How Our Buyers Got 224 Ellis for $310,000 Below the Original Asking Price

By Samir Kumar, Sales Representative, RE/MAX Realty Services Inc., Brokerage· October 2026 · 4 min read

Our buyers just bought 224 Ellis Avenue, a detached house in Toronto's High Park-Swansea neighbourhood, for $310,000 below the original asking price. That's about 13.8% off, in a pocket of the city where detached homes usually sell in a week, often for more than asking.

Here's how it happened, and what it means if you're buying a home in this market.

What the data said: pay up

Over the last 12 months, 90 detached homes sold in High Park-Swansea. The median one sold in 9 days. The homes that sold within two weeks went for 106.9% of their list price on average, and that pattern has held for a decade: detached homes here have sold in about a week in almost every year since 2016.

If you only looked at those numbers, you'd walk in expecting to pay asking or more.

But this one sat 85 days

224 Ellis had been on the market for 85 days. Of the 90 detached homes that sold in the area over the past year, only one sat longer. And around here, detached homes that sit 30 days or more sell under asking 94% of the time.

That told us there was room to negotiate. It didn't tell us how much, or why.

The question that changed the offer

Before we wrote a single number, we asked the question we ask before every offer: why is the seller selling?

Most sellers have one of five reasons. We call them the 5 Ds:

Once you understand the seller's motivation, you know what they really need. Sometimes that's top dollar. Often it's certainty, timing, or a clean and simple deal. When you can give a seller what they actually need, price stops being the only thing on the table.

Numbers give you the market value. Motivation gets you the deal.

Out of respect for the seller, I won't share which of the 5 Ds applied here. What I can tell you is that understanding it shaped every part of our offer, and our buyers got the home they wanted for $310,000 less than the original asking price.

What this means if you're buying

• Days on market is a clue, not a conclusion. When a home sits much longer than its neighbours, something is going on. Find out what.
• Data tells you value. Motivation tells you price. Comparable sales show you what a home is worth. The seller's situation shows you what you can actually pay.
• Ask why before you offer. The best negotiating happens before the offer is written, not after.
• Don't let a hot neighbourhood scare you off. Even where most homes sell fast and over asking, the right home at the right moment can be a very different deal.

Congratulations to our buyers

Congratulations to our buyers on their new home in Swansea. You can see more of the homes we've helped clients buy and sell on Samir's Sales. Deals like this don't come from luck. They come from a plan, the right data, and asking the right question at the right time.

Frequently asked questions

How did the buyers get 224 Ellis Avenue for $310,000 below asking?

The home had been on the market for 85 days, far longer than the 9-day median for detached homes in High Park-Swansea. Before making an offer, we found out why the seller was selling and built the offer around what the seller needed most, not just the price.

How fast do detached homes sell in High Park-Swansea?

Over the 12 months to October 2026, the median detached home in High Park-Swansea sold in 9 days. Homes that sold within two weeks went for 106.9% of their list price on average.

What are the 5 Ds in real estate?

The 5 Ds are the most common reasons people sell a home: death, divorce, debt, downsizing and distance (relocation). Knowing which one applies helps a buyer understand what the seller needs and negotiate a better deal.

Do homes that sit longer sell for less in Toronto?

Often, yes. In High Park-Swansea, detached homes that stayed on the market 30 days or more sold under asking 94% of the time over the past year.