Lome Irwin Real Estate Team

Real Estate Team

Globe & Mail- Done Deal: Fears That COVID-19 Would Drive Down Price Of Lytton Park Home Prove Unfounded | Published Oct 9th, 2020


774 Duplex Ave., Toronto
Asking price: $1,759,000
Selling price: $1,749,000
Taxes: $7,967 (2019)
Days on the market: N/A
Listing agents: Carol Lome and Grant and Brayden Irwin, Royal LePage Real Estate Services Ltd., Johnston & Daniel Division

The Action

The long-time owners of this 2½-storey house received an unsolicited offer of about $1.6-million, with the suggestion that the pandemic would only drive down its price. But agents familiar with the area reassured the owners that low inventory levels and high demand would buoy the price. Ultimately, they were proved correct, and the house sold in June for $1,749,000 following three days of off-market exposure.

“We had three or four sales that were very good comps for this house, and we were very adamant the house had $1.75- to $1.8-million value,” agent Carol Lome said.

“We had five or six showings and two offers, so the sellers realized the proper market value for their house.”

What They Got

This three-bedroom house was built around 1925 with a classic centre-hall plan, complete with formal living and dining rooms. The living room also has a gas fireplace, hardwood floors and French doors to a wraparound patio.

Several areas of the 1,802-square-foot space have been modernized by upscale designers Powell & Bonnell, such as the two bathrooms and the eat-in kitchen, which now has Caesarstone countertops, marble backsplashes, skylights and French patio doors.

There’s a spa with a whirlpool tub in the 865-square-foot basement, and two-car parking on the 41-foot-by-50-foot lot.

The Agent’s Take

“It’s a perfect little house with big rooms,” Ms. Lome said. “It had a good living room, dining room and chef’s kitchen with a breakfast room or den that all looked out over a wonderful deck.

“[Plus], this renovation was recent, so it was very current in design.”

https://www.theglobeandmail.com/real-estate/toronto/article-fears-that-covid-19-would-drive-down-price-of-lytton-park-home-prove/