Royal LePage Signature Realty
215 Queen St., E., No. 216., Brampton, Ont.
Asking price: $529,000 (September, 2023)
Previous asking price: $399,999 (August, 2023)
Selling price: $513,000 (September, 2023)
Previous selling prices: $455,000 (April, 2021); $390,000 (August, 2019); $248,000 (June, 2016); $230,500 (July, 2012); $180,425 (December, 2010)
Taxes: $2,317 (2022)
Property days on market: 19
Listing agents: Elias Ben Khelifa and Munira Ravji, Royal LePage Signature Realty
The 13-year-old unit has a two-storey design with a wall of windows and a glass-lined staircase beside the principal room below, which is outfitted with a fireplace and balcony doors.Royal LePage Signature Realty
The action
The owner of this 684-square-foot condo in a pedestrian-friendly area of Brampton priced it less than $400,000 and had it professionally staged to attract multiple offers. Six bidders came forward, but none could be coaxed into an offer close to $500,000.
“It was a buyer’s market at that time,” said agent Munira Ravji. “Just because you have an offer night and a lot of offers, it doesn’t always result in what you want.
“Our client walked away from all the offers, which were ranging from below $399,000 all the way to the high $400,000s.”
A new double-edged strategy was employed; an increase to the asking price while simultaneously posting it for lease at $2,500 a month. One buyer was intrigued, and after three on-site tours, submitted a written offer for $16,000 under the list price, which was accepted.
“When it’s first-time homebuyers, they’re so nervous about making the wrong choice,” Ms. Ravji said. “In this case, he felt satisfied with seeing it a [few] times first.
“Buyers are getting good prices and prices that might be undermarket. But there’s a general understanding that they’re also paying higher interest rates.”
The kitchen has stainless steel appliances, while the condo has two bathrooms and laundry machines.Royal LePage Signature Realty
What they got
This 13-year-old unit has a two-storey design with a wall of windows and a glass-lined staircase connecting the bedroom upstairs to the principal room below, outfitted with a fireplace and balcony doors.
The kitchen has stainless-steel appliances. There are two bathrooms and laundry machines.
A storage locker and parking come with the package. Monthly fees of $647 pay for water, heating, concierge and recreational amenities.
The second floor bedroom boasts plenty of natural light through a large window.Royal LePage Signature Realty
The agent’s take
“This is a very unique property,” Ms. Ravji said. “It’s a two-level loft in a newish building.”
“It showed so beautifully, and it had a huge balcony, which was another thing people liked and was pretty rare.”