Re/Max Hallmark Realty Ltd.
12 Yonge St., No. 409, Toronto
Asking price: $450,000 (August, 2024)
Selling price: $439,000 (September, 2024)
Previous selling price: $408,000 (September, 2019); $247,000 (June, 2016); $245,000 (March, 2011); $224,000 (December, 2009); $200,000 (January, 2009); $143,085 (March, 2007)
Taxes: $1,673 (2024)
Days on the market: 24
Listing agent: Linda Ing-Gilbert, Re/Max Hallmark Realty Ltd.
The action
The 17-year-old unit has a modern, open-concept design with nine-foot ceilings.Re/Max Hallmark Realty Ltd.
This studio suite with a den was just one of many small downtown condos for sale late this summer but got some interest from investors and parents seeking housing for their university-bound kids. About a dozen groups explored the space, but none came forward with an offer.
“At that price in the waterfront/downtown core, we were probably sitting on about three months of inventory,” said agent Linda Ing-Gilbert.
“I had buyers ask me three times if we were taking offers at any time, and I said, ‘Yes,’ but they were almost trained to wait for an offer date.”
Three weeks in, a buyer finally decided to make a bid for the fully-furnished, slightly under 400-square-foot unit, $11,000 under the asking price.
“Normally smaller units, especially in that price point, move better,” Ms. Ing-Gilbert said.
“It was furnished, and it was turnkey, so someone moving in doesn’t need to do anything.”
What they got
Sliding doors lead to a south-facing terrace.Re/Max Hallmark Realty Ltd.
This 17-year-old unit has a modern, open-concept design with nine-foot ceilings, a kitchen set up along one wall and an entertaining area by the sliding doors to a south-facing terrace.
The recessed den has a Murphy bed, a four-piece bathroom, and a laundry closet with stacked appliances.
Monthly fees of $318 include utilities.
The agent’s take
The recessed den has a Murphy bed.Re/Max Hallmark Realty Ltd.
“It’s geared to one person, but if you’re sitting in the living room, you can’t see the bedroom,” said Ms. Ing-Gilbert.
“It’s a great building with tennis courts and a pool; it’s like Club Med in there.”