Price reduction on Summerhill townhouse uncorks three offers

DONE DEAL Price reduction on Summerhill townhouse uncorks three offers SYDNIA YU TORONTO SPECIAL TO THE GLOBE AND MAIL PUBLISHED 51 MINUTES AGO Open this photo in gallery: The three-storey home was built in 1980 on the site of a former bakery. CHESTNUT PARK REAL ESTATE LTD. COMMENTS SHARE SAVE FOR LATER 60 Alcorn Ave., Toronto Asking price: $1,999,995 (June, 2026) Previous asking price: $2.15-million (June, 2026) Selling price: $1,975,000 (June, 2026) Previous selling prices: $1,005,000 (June, 2011); $667,000 (February, 2004); $717,900 (August, 2003); $419,000 (November, 1996) Taxes: $9,901 (2025) Days on the market: Three Property days on market: 24 Listing agents: Debbie Penzo and Graeme McIntosh, Chestnut Park Real Estate Ltd. Open this photo in gallery: The living room has a gas fireplace and 17-foot ceilings. CHESTNUT PARK REAL ESTATE LTD. The action This three-bedroom townhouse in Summerhill west of Yonge Street is only 250 metres from Cottingham Junior Public School. Listed for sale in June, it became a popular stop for house hunters. “We had lots of open houses and lots of people through,” said agent Graeme McIntosh. “[For homes] east of Yonge, kids have to cross Yonge Street to get to the school and parks, whereas if they were here, west of Yonge, you’re already on the other side of the busy street.” After three weeks with no offers, the asking price on the freehold property was reduced by $150,005. Within days, the owners received three bids. “My team, with the seller, discussed this price improvement strategy and it generated immediate momentum with 13 showings in three days, which resulted in three competitive offers,” Mr. McIntosh said. “One buyer’s agent told me they were looking up to $2-million, and when we were priced at $2.15-million, it wasn’t in their range.” Open this photo in gallery: There is an eat-in kitchen and a dining area. CHESTNUT PARK REAL ESTATE LTD. What they got This three-storey townhouse was built in 1980 on the site of a former bakery. It has a street-level entrance with heated steps and a built-in garage facing a lane behind the 14- by 76-foot lot. There is an eat-in kitchen and a dining area, as well as a living room with a gas fireplace, 17-foot ceilings and access to a terrace. A smaller deck is on the third floor. Bathrooms are on each level, including the basement. Open this photo in gallery: CHESTNUT PARK REAL ESTATE LTD. The agent’s take “These are called The Bakery Townhomes, and…