Last week, I posted this 3 bedroom, 2 bathroom semi with a 2 car garage on an 18.83 x 121.17 foot lot at 7 Hendrick Avenue in the Wychwood/Hillcrest neighbourhood of Toronto.

It was a move-in-ready house despite the only apparent changes from the last sale in 2013 being the floors on the second floor and some paint.

In 2013, it was listed at $749,000 and sold for $902,000.

In that post, I mentioned that at an annual 10% increase, the price would now be $1,385,000. But that was based on 4.5 years. It is actually 5.5 years since the last sale and so the price at 10% should have been $1,525,000.

It was listed at $1,099,000 so, whether 4.5 or 5.5 years since the last sale, it looked like they were hoping for a bidding war. And according to a reader, they got it.

After an apparent 17 offers, this place sold for…

$1,400,000.

Or about an 8.2% increase.