Unit in converted mansion ‘didn’t achieve multiple offers after one week’, sells for $718,000
The 686 square-foot unit is part of a heritage conversion from 1997; the building was originally a mansion.The seller-occupant purchased the unit in 2011 for $402,000. More than 20 groups viewed the property and agent Paul Albrighton received one offer. He believes that the buyer plans to live in the unit.
“It didn’t achieve multiple offers after one week, which is a more common trend we are seeing on smaller condos,” Mr. Albrighton said.The 686 square-foot unit in Fairview, near Broadway, is part of a heritage conversion from 1997. The Bollert Place building had originally been a mansion before it was converted into 29 condos, and there is little resemblance to the former old-world exterior.
The owner-occupant of the two-bedroom, one-bathroom condo renovated the kitchen, added new floors, updated the fireplace and lighting. Rental is restricted to three units in the building.Re/Max Crest Realty“We are seeing more places sold at, or near asking, as asking prices have recently increased. Also, some increased interest rates are affecting some buyers,” Mr. Albrighton said. “And much needed inventory of condos is also becoming more available.
“Market conditions are still good, and listings are selling between one and five weeks. But overall, the market pace is slightly slower than we saw in late 2021 or earlier this year.”to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.
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