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...

Work Out with Monika: Getting all fired up to race dragon boats on the lake

Work Out with Monika: Getting all fired up to race dragon boats on the lake

A dragon boat consists of 20 paddlers sitting two abreast in a boat with a cox who steers at the rear and a drummer who sets the pace at the front. It is a popular team sport and Sunnyside Paddling Club is the largest dragon boat club in North America, with over 125 teams and 2,500 paddlers.
Posted 13 hours ago
Stintz on Midtown: The case for turning the bus bays at Yonge and Eglinton into a green space

Stintz on Midtown: The case for turning the bus bays at Yonge and Eglinton into a green space

In North Toronto, the availability of park space is woefully scarce. The ravine systems are beautiful but not maintained, Eglinton Park is busy day and night, and there is no other park that is similar in size and available to the community.
Posted 14 hours ago
Parent Hacks: The top four questions to answer before sending your children off for the summer

Parent Hacks: The top four questions to answer before sending your children off for the summer

As a mom of four and a veteran of sending kids to overnight camp, I often get asked the following questions from parents who are thinking about a week, two weeks, even a month of camp for their kids.
Posted 18 hours ago
Turns out comics can be funny and sober, who knew?

Turns out comics can be funny and sober, who knew?

Of course; I had snorted six long lines of cocaine just before I stepped onstage.
Posted 18 hours ago
Edit Module
Edit ModuleShow Tags
Edit ModuleEdit Module