That was fast — a nondescript GTA home changed hands twice in the span of a week and appears to have netted the sellers some serious coin.
The detached house at 2 Charing Drive in suburban Mississauga was originally listed at $689,900 on January 26th and sold on February 2nd for $842,500. That deal closed March 3rd.
Then, on March 9th, the four-bedroom two-bathroom dwelling sold again, this time for $1,065,999. It had been listed at $799,000.
The sellers effectively made $223,499 in a week off the rapidfire transaction (minus whatever taxes, fees, and other expenses they racked up).
Not bad, especially given the vacant home’s sale price was actually below the average for the area.
In February, the average selling price of a detached home in the 905 region was $1,106,201, up a jaw-dropping 35.4 per cent from a year earlier and outpacing the 416 in terms of the rate of appreciation.
The four-level home, which is steps from the winding Credit River and surrounding parklands, sits on a large corner lot (7,800 square feet, to be exact) off a quiet side street.
Newer detached homes in the GTA are typically built on narrow lots, as BMO Senior Economist Robert Kavcic recently noted, so 2 Charing Drive has obvious curb appeal.
For now, this house is off the market.