Two offers in 48 hours for Leaside home needing work

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99 Southvale Dr., Toronto

Asking price: $1,395,000 (March, 2023)

Selling price: $1,525,000 (March, 2023)

Previous selling price: $293,000 (November, 1992)

Taxes: $6,395 (2022)

Days on the market: Two

Listing agent: Dino Capocci, Royal LePage Real Estate Services Ltd.

The action

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Agent Dino Capocci priced this 82-year-old house conservatively at $1.395-million in recognition that some of its finishes were somewhat dated. But, with few other comparable options in the neighbourhood and attributes like a backyard pool and a private driveway, the offers came fast and strong. Within 48 hours the sellers had two solid bids to choose from and took one offering $130,000 over the asking price.

“We had two offers, and there were two others who wanted to submit offers but felt a bit rushed,” said Mr. Capocci.

“The market is picking up big time and that’s indicated when you see that a home that’s older and needs work get multiple offers right away.”

What they got

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This semi-detached house on a 28- by 160-foot lot has three bedrooms, two full bathrooms and formal living and dining areas with hardwood flooring.

The eat-in kitchen is set up with sliding doors to a south-facing deck and a rear stairwell leading down to a guest bedroom and recreation area outfitted with pot lights.

The agent’s take

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“For semis, the lots are sometimes as small as 20 feet [wide], and some are 18 feet, so the extra width here was a big draw,” Mr. Capocci said.

“But the big feature here – besides being in prime Leaside and a prime school district – is it had a very deep lot, so it has a private yard with an in-ground pool, which you don’t see a lot. It also has a private driveway, and they’re very coveted as a lot of semis have mutual drives.”