What It Went For

Condo owner asked $598,000, condo owner got $620,000

Markham

39 Galleria Pkwy. #605 (Highway 7 and Leslie Street)

Asking price: $598,000 Sold for: $620,000 Taxes: $2,608 (2019) Monthly fee: $620 Bedrooms: 2 Bathrooms: 2 Square footage: more than 1,035 Garage: 1 Parking: 0

Days on the market: 1

Suite 605 was listed in the morning and had three showings booked for that afternoon. By evening it sold for $ 22,000 more than the asking price.

Listing agent Loretta Phinney says most of the two- bedroom, two- bathroom units with one parking spot that recently sold at 37 and 39 Galleria Pkwy., were listed in the high $ 500,000 to $ 600,000 range. “Our intention was to list for $ 598,000 and get as close to that number as possible,” she says.

“A few days prior to getting the suite on the market, an identical unit sold with multiple offers. It was listed for $ 585,000 and sold for $ 620,000. We knew that by listing at $ 598,000 there would be a lot of interest and we were hoping to attract buyers who lost out on the previous sale.”

That’s just what happened. A firm offer with a “healthy deposit” and a quick closing date that worked for the seller was received. “The buyer had put in an offer on the other unit that had sold earlier in the week and had lost it. The seller was very pleased with the outcome of the sale.”

Suite 605 is a spacious corner unit with what Phinney describes as a functional layout, plenty of large windows and south and east exposures “that makes it feel bright and airy.”

The building was constructed in 2007. The last time this unit was on the market was in 2013. It sold at that time for $375,000.

Prior to listing, the seller, who moved to a house earlier in the summer, had the suite painted and installed new flooring in the master bedroom.

The more than 1,035- square- foot unit has a centre island and a breakfast bar in the kitchen, a walkout to a balcony from the living/ dining room, and a double closet with a four- piece ensuite in the master suite.

Building amenities include a 24- hour concierge, a guest suite, media/party rooms, a sauna and, for those who want to stay fit, a gym and a pool.

The building has a wide range of occupants from young first- time homeowners to retirees.

Listing Broker: Royal Lepage Real Estate Services (Loretta Phinney)