The Toronto real estate market might finally be showing signs of a cool down. Where once it seemed like pretty much every property sold for over asking, now we're starting to see a significant number of homes close under their list prices.

Despite the trend, however, there are still some highly desirable listings that are under-priced, which inevitably lead to multiple bids and higher selling figures. Such is the case with this condo at 701 Dovercourt in the Church Lofts.

Spread across multiple levels in the roof space of the heritage buildings, this stunning unit features two large bedrooms, a den and two washrooms to go along with two outdoor spaces. In other words, this one was never going for $999K.

The Essentials

• Address: 701 Dovercourt Rd. #701
• Hit the market at: $999,000
• Time on market: 8 days
• Sold for: $1,400,000

Why it sold for what it did

This condo is big, has loads of character, and considerably more appeal than a glass box. Given that modern condos of roughly this size come in at around the million mark, it seems obvious that this one would attract higher bids.

Was it worth it?

Let's rephrase the question: would you want to live here? I suspect that many people will nod yes. There are a lot of nice features that set this one apart. Over and above the unique space, the large den/office, multiple floors, and rooftop deck are highly attractive.