Two-storey family home in North York sets precedent by selling for $700K over asking

Five-bedroom house on Mossgrove Trail breaks into new price territory for area


Published:

This Mossgrove Trail property was only on the market for seven days

List price: $2.295 million
Selling price: $3.008 million
Days on market: 7

Mark Aliassa, a realtor with Harvey Kalles Real Estate, chats with Post City about 32 Mossgrove Trail. 

Did you expect such a dramatic price increase?
It was very surprising, and with most of the sales I do, especially with the market now, every new price you get seems to be the new record price. But in this case, I believe the last two to sell in the area that were comparable were somewhere around 2.2 or 2.3 million, so taking into consideration the time factor, I thought it would be around 2.7 million, but of course it went much higher than that.

Are there a lot of foreign buyers in this area?
I specialize in the York Mills area. I would say that right now somewhere around 70 or 80 per cent of my buyers are Asian, mostly Chinese or Korean.

Selling points
I would say the home’s location and the fact that it was pretty much entry level for the area were the big selling points. The actual home itself was renovated, totally redone by the previous owners.  

Neighbourhood
In this neighbourhood, you have access to all the shops. It’s right by the 401, and it’s very central, which is attractive to buyers.

What went down?
I believe we had about five offers. They were pretty much mostly foreign buyers. We had mostly Asians and I think a couple of Iranians. We were expecting to hit somewhere around 2.7 or 2.8 million, but we ended up going over 3 million. We went back and forth for a few rounds, about three or four rounds.… In this case, it was the person with the lowest initial offer who ended up with the highest offer.

Edit Module

Join the conversation and have your say by commenting below. Our comment system uses a Facebook plugin. Please note that you'll have to turn off some ad-blockers in order to see the comments.

Edit Module

Follow us on Twitter @PostCity for more on what to eat, where to shop and what to do in Toronto.

Edit ModuleShow Tags

You may also like...

The great indoors

The great indoors

Posted 7 hours ago
Toronto's venerable Cowboy Junkies hit Massey Hall

Toronto's venerable Cowboy Junkies hit Massey Hall

The Cowboy Junkies have quietly become one of the most important bands to come out of Toronto, and more than three decades deep they continue to turn gorgeously crafted albums that speak of the times in a way that is unique. Their latest, All That Reckoning, proves the band still has a lot to say. But it took some time to get there.
Posted 2 days ago
Confessions of a Lawrence Park shopping expert

Confessions of a Lawrence Park shopping expert

Posted 3 days ago
Outdoor spaces that evolve as our families mature

Outdoor spaces that evolve as our families mature

Posted 1 week ago
Edit Module
Edit ModuleShow Tags
Edit ModuleEdit Module