In Toronto’s shifting real estate market, where sales have slowed and competition for buyers is fierce, certain properties continue to defy the odds. Over the past four months, select homes have sold over their asking prices, leaving many wondering—what makes these properties irresistible?
The answer lies in a combination of location, design appeal, and strategic pricing. Let’s explore some recent examples and the lessons they offer to homeowners.
1. The Power of Location: A Riverside Gem
Sold for: $1,120,000 (Listed at $999,000). Riverside in South Riverdale area has long been a favorite for buyers seeking a blend of urban charm and family-friendly vibes. A semi-detached, 2+1 bedroom home on a quiet street sold for 12% over asking.
Why It Stood Out:
Proximity: Steps from Queen Street East, offering access to trendy cafes, shops, and transit.
Walkability: Located near schools, parks, and bike trails, perfect for young families.
Takeaway for Sellers: Buyers value location as much as the property itself. If your home sits in a sought-after neighbourhood, highlight its conveniences in your marketing.
2. Design That Delivers: A Contemporary Townhome in West Scarborough
Sold for: $960,000 (Listed at $899,000). This West Scarborough townhome showcased a perfect blend of modern updates and practical layout. The property’s clean, cohesive design and excellent use of space drew multiple offers.
Why It Stood Out:
Interior Design: Updated with hardwood floors, neutral tones, and energy-efficient lighting.
Curb Appeal: A sleek exterior with fresh paint, a new front door, and minimal landscaping improvements made a lasting first impression.
Takeaway for Sellers: A little investment in curb appeal and interior updates can significantly enhance your home’s desirability, even in a slow market.
3. Priced to Move: A Detached Home in North York
Sold for: $1,320,000 (Listed at $1,188,000). This spacious North York home, featuring four bedrooms and a large backyard, was strategically priced to generate buyer interest.
Why It Stood Out:
Competitive Pricing: The asking price was intentionally set slightly below market value to attract multiple buyers, creating a bidding war.
Upgrades: While not ultra-modern, the home boasted a renovated kitchen and finished basement—big selling points for families.
Takeaway for Sellers: Pricing correctly is crucial in a challenging market. Working with an experienced realtor to analyze comparable sales can help you position your home competitively.
Lessons for Sellers in a Weak Market
Even when the market seems unfavorable, certain homes rise above. These examples highlight three critical factors that helped sellers achieve over-asking results:
Location Matters: Buyers are still willing to pay a premium for homes in desirable areas.
Design and Presentation: A home that looks move-in ready is far more appealing than one requiring immediate work.
The Right Price: Strategic pricing can create buzz and drive offers, even in a slower market.
Maximize Your Sale
For homeowners preparing to list their property, these stories provide actionable insights. Collaborate with a realtor to craft a selling strategy that emphasizes your home’s strengths—be it location, upgrades, or pricing—and increase your chances of achieving a standout sale, even in a challenging market.
Why Interior Design Sells: Decorating Trends That Attract Buyers
In today’s market, home design plays a critical role in making a property stand out. Buyers gravitate toward homes that feel fresh, stylish, and ready to move in. Here are some trends that were instrumental in selling over-asking properties:
1. Neutral and Minimalistic Palettes
Homes with neutral tones—think whites, soft grays, and beiges—create a blank canvas for buyers to imagine their own décor. This approach was a key factor in the success of the West Scarborough townhome, which used cohesive color schemes to maximize space and light.
Pro Tip for Sellers: Repaint rooms in neutral shades to appeal to a wider audience.
2. Thoughtful Layouts and Functional Spaces
The Riverside semi-detached home featured an open-concept living and dining area, maximizing natural light and functionality. Buyers are drawn to homes that adapt easily to modern lifestyles, such as work-from-home setups or family-friendly layouts.
Pro Tip for Sellers: Stage a spare room as an office or gym to show its potential.
3. High-Impact Updates in Kitchens and Bathrooms
The North York detached home featured a partially renovated kitchen with energy-efficient appliances, sleek cabinetry, and a subway tile backsplash. Bathrooms were upgraded with modern fixtures, frameless glass shower doors, and new lighting.
Pro Tip for Sellers: A modest investment in these spaces, such as replacing cabinet handles, faucets, or lighting, can yield substantial returns.
4. Natural and Sustainable Materials
Buyers are increasingly drawn to eco-conscious homes. Hardwood flooring, stone countertops, and reclaimed wood accents are in high demand. The West Scarborough townhome made use of these materials to exude quality and style.
Pro Tip for Sellers: Highlight any sustainable or energy-efficient upgrades in your home’s listing.
Working with Donald
Donald's real estate practice began in 2013, buying, selling and leasing residential and commercial properties across the Greater Toronto Area and the province of Ontario. Working closely with buyers, sellers, and landlords, Donald combines a decade+ of experience, attention to detail, fully bilingual service, and strategy, with a sunny, practical disposition. Clients respond very positively to his full-service approach to real estate transactions, where his clients' satisfaction matters most.
Call or Text Donald Bilodeau, Mr. Real Estate Toronto, at 416-476-3554 or send me an email at donald@donaldbilodeau.com. I want to work with you!
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