Home asking price drops $500,000 in a month in Oakville

A home that’s seen its asking price drop by half-a-million dollars in a month is one of two Oakville properties that made a dubious real estate list.

According to Zoocasa, an online real estate company, the home at 2218 Wyandotte Dr. was first listed for $1.79M on June 14. The following week, June 23, it was relisted at $1.69M. However, on Monday, July 15, the price dropped again, this time by nearly 25 per cent, to the current $1.29M.

The home has seen a lot of turnover recently, it was twice sold in 2023 about eight months apart, both times listed for $1.19M and selling for $1.22M.

It’s described as recently renovated, complete with a finished basement apartment. It features a custom, modern kitchen and large outdoor space, conveniently located near a number of shops, restaurants, and cafes, as well as the GO train.

The second Oakville house on Zoocasa’s list, 142 Herald Ave., also has an interesting sales history. In January 2023, it sold for $880,000, $55,000 below its asking price.

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Now, 18 months later, it is back on the market for $2.55M, a reduction from two months ago when it was initially listed at $2.74M.

A custom-built home, it’s described as having a stunning kitchen with stone countertops, spacious, covered porch and a basement with 9-foot ceilings, rec room and exercise area.

According to June sales numbers, housing prices continue to fall across the GTA.