RealMedia
20 Edgecliffe Golfway, No. 606, Toronto
Asking price: $599,900 (June, 2024)
Previous asking prices: $629,900 (May, 2024); $649,900 (April, 2024)
Selling price: $595,000 (June 2024)
Previous selling prices: $165,000 (June, 2006); $111,500 (August, 1992)
Taxes: $1,679 (2023)
Property days on market: 58
Listing agents: Jenelle Cameron and Lesli Pearson, Re/Max Hallmark Realty Ltd.
This suite in a roughly 50-year-old building has 1,140 square feet of living space.RealMedia
The suite offers open living and dining areas.RealMedia
The action
This three-bedroom suite is in a high-rise building overlooking the Flemingdon Park Golf Club and the Don River, but there were numerous competing units in the building for sale this spring and all had trouble finding interested buyers. This suite started off priced just under $650,000 but failed to spark any interest and a drop to $629,900 after Victoria Day also did little to change the situation.
“It was the slowest time we’ve had in real estate so far,” said agent Jenelle Cameron.
“There were a number of units … that weren’t moving, all around $639,000 to $649,000, said Ms. Cameron. “I thought we’d need to come in under that.”
In June, a cut in the asking price to $599,900 finally managed to entice two buyers to make offers. Further negotiations culminated in the seller agreeing to another $4,900 drop in the price to secure a deal with an August 15 close.
“I ended up getting two offers at the same time, but it still went under,” said Ms. Cameron.
“A lot of sellers won’t budge on their prices, so they don’t sell.
“I’m not sure the point of that. No one’s finding this fun.”
The unit also includes a south-facing balcony.RealMedia
What they got
This suite in a roughly 50-year-old building has 1,140 square feet of living space, including open living and dining areas, plus a south-facing balcony.
New laundry machines were recently installed, and the two bathrooms and eat-in kitchen have been renovated.
The unit comes with a storage locker and parking. Monthly fees of $822 pay for utilities and use of a gym and pool in an adjacent building.
The eat-in kitchen had been renovated.RealMedia
The unit at 20 Edgecliffe Golfway was an affordable three-bedroom option in the city.RealMedia
The agent’s take
“For anybody who wanted a three-bedroom condo, there aren’t a lot of options out there that aren’t millions of dollars,” said Ms. Cameron.
“It’s a lot of space and a well-managed building.
“The kitchen had also been redone a couple of years ago, but prior to selling, it had new floors and fresh paint. There were so many nice features to it.”