Starter home sells over $2-million with supply uptick

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341 Glengarry Ave., Toronto

Asking price: $2,099,800 (April, 2024)

Selling price: $2.03-million (April, 2024)

Previous selling prices: $1,747,000 (August, 2020); $650,000 (September, 2006)

Taxes: $6,717 (2023)

Days on the market: 21

Listing agent: Ira Jelinek, Harvey Kalles Real Estate Ltd.

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The action

This three-bedroom house on a 35- by 106-foot lot came to market this spring as the inventory of detached houses picked up in the area around Avenue Road and Lawrence Avenue. Over the space of three weeks it had about 15 private tours and 10 open house attendees. Rather than head into another week of marketing, the sellers accepted an offer $69,800 under their asking price.

“Typically, houses in this neighbourhood can go up to almost $6-million today, and in this little pocket semi-detached houses don’t really exist, so this was a starter house in this pocket,” said agent Ira Jelinek.

“Even though reports say inventory is higher compared to a year ago, certain areas are very scarce still.”

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What they got

This two-storey house built in the 1950s was recently refreshed in several ways, from the remodelling of two bathrooms and the basement to the installation of new kitchen appliances and hardwood flooring on the main level.

There’s an office within the primary bedroom upstairs, a full-height fireplace in the living room, and a south-facing deck just beyond the sliding doors in the dining area.

One car can fit in the built-in garage, and three more on the driveway.

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The agent’s take

“Being closer to Avenue is more preferred because of the walkability to amenities,” said Mr. Jelinek.

“It was quite a large, detached property on a [lot] 30 feet wide, compared to semis, you’d be lucky to get 25. The average semi is Toronto is about 20 feet.”