The home, located a few blocks north of Eglinton Avenue, has a built-in double garage and living space across three levels.Photography provided by Keller Williams Referred Urban Realty
506 Castlefield Ave., Toronto
Asking price: $3,299,000 (November, 2025)
Previous asking price: $3,798,000 (September, 2025)
Selling price: $3.48-million (December, 2025)
Previous selling price: $2,375,000 (July, 2015)
Taxes: $17,434 (2025)
Property days on market: 90
Listing agent: Andrew Ipekian, Keller Williams Referred Urban Realty
An entertaining area on the main floors has a fireplace.
The action
This 10-year-old house on a 33- by 135-foot lot was brought to market with fresh paint and furnishings and received several offers, but none suited the seller.
“In today’s market, people want new-build homes because there are fewer problems with them,” said agent Andrew Ipekian.
“There wasn’t too much on the market at the time we listed, then more houses came on the market, adding more pressure for us.”
After 11 fruitless weeks, the decision was taken to slash the asking price by almost half a million dollars. The move sparked purchase offers from three willing buyers, and negotiations resulted in a sale at $3.48-million, without conditions.
“If you were at $3.8-million and relist at $3.7-million, it doesn’t mean it’ll sell overnight,” Mr. Ipekian said. “People would still negotiate with you.
“We wanted to drop the price significantly low enough where people realize it’s priced very aggressively for a bidding war.
“Generally, you get multiple offers without any conditions, and it’s sold right away.”
The house features an eat-in kitchen.
What they got
This four-bedroom, five-bathroom house is a few blocks north of Eglinton Avenue, between Avenue and Spadina roads. It has a built-in double garage and living space across three levels, including a finished basement with 12-foot ceilings and a rear exit.
A two-tiered deck is accessible from one of two entertaining areas with 10-foot ceilings and fireplaces on the main floor.
There is an office and a dining area connected to the eat-in kitchen through a butler’s pantry.
There is a two-tiered deck at the back of the home.
The agent’s take
“It was built [new] from the ground up; it wasn’t a renovation,” said Mr. Ipekian, “and one of the benefits of that is you have the high ceilings.
“The location was quite advantageous for a lot of people, with great schools in the area. And it’s close to transit, shopping and the downtown core.”