Annex semi sells for $149,000 under asking after sellers turn down first offer

420 Brunswick Ave., Toronto

Asking price: $3,439,000 (May, 2022)

Selling price: $3,290,000 (June, 2022)

Previous selling prices: $1,550,000 (October, 2015); $604,000 (July, 2002)

Taxes: $11,853 (2021)

Days on the market: 34

Listing agents: Nigel Denham, Robert Nelson and Penny Brown, Sotheby’s International Realty Canada

The action

This renovated, semi-detached house hit the market early this summer and, being a rare opening in the much-desired Annex, quickly drew an offer. However, the sellers decided to turn down that pitch and wait to see what else came up. A month later, they accepted a sturdy $3.29-million bid.

“We were pretty much the only game in town in terms of a fully done, single-family home in the Annex around that price point,” said agent Nigel Denham.

“The strategy of pricing low expecting multiple offers is quickly falling out of fashion, especially at more sophisticated price points, so we priced this one where we feel we’re not leaving money on the table, but should result in a relatively efficient sale.”

What they got

This three-storey, brick house has a modern interior design with four bedrooms, open concept family room and updated finishes.

Highlights on the main floor include open living and dining areas and a custom Marcon kitchen, with hardwood flooring and quartz countertops. A back door exits to a yard and two-car parking on the 25- by 128-foot lot.

There are full bathrooms on each level, including the basement, which has a separate entrance, kitchen and two bedrooms with heated floors and nine-foot ceilings.

The agent’s take

“It’s a vintage Annex home about 100 years old, but it was painstakingly and professionally restored back to the bricks,” Mr. Denham said.

“The primary suite was devoted to the entire third floor and created like a sanctuary with a large den, a beautiful ensuite bath and a lovely walkout to a deck.”

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