In the midst of Toronto’s competitive real estate market, a High Park property recently sold for $3.7-million in just 10 days, signaling the robust demand for upscale homes in the area. This four-bedroom residence, located on Hewitt Avenue, hit the market in August 2024, and with nearly 20 potential buyers inspecting the property, it quickly found a new owner.
A Hot Market for Luxury Homes
The decision to list the property ahead of schedule was spurred by the intense demand for high-end properties in High Park. According to the listing agent, Nigel Denham of Sotheby’s International Realty Canada, this strategic move allowed the sellers to capitalize on a lack of competitive inventory in the area. “The complete lack of competitive inventory is why we decided to list [in August] as opposed to waiting until after Labour Day,” Denham explained. “We had 18 showings in 10 days and thought that was a good amount of activity for a nearly $4-million house.”
The last property sold in this upscale neighborhood went for $3.8-million earlier in the summer, and this latest sale reflects continued buyer interest, especially for properties with standout features like this one.
A Masterpiece of Design and Functionality
The property boasts 2,733 square feet spread over three levels, offering spacious and luxurious living. The main floor is a showstopper, featuring a recent renovation by renowned designer Melanie Hay, who left no detail overlooked. The home features a beautifully designed kitchen with a marble-topped island, custom banquette seating, and multiple arched entryways, creating an inviting and functional space. The dining room has also been freshly renovated, while the sunken family room offers a cozy ambiance with a fireplace and sliding doors leading to a south-facing deck.
The backyard is perfect for entertaining, complete with a pool and hot tub, a rarity in this neighborhood where tight lots often limit such amenities. “It had a pool, which is hard to get in that neck of the woods because the lots are tighter generally,” Denham noted. These luxurious touches, combined with top-tier renovations, made the property a prime offering in an already desirable location.
Location and Lifestyle
Situated on a 28- by 155-foot lot, this High Park property offers more than just a beautiful home—it also boasts an enviable location. High Park, one of Toronto’s largest green spaces, is just a short walk away, offering trails, playgrounds, and plenty of nature. The property is also close to the vibrant Roncesvalles Village, known for its boutique shops, diverse restaurants, and community feel. Families are drawn to the area not only for its amenities but also for the highly rated local schools.
“It’s a great location,” Denham said. “It’s a short stroll to all the wonderful shops and restaurants along Roncesvalles, but you’re also reasonably close to High Park, which is a big draw for the area and great schools.”
The Numbers Behind the Sale
This home’s sale also highlights the remarkable appreciation in Toronto’s luxury real estate market. Purchased for $1.81-million in 2017, the property more than doubled in value in just seven years. Prior to that, it was sold for $770,000 in 2003, showcasing the long-term investment potential of properties in this prestigious neighborhood.
With an asking price of $3.85-million, the home sold for $3.7-million, just $150,000 below the listed price, demonstrating the strong buyer interest despite the property’s high price point. Annual property taxes for the home were $11,166 in 2023, making it a significant investment, but one that offers luxurious living in one of Toronto’s most sought-after areas.
Conclusion
This sale is yet another example of how Toronto’s high-end real estate market continues to thrive, particularly in areas like High Park where demand consistently outstrips supply. With its luxurious design, prime location, and strong market performance, this property satisfied the hunger for upscale homes in one of Toronto’s most coveted neighborhoods.
