New Toronto building sold for $ 813,000 above demand (PHOTOS)

Aspiring home buyers in Toronto are hungry for almost any kind of property, so when a newly built multi-bedroom house comes on the market, it’s not so surprising that it goes over asking.

Larger properties are in high demand right now and a home in Scarborough was recently sold shockingly over demand. Located at 171 Scarborough Street, the seven-bedroom, five-bathroom Toronto home came on the market for $ 3,999,999 and was sold a week later for $ 4,813,000- $ 813,001 above demand.

toronto newly built house sold over asks

Royal LePage Real Estate Agency

Royal LePage Real Estate Agency

The house was a brand new building and replaced a dated home with four bedrooms and three bathrooms on the property. The sellers picked up the old house in 2019 for $ 1,750,000 – about $ 3 million less than they ended up selling the new building for.

toronto newly built house sold over asks

Royal LePage Real Estate Agency

toronto newly built house sold over asks

Royal LePage Real Estate Agency

The demolition and remodeling not only added more bedrooms and bathrooms, but gave the property a new modern look and an open floor plan. As the list goes, “the design is on point.”

Royal LePage Real Estate Agency

There is a large kitchen with a dining island, a formal dining room, an open living room and a sun lounge. The five bedrooms upstairs are light and airy, and down in the finished basement where the other two bedrooms are, there is home gym, another living room and a large wine cellar.

toronto newly built house sold over asks

Royal LePage Real Estate Agency

Royal LePage Real Estate Agency

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toronto newly built house sold over asks

Royal LePage Real Estate Agency

Outside there is a large backyard with a large grass area and a cozy back deck that would no doubt be used in the warmer seasons.

Royal LePage Real Estate Agency

Royal LePage Real Estate Agency

The price of the house may be more than most people want to pay, but there is no doubt that it is a beautiful home.

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