A detached three-bedroom home near College Street and Dovercourt Road in Toronto sold in June for approximately $1.545 million, $55,000 below its initial asking price. The property, listed in March during the early spring market, attracted significant interest, with more than a dozen private showings and two dozen visitors during open houses.

The listing agent, Dino Capocci, noted that the sellers chose to set an asking price slightly under $1.6 million, reflecting a realistic valuation amid a dynamic market. This strategy differed from other nearby sellers who priced homes lower to spark bidding wars. After two weeks on the market, a single offer was made, leading to the sale just below the listed price.

Mr. Capocci explained that although there was consideration to reduce the price further or implement an offer deadline, recent sales trends suggested that maintaining a steady asking price with room for negotiation was a more effective approach. He said, “We decided it was better to go a little higher; leave some room for negotiation. And that’s exactly what happened.”

The 99-year-old residence offers 1,292 square feet of living space across two floors, featuring a mix of original charm and modern upgrades. These include a renovated kitchen, hardwood flooring, and an updated furnace. The main level comprises a dining area, living room with fireplace, and a mudroom equipped with laundry facilities leading to a backyard patio. The property sits on a 25-by-90-foot lot.

On the upper floor, three bedrooms and two bathrooms are situated, while the finished basement contains a separate kitchen, bathroom, and recreational area with an independent entrance accessed via an updated walkway and garage facing the laneway. The inclusion of a one-car garage added to the home's appeal, providing coveted private parking.

Describing the condition of the property, Mr. Capocci characterized it as “good, turnkey condition” with desirable features such as the private garage and a basement with side entrance, which contribute to its market value in Toronto’s competitive housing environment.