Done Deal, 386 Brookdale Ave., Toronto
386 BROOKDALE AVE., TORONTO
ASKING PRICE: $2,598,800
SELLING PRICE: $2.5-million
PREVIOUS SELLING PRICE: $1,088,000 (2015)
TAXES: not available
This large, custom-built, detached home in a sought after school district in Toronto sold for $98,800 under asking after spending 25 days on the market the second time it was listed.
DAYS ON THE MARKET: 25
LISTING AGENT: André Kutyan, Harvey Kalles Real Estate Ltd.
The Action: Given the frenzy of fall sales conducted by agent André Kutyan, he suggested this custom, two-storey house be listed around $2.6-million in December. In the absence of a bid within two weeks, it was taken off the market during the holidays and relisted at the same price in January. After a total of 10 open houses, the sellers secured a deal of $2.5-million in February.
"Right now, if I look for homes on 20- to 30-foot lots in the area … from $1,995,000 to $3-million, there are 12 [comparable] homes on the market, and many of them have been listed and relisted over and over. Some have been on the market for several months, some have been on the market for over a year," Mr. Kutyan said.
"The market is very strong, but very price sensitive."
What They Got: Built last year on a 25-by-112-foot lot, this more than 2,200-square-foot residence features high-end operating systems and luxury appointments, from heated floors in the basement to a modern staircase floating between glass railings and MDF wall panels.
Oak hardwood floors and crown mouldings adorn the living and the dining area, as well as a sunken kitchen and family room, which was also bestowed with a waterfall edge island, gas fireplace and sliding doors to a deck.
The second floor is filled out with four sleeping quarters, including a master with a walk-in closet and six-piece en suite, which is the largest of five bathrooms.
The Agent's Take: "Even if there is a softening of the market, there's still high demand in the area," Mr. Kutyan said.
"John Wanless is a top public school, you're walking distance to Avenue Road and close to the Yonge and Lawrence subway station."
The calibre of the home's construction also met – and surpassed – the needs of many buyers. "It has a timeless front elevation and inside it has modern flair," Mr. Kutyan said.
"It's a custom-built home, so you're getting a lot of extras and features, like a high-end Sub-Zero and Wolf appliance package, all Caesarstone countertops and a beautiful wine storage display that's a focal point in the living and dining room."