“The fact that a house like this – with offers at any time – went into multiples, fell through and sold for more, is a really unique story for that time,” said co-listing agent Munira Ravji.

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6 Archerhill Dr., Toronto

Asking price: $1,249,900 (December, 2022)

Selling price: $1,245,000 (December, 2022)

Taxes: $4,161 (2022)

Days on the market: Seven

Listing agents: Elias Ben Khelifa, Munira Ravji and Lorena Sabatino, Royal LePage Signature Realty

The Action

December was a tough time to list this three-bedroom bungalow with winter holidays and another rate hike in the offing. Nevertheless, nearly 20 prospective buyers came out to mull an opportunity to buy a property in a community-oriented neighbourhood.

“Fifty percent of buyers were families coming in, and we did have some who were looking to purchase to rent it out or create a basement apartment,” said agent Lorena Sabatino.

“Considering how low inventory was and how much action we got, it was a great sale.”

The sellers received two offers and chose the one they thought best, but the promised deposit never materialized. Previous visitors were notified, and a better bid came in $4,900 shy of the asking price.

“The fact that a house like this – with offers at any time – went into multiples, fell through and sold for more, is a really unique story for that time,” said co-listing agent Munira Ravji.

“Everyone thinks sellers are so desperate and buyers are going to get a deal, but if it’s a great home in a great neighbourhood … it doesn’t matter what market we’re in, we’ll be able to do well with these homes.”

What they got

This roughly 60-year-old house with an attached garage occupies a 46- by 127-foot lot.

It has an eat-in kitchen and a separate living and dining area with an electric fireplace.

The basement contains two guest rooms and a recreation area, plus a second bathroom and side entrance.

The Agents take

“It’s a pretty standard bungalow in the community, and the lot size was fair as well,” Ms. Sabatino said.

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https://www.theglobeandmail.com/real-estate/toronto/article-third-bid-takes-bungalow-after-earlier-accepted-offer-falls-through/