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The Toronto Real Estate Market is never dull! This is a story and a breakdown of an incredibly cute house, that sold increadibly fast – not so incredibly over asking. You can read the orginal article on BlogTO here

 

 

 

 

 

 

 

 

 

 

 

 

The house is 116 Ulster Street. and within 24 hours of being listed on the market, it was sold. It was sold for 300k over the asking price of $1.2M at $1.5M – that’s 26% over asking.

Why did this house sell so fast and for so much? Well when you look at the big picture is not actually that surprising.

First let’s talk location.

This little house located on Ulster Street, in Harbord Village, just north of College St. and Bathurst St., and just South of Bloor St. West and Bathurst St.

Harbord Village in Toronto is absolutly charming; and one of the areas that still feels like old west-end downtown Toronto. It’s also located at the centre of where the Annex meets Little Italy – two of Toronto’s most desirable neighbourhoods for residents seeking refuge from downtown, downtown. Harbord Village – Ulster Street in perticular is much less-assuming than both of these areas – and that makes it quieter too.

The street itself is full of old-Toronto charm with huge trees, some notably beautiful brownstones.

Finally it’s close to everything – the Royal Ontario Museum, U of T, incredible shopping on Bloor Street, and countless great restaurants. This is a beautiful house in the heart of everything. Which brings us to the second reason this house sold so fast and for so much.

The House

The house itself is over 100 years old and registed as a century home with Hertiage Toronto. It also happens to be beautifully renovated with locally-sourced, wide-plank, sustainable, found-hardwoord floors; subway tiling in the modern washroom. Outdoors the property features a flagstone patio sutable for celebrating summer nights – totally seculded from the rest of the city.

The Renovations

Finding a century old house in downtown Toronto in good shape is no small feat – let alone one freshly renovated as beautifully as this one. There is somthing to be said for a turn-key solution – in many cases a fresh, finished interior can be extreamly inticing to potential buyers, and inspire some pretty quick decision making.

The Time of Year

There’s not really a good or bad time to put your house on the market – but in this case the timing of the weather, with the unique outdoor space and urban-oasis this home had to offer – I’m sure the promise of warmer weather played a bit of a deciding factor for the buyer here. Who wouldn’t want to spend the summer on this patio?

Conclusion

This quick high-priced sale was a bit of a perfect storm – but not an unbeliveable one at all. A house of this caliber in a location in the heart of the city, with this much care put into the upkeep – isn’t an everyday opportunity.

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