AND IT WENT FOR - 125 Macpherson Avenue - SUMMERHILL

This house has been listed for a LONG time.

It is a 2+1 bedroom, 4 bathroom semi on an 18.75 x 120 foot lot at 125 Macpherson Avenue in Summerhill and it was listed last March.

Though it had an extensive renovation with an addition and a terrific wall of glass at the back, I thought the asking price of $2,195,000 was kind of crazy.

I thought it was more of a $1.66...maybe even $1.75 house.

It didn't sell and the price was dropped tp $2,095,000 at the end of April.

By June, the price was dropped to $1,995,000.  I thought we would see another price drop soon but we didn't see one until September.

The price was dropped to $1,895,000.  I thought it was time to start writing up the price drop #4 post!

But even though there WAS a fourth price drop, I missed it.

Two weeks ago, the price was dropped a 4th time to $1,879,000.

It has finally sold...

For $1,820,000.

So....what is 10% (the rate I feel the market has been growing annually) on top of my $1,660,000 guess last March?

It's $1,826,000.

So...considering the costs to keep the house for a full year are WAY less than $166,000...

This whole year long wait may have been a good thing for the seller after all!!!