Land value drives nine bids for 1950s Don Mills home

83 Larkfield Dr., Toronto

Asking price: $1,995,000 (August, 2022)

Selling price: $2,230,000 (August, 2022)

Taxes: $9,618 (2022)

Days on the market: Two

Listing agent: Elli Davis, Sotheby’s International Realty Canada

The action

Over two days, this three-bedroom house on a roughly 67- by 119-foot lot was nearly overrun with 35 buyers all seeking a large property in Don Mills.

“The phone was constantly ringing from agents and buyers interested, mainly because of the lot size and location,” agent Elli Davis said.

“I didn’t expect as much activity as we had … with all the concerns about interest rates and the economy.”

By day two on the market, nine offers had come in. “There had been a recent sale close by in the same price range for what this sold for. Some buyers had bid on that one and lost, so they came over to mine,” Ms. Davis said.

“It shows you there is still demand out there and buyers are still out there, so it’s a positive sale because it showed not everyone has their hands in their pockets.”

What they got

This brick house has a split-level design typical of Don Mills, one of the first master-planned communities in Ontario with most homes built in the 1950s and early 1960s.

The eat-in kitchen features an island and tile finishes. The living and dining area has sliding doors to a patio and an in-ground pool.

At the other end of the house, the upper level is divided up for three bedrooms, one of which has a walk-in closet. Directly below on the lower level, there is a recreation area and a second bathroom.

The agent’s take

“It’s an older house, but could be livable, however most people were interested in the land,” Ms. Davis said.

“There is a lot of new construction on the street and in the area.”

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