Sotheby’s International Realty Canada
39 Thorncliffe Ave., Toronto
Asking price: $2,350,000 (May, 2022)
Previous asking price: $2,195,000 (April, 2022)
Selling price: $2,050,000 (June, 2022)
Previous selling prices: $765,000 (October, 2007); $550,000 (February, 2002); $376,000 (September, 1995)
Taxes: $6,862 (2021)
Days on the market: 34
Listing agents: Lucille Chenoweth and Myles Slocombe, Sotheby’s International Realty Canada
The action
The house contains two entertaining areas.Sotheby’s International Realty Canada
This two-storey house was decluttered and staged in April to create a welcoming atmosphere. But, as the market downturn gathered steam, no potential buyer felt willing to make an offer.
“It took about three weeks to do those [preparations] and in that time, the mortgage rates went up,” agent Lucille Chenoweth said.
“With what’s going on with the economy and talk of the U.S. going into a recession, there was a fair bit of negative talk out there, so that’s making buyers more weary, more cautious and more realistic.”
The price was raised to $2.35-million in May, but interest rates rose again. In June the seller accepted a low-ball $2.05-million offer.
“A buyer who’d seen it in the first couple of days wanted to buy it but wasn’t willing to get into a multiple bid situation, so they didn’t make an offer back then,” Ms. Chenoweth said.
“They hadn’t bought anything else, so they came back and ended up being the buyers.”
What they got
The adjacent dining room offers a wet bar.Sotheby’s International Realty Canada
This roughly 70-year-old house has an updated three-bedroom plan on a 30- by 155-foot lot backing onto the Don Valley ravine.
It contains two entertaining areas, including one with a gas fireplace, plus a second recreation area, bathroom and sauna in the basement.
The eat-in kitchen has stone countertops and stainless steel appliances. The adjacent dining room offers a wet bar and sliding doors to one of two rear decks.
The agent’s take
An entertaining area with a gas fireplace.Sotheby’s International Realty Canada
“This was a pretty special house because it had a lovely big back garden, a generous driveway and carport, and a really nice eat-in kitchen with a solarium/family room addition,” Ms. Chenoweth said.
“Playter Estates has a wonderful school system – Jackman [Ave. Jr. Public] School – and it’s close to Bloor Street and the Danforth.”
Sotheby’s International Realty Canada
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