William Kwok
40 Gormley Ave., Toronto
Asking price: $2,195,000 (August, 2024)
Selling price: $2,138,000 (August, 2024)
Taxes: $9,084 (2024)
Days on the market: Five
Listing agent: Dino Capocci, Royal LePage Real Estate Services Ltd.
There are three recently remodeled bathrooms and an updated kitchen with quartz countertops and stainless steel appliances.William Kwok
The action
This five-bedroom house, situated between Yonge Street and Upper Canada College, was briefly listed before the onset of the pandemic in 2020. The owners revisited the idea of selling it as their next home was nearing completion and they noticed their agent sold a newer house three kilometres away in just one week in August. Two weeks later, this property was posted for sale priced at $2.195-million. A deal was struck for $57,000 under the asking price five days later.
“I listed it in August and it worked because there was no inventory and sometimes that’s more important than what time of the year you’re selling,” said agent Dino Capocci.
“We had one offer and ‘old school’ negotiated it,” he said. “We dropped a bit on the price, and everybody was really happy.
“My clients were very reasonable. They knew market conditions were not optimal.”
The living and dining rooms both feature nine-foot cove ceilings. An additional recreation area is in the basement.William Kwok
What they got
This 2½-storey house was built roughly 70 years ago, but has been expanded and renovated by successive owners. There are three recently remodelled bathrooms and an updated kitchen with quartz countertops, stainless steel appliances, and a breakfast room addition with access to the patio and yard.
The living and dining rooms both feature nine-foot cove ceilings. An additional recreation area is in the basement.
For parking, there is a double garage at the back of the 25- by 119-foot lot.
For parking, there is a double garage at the back of the 25-by 119-foot lot.William Kwok
The agent’s take
“The location is in prime Deer Park on Gormley [Avenue] with five bedrooms and three bathrooms, so it checked all the boxes,” said Mr. Capocci.
“It’s a very tight area in the city, so a lot of the houses are semi-detached and have shared driveways and some laneway parking. But this one had a two-car garage, and it was newer.”
A breakfast room was added with access to the patio and yard.William Kwok