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June 27th, 2025Olea in the News
Globe and Mail Article: Townhouse price see-saws before snagging two offers
Agent Elias Ben Khelifa tried numerous tactics to lure buyers to this three-bedroom townhouse near the Pam McConnell Aquatic Centre in Regent Park. The asking price zigzagged from $999,999 in March, then up to $1,149,000, then down to $899,900 in mid-April. There was a steady stream of visitors, but no offers.
“We were averaging 15 to 20 visitors at each open house,” Mr. Khelifa said.
This three-bedroom townhouse has direct-access parking below. Engel & Völkers Toronto City
Listing agent: Elias Ben Khelifa, Engel & Völkers Toronto City
The 1,349-square-foot unit is part of a 14-year-old, stacked townhouse complex. Engel & Völkers Toronto City
The Action
There’s a street-level entrance and a rear terrace off the kitchen. Engel & Völkers Toronto City
Agent Elias Ben Khelifa tried numerous tactics to lure buyers to this three-bedroom townhouse near the Pam McConnell Aquatic Centre in Regent Park. The asking price zigzagged from $999,999 in March, then up to $1,149,000, then down to $899,900 in mid-April. There was a steady stream of visitors, but no offers.
“We were averaging 15 to 20 visitors at each open house,” Mr. Khelifa said.
“A lot of them had hesitancy and uncertainty economically, talking about tariffs creating market instability.”
About a week before Easter, the new price under $900,000 spawning two bids and an offer of $1.06-million was accepted.
“It was an unconditional offer, so the sellers were willing to take a little less than market value,” Mr. Khelifa said.
“The sellers had been in the home for almost ten years, so they still had equity.”
What they got
Hardwood flooring covers the principal rooms and the bedrooms upstairs. Engel & Völkers Toronto City
This 1,349-square-foot unit is part of a 14-year-old, stacked townhouse complex. It has a street-level entrance, a rear terrace off the kitchen and a garage directly below.
Hardwood flooring covers the principal rooms and the bedrooms upstairs. A laundry room and two of the three bathrooms are also on the second floor.
Monthly condominiumfees are $471.
The Agents take
Monthly condominium fees are $471. Engel & Völkers Toronto City
“A lot of three-storey townhomes have similar square footage, but they feel tighter because there’s less area per floor,” Mr. Khelifa said.
“You had a private garage with direct access, so it was part of your home as opposed to having a parking spot in an underground garage.”
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