Real Estate: $445 K below asking, a ‘sold’ sign of the times?

Large Forest Hill family home still easily cracks $3.5 million


Published:

89 Dunloe Rd., across from Forest Hill Collegiate Institute

List price: $3.9955 million
Selling price: $3.550 million
Days on market: 33
History: Sold for $765,000 in 2000

Roman Gofman, a realtor with Forest Hill Real Estate Inc., talks to Post City about 89 Dunloe Rd.

Selling points
Well people were attracted to the fact that it is sort of a big house. It has four bedrooms plus one in the basement with a gym, and it is basically move-in condition. It was extensively renovated and refreshed three years ago. Move in and enjoy — really nothing to do. There is a detached full two-car garage, also an immaculate and gated backyard. Some people say it is a negative to be across from a school, but here you are right across from one of the best schools in Toronto — Forest Hill Collegiate.

Neighbourhood
First of all, it is south Forest Hill. And number two, it’s on the east side of Spadina Road, which is considered in Forest Hill to be more prestigious than the west side. There are lots of parks, the walk score is amazing. You can walk to the subway, to the village, and it’s near the Belt Line [recreational trail]. And it’s surrounded by multimillion-dollar homes, major mansions. 

What went down?
We didn’t hold offers back. We just priced it to sell, and it sold for a little bit less than asking price. The reason being, the people are moving to Florida. The husband sold his Toronto business to a company in Florida, and that company invited him to come down and run it.

Who purchased the home?
A family: a husband and wife and one child, who goes to the high school.

Are detached homes sitting longer on the market?
Yeah, a little, like very slightly. It is nothing major by any measure. I found that luxury markets you can’t really control. People want, people do, people pay. 

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Ron Johnson is the editor of Post City Magazines. Follow him on Twitter @TheRonJohnson.

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