Sotheby’s International Realty Canada
3 Kenninghall Blvd., Mississauga
Asking price: $1,208,800 (June, 2021)
Selling price: $1,480,000 (June, 2021)
Previous selling price: $946,000 (June, 2018); $230,000 (May, 1994)
Taxes: $6,280 (2020)
Days on the market: Seven
Listing agents: Nigel Denham, Robert Nelson and Penny Brown, Sotheby’s International Realty Canada
The action
Priced at an artificially low $1,208,800, there were about 60 visitors and nine purchase offers made.Sotheby’s International Realty Canada
In the Streetsville area, it was a commonly adopted strategy this summer to list properties far below market value to generate multiple offers. In consequence, this raised bungalow on a 74-foot-by-150-foot lot was priced at an artificially low $1,208,800. The move succeeded in drawing out about 60 visitors and nine offers to purchase.
“I’m not a huge fan of pricing lower for bidding wars, but in doing our research, that was the course of action for 95 per cent of the listings for comparables,” agent Nigel Denham said.
“There was limited inventory – maybe a handful of listings – in and around that price point,” Mr. Denham said.
“And we had superior frontage and also backed on to green space.”
What they got
The back patio can be reached from the lower level fitness and recreation area.Sotheby’s International Realty Canada
The postwar bungalow has an updated three-bedroom plan with an attached double garage, a formal kitchen and open living and dining areas with sliding doors to a south-facing deck.
The back patio can be reached from the lower-level fitness and recreation area, which also has a sunroom, den and full bathroom.
The agent’s take
The home has open living and dining areas with sliding doors to a south-facing deck.Sotheby’s International Realty Canada
“Forty and 50-foot frontages [are standard], so with 75-foot frontage, we stood out from the crowd,” Mr. Denham said.
“It backs onto a trail and is in proximity to several parks, which made it a big draw for a lot of young families.”
The house also brings the outdoors inside. “The nice thing about raised bungalows is you get that beautiful walkout lower level, so your basement doesn’t feel like a basement because it’s all glass and doors across the back,” Mr. Denham said.
Your house is your most valuable asset. We have a weekly Real Estate newsletter to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.