Some buyers griped about the unit's lack of outdoor space or a second bedroom.Supplied
1 Scott St., No. 404, Toronto
Asking price: $899,900 (May, 2024)
Previous asking prices: $919,900 (March, 2024); $935,000 (January, 2024)
Selling price: $845,000 (May, 2024)
Previous selling prices: $515,000 (January, 2010); $377,343 (December, 2009)
Taxes: $3,638 (2023)
Days on the market: 29
Property days on market: 116
Listing agent: Christopher Bibby, Re/Max Hallmark Bibby Group Realty
The action
In a two-tower complex a few blocks east of the St. Lawrence Market, this one-bedroom unit was listed for $935,000 for all of February and relisted for $919,900 for the next two months. Some buyers griped about its lack of outdoor space or a second bedroom, but all the seller could do as countermeasures were to improve its furnishing and promotional materials, and drop the price to $899,900.
The unit comes with a locker and parking.Supplied
“If we don’t change the price or make it more appealing, it’s hard to get engagement,” said agent Christopher Bibby.
“The stager went in and made some additional changes to enhance the space, and we shot a couple videos, including a lifestyle video showing what life in the neighbourhood would be like.”
Those efforts combined brought in new visitors and a previous one who devised a $845,000 offer.
“Other units that were listed were either terminated or suspended, so we were more proactive than others or reactive to the market conditions at the time,” said Mr. Bibby.
“Nothing else sold in the building all year, other than us.”
This one-bedroom unit was listed for $935,000 for all of February and relisted for $919,900 for the next two months. It eventually got a $845,000 offer.Supplied
What they got
The podium of a 15-year-old building contains a small collection of two-storey units, such as this 1,085-square-foot model with 18-foot ceilings, west-facing windows, and a floating staircase to sleeping quarters upstairs.
Classic appointments include tile flooring in the kitchen and two bathrooms, and hardwood flooring in areas like the living and dining area.
The unit comes with a locker and parking. Monthly fees of $925 cover the cost of water, concierge, and recreational facilities, including the outdoor pool.
Classic appointments include tile flooring in the kitchen and two bathrooms, and hardwood flooring in areas like the living and dining area.Supplied
The agent’s take
“The building and location were really exciting for a lot of people,” Mr. Bibby said.
“Some people absolutely love these two-level units … and the division of space that makes it almost feel like you’re living in a home.”