PRICE DROP - 30 Gibson Avenue - SUMMERHILL (1 Comment)
On Monday, I posted this 4 bedroom (it was really 3+1), 5 bathroom semi-row house with 1 parking spot on an 18.5 x 88.41 foot lot at 30 Gibson Avenue in Summerhill.
It was a flip of house that used to look like this when I posted it in February 2015...
It was listed at $1,395,000 and sold for $1,586,000.
Six months later, with no changes, it was back on the market for $1,795,000. The price was dropped a 3 months later to $1,779,000 and I think it sold around that asking price.
It was then flipped and was back on the market at the end of January. The asking price was $2,780,000.
Considering the house across the street at 3 Gibson Avenue had recently been listed at $2,689,000 and sold for $2,755,000...
This price was probably about right.
Except 3 Gibson had an extra bathroom and bedroom and the style probably had a broader appeal.
Plus, though I do think this house was done well, the island in the kitchen drove me crazy...
And with that island, at this price, that stove really should have had a wall faucet...
Because of that and the fact that this house had already been on the market for a few weeks, I suspected there would be a price drop soon.
Two days later, the price was dropped (and the listing was edited to say 3+1 bedrooms instead of 4).
The new asking price is...
$2,749,000.
Not sure a 1% drop will do much.
