That’s right. A bungalow in north Toronto sold earlier this month for $421,800 over the asking price. The home was listed at $759,000 and sold in multiple offers for a whopping $1,180,800.
According to an article from today’s CBC News (reposted in full, below), there were a total of five bids above $1 million dollars. This tells us that the successful purchaser wasn’t alone in their seven figure valuation of the property.
Needless to say, there’s been plenty of attention from the media, realtors, and the home buying public over the last few weeks.
The price isn’t the only reason this story is generating so much hoopla though. The location and style of the home are notable as well.
Remember, we’re talking about a bungalow… in north Toronto…
Would the reaction have been as strong if this was a 3-storey detached in The Beach? Or a mansion in the Annex?
Or what about Queen West? A colleague of mine just listed a stunning million dollar property there. I popped into the agent’s open house today and the place really is impressive – something right out of Architectural Digest. Now that is the kind of property (and location) that could sell for a significant price without all the accompanying hullabaloo.
Okay, we’ve looked at price, location, and style of home. From what other angle can we view this north-Toronto bungalow sale? How about the type of buyer involved in the purchase? That’s the focus of today’s CBC News article. Check it out…
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On December 28th, the folks over at 
