Houssmax/Supplied
873 Edistel Cres., Mississauga
Asking price: $1,788,000 (May, 2024)
Selling price: $1,875,000 (May, 2024)
Previous selling price: $310,000 (November, 1995)
Taxes: $9,520 (2023)
Days on the market: Eight
Listing agent: Andrew Ipekian, Keller Williams Referred Urban Realty
The action
The house is on an 80- by 125-foot lot and has an in-ground swimming pool.Houssmax/Supplied
The home has two entertaining areas, including one with a fireplace and an exit to the pool.Houssmax/Supplied
In a residential area between Lake Ontario and Queen Elizabeth Way, this four-bedroom house on an 80- by 125-foot lot instigated a bidding war before the Victoria Day long weekend after being listed far below its estimated value. The reasons for the pricing decision ranged from minimizing disruption to a tenant to grabbing buyers before they disappeared on vacation.
“You don’t want to inconvenience your tenant too much and have the listing drag out too long, so you want to be aggressive with the pricing and make it as quick as possible while trying to yield the best result for your client,” said agent Andrew Ipekian.
“And we wanted to be on the market and sold before the summer hit, because that’s generally the slowest time in real estate.”
Five bidders didn’t disappoint, but one raised their offer $87,000 beyond the $1,788,000 price tag.
“We were priced well and sold before those others did, so it was a good sales strategy,” said Mr. Ipekian.
“A lot of families were looking into renovating the home and some looked at building onto the house as well. A lot of people were from Toronto, looking to have more space in a great school district and a big back yard.”
What they got
The home has an eat-in kitchen.Houssmax/Supplied
This roughly 50-year-old house has a classic two-storey plan with a dining room, an eat-in kitchen and two entertaining areas, including one with a fireplace and an exit to the in-ground pool.
Conveniences include a newly refinished basement, three bathrooms and a double garage.
The agent’s take
Houssmax/Supplied
“Given the fact you’re in a prestigious area, a lot of the lots are larger, so they can accommodate a pool,” Mr. Ipekian said.
“And to get a west-facing lot on a quiet street is extremely rare.”