{"id":684274,"date":"2026-05-21T14:12:09","date_gmt":"2026-05-21T14:12:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/684274\/"},"modified":"2026-05-21T14:12:09","modified_gmt":"2026-05-21T14:12:09","slug":"undercut-by-competitor-toronto-condo-sells-below-asking-after-price-trimmed","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/684274\/","title":{"rendered":"Undercut by competitor, Toronto condo sells below asking after price trimmed"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Residents of this building in Toronto’s Niagara neighbourhood have access to a gym and a rooftop deck.Photography provided by Re\/Max Hallmark Bibby Group Realty<\/p>\n

1 Shaw St., No. 322, Toronto <\/p>\n

Asking price: $559,900 (March 25)<\/p>\n

Previous asking price: $585,000 (March 2); $599,900 (January, 2026) <\/p>\n

Selling price: $540,000 (April, 2026)<\/p>\n

Previous selling price: $326,000 (October, 2015); $328,000 (July, 2011); $172,186 (June, 2006) <\/p>\n

Taxes: $2,639 (2025)<\/p>\n

Property days on market: 100 <\/p>\n

Listing agent: Christopher Bibby, Re\/Max Hallmark Bibby Group Realty <\/p>\n

Open this photo in gallery:<\/a><\/p>\n

The kitchen has an island and full-size appliances.<\/p>\n

The action <\/p>\n

Agent Christopher Bibby saw declining interest rates and inventory levels late last year as positive signs that this one-bedroom-plus-den unit had a decent chance of selling in the new year. Once the tenant moved out in January, it was professionally staged and listed for $599,900. <\/p>\n

\u201cThere were fewer units on the market, more transactions and rates were lower than they were in the past,\u201d Mr. Bibby said. <\/p>\n

\u201cBecause there was really no competition in the building or the surrounding areas, we went out at a higher price to see what happened.\u201d <\/p>\n

But a competing unit popped up for sale in the 20-year-old building next to Massey Harris Park, and quickly sold for $539,000. In response, these sellers lowered their price to $559,900. An early lowball offer was rejected and they received two more offers, one of which was accepted at $540,000. <\/p>\n

\u201cSomeone used that [recent] sale against us, and it didn\u2019t work out. But in the end, we got two [more] offers,\u201d Mr. Bibby said. <\/p>\n

\u201cWe ended up selling for $1,000 more than [the competing unit] did, without the updates. All in all, we did very well.\u201d <\/p>\n

Open this photo in gallery:<\/a><\/p>\n

The principal room has sliding doors to a balcony with a gas hookup.<\/p>\n

What they got<\/p>\n

The 575-square-foot unit has a bedroom with a window and a principal room with sliding doors to a balcony with a gas hookup. <\/p>\n

There is a den by the entrance and a kitchen with an island, plus a bathroom and a laundry closet. <\/p>\n

The unit has one parking spot. Monthly fees are $512 and pay for heating, water and concierge, as well as use of a gym and rooftop deck. <\/p>\n

Open this photo in gallery:<\/a><\/p>\n

The condo’s bedroom has a large window.<\/p>\n

The agent\u2019s take<\/p>\n

\u201cWhen it was built, this was probably the most sought-after building in the pocket because of the finishes, full-size appliances and gas lines,\u201d Mr. Bibby said. <\/p>\n

\u201cIt has easy access down Strachan [Avenue] to the waterfront, Coronation Park and Martin Goodman Trail, as well as Trinity Bellwoods Park.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Residents of this building in Toronto’s Niagara neighbourhood have access to a gym…\n","protected":false},"author":2,"featured_media":684275,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194291],"tags":[49,48,49594,143460,1398,968,3302,143459],"class_list":["post-684274","post","type-post","status-publish","format-standard","has-post-thumbnail","category-toronto","tag-ca","tag-canada","tag-done-deal","tag-donedeal","tag-nodelphi","tag-real-estate","tag-toronto","tag-toronto-home-sales"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/684274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=684274"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/684274\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/684275"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=684274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=684274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=684274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}