircases. To offset that deficit the price was set at $999,000 last summer.

“There were five staircases essentially, so that limited who could purchase the home,” said agent Munira Ravji.

“We held back on offers originally at $999,000, and one of the reasons we do that is not just to get a bidding war, but also because if we have a family living in the home, we try to wrap it up quickly for them.”

That strategy backfired as the bids that came in were all considered too low. The house was taken off the market, then relisted in the fall at a higher asking price of $1.25-million. One offer came in at $1.15-million, which was accepted.

“The interest rates went up while we were listed, so that really put a damper on things,” Ms. Ravji said.

“One street over on Sandstone [Lane], a similar house was renovated, but actually sold for less than ours, which was a little bigger and the proximity to the park was a big deal.”

What they got

The semi-detached house is on a 15- by 80-foot lot.Royal LePage Signature Realty

This roughly 30-year-old house has a formal foyer with a dining room to one side and a staircase ahead leading up to the kitchen. It has heated floors and sliding doors to a patio and parking off a laneway.

The next level up provides a living room.

The top three floors each accommodate one bedroom. The largest one contains a walk-in closet and one of three bathrooms.

The agent’s take

Royal LePage Signature Realty

“Some people loved the stairs because it’s a really interesting layout,” Ms. Ravji said.

“There not a ton of turnover in the area because people raise their families there and know all their neighbours. My clients were there for 30 years themselves.”