4-Bed Roncesvalles Semi Sells for $650K Over Asking in Just 8 Hours

Dated: April 6 2021

Views: 197


A semi-detached home in Toronto’s coveted Roncesvalles neighbourhood that received multiple offers — including two bully offers — sold for more than $650,000 above asking in just eight hours is a sign of the sky-rocketing prices that sellers are getting for homes in Toronto’s overheating market.

The 2-storey home exudes heritage, character, and charm and as soon as you step inside you’ll swoon over the original wainscotting, coffered ceilings, two fireplaces, and stained glass windows. 

Perfect for a family, the home has four oversized bedrooms and two bathrooms — one even has an original clawfoot tub. There’s also a fully finished basement with a separate entrance that could serve as a potential nanny suite. Beyond the home, you’ll find a large, freshly landscaped backyard with parking for two vehicles.


Sadly, sales like this shouldn’t be all that surprising anymore, as buyers are in bidding wars all over the Greater Toronto Area (GTA), snapping up homes almost as soon as they hit the market — especially in the Roncesvalles neighbourhood. 

Just last month, a detached Roncesvalles home sold for nearly 50% over asking on its first day on the market. Located in the coveted west end neighbourhood, the home was listed for $1,498,000 and sold for a cool $2,200,000. (Yes, that’s a $702,000 difference or 46.8% over list).

This comes as Toronto’s housing market was rated as highly vulnerable to instability, according to The Canadian Mortgage and Housing Corporation’s (CMHC) latest housing market assessment report.

“While the pandemic has impacted lower wage paying sectors and the rental market, homeownership demand has continued to grow and defy expectations,” says Dana Senagama, Senior Specialist, Market Insights, in regards to Toronto’s housing market.

With the latest local housing stats to be released this week, we can only imagine these numbers will get higher.

To view the complete article, please visit:  https://storeys.com/134-pearson-roncesvalles-sold-650k-over-asking/

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