This detached Toronto home with a million-dollar price tag has been on the market for over 60 days

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This detached Toronto home with a million-dollar price tag has been on the market for over 60 days. For GTAHomeHunt, the Star speaks to, realtor Othneil Litchmore, to gain a better understanding of the listing.

Accompanying the three bedrooms and two bathrooms is a fully finished basement with its own private entrance.

Access to public transportation routes is about five minutes away, and the home is close to the upcoming Eglinton LRT.Why is it priced this way?average GTA home topping $1.3 million as of February this yearSitting on the market for more than 58 days at its current $1,000,000 price tag, 23 Lambton Avenue was first listed for $200,000 less in April 2019, at $849,000. The listing was removed several months later in June, and was relisted on the same day at an even lower price point of $829,900.

The house resurfaced on the market two years after the start of the pandemic on March 2022, with a new price tag of $1,229,999. Litchmore doesn’t think it’s a strategy, but merely a result of bad timing. “It's about presentability and like, helping the buyer envision themselves there. If it all looks like somebody else's belonging, you can't really get a picture, you can't see past it. It's very hard. So, it's a psychological,” explains Litchmore.

“This family didn't want to get staging because they don't want to remove all their stuff,” said Sekhon.

 

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Hmmm...perhaps it's overpriced.

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