House once listed for $2.6 mil sells for over $700k less in Brampton

Although house prices remain high in Brampton, a listing on a popular real estate platform shows that some more luxurious properties did not sell for as much as the owners might have hoped at the height of the market. 

X user @ShaziGoalie, who posts real estate content, recently shared a House Sigma listing showcasing a spacious seven-bedroom (three below-grade) home in the Vales of Castlemore North that sold for $ 1,885,000 earlier this year. 

While $1.8 million is far from low, the listing shows the property–which comes with a basement suite with a separate entrance–was listed for $2,599,000 in April 2022. 

The listing says that after the property–which was once priced at just $740,000 in 2014–didn’t sell for that, it was terminated twice and re-listed at $2,499,000 and $2,495,000, respectively. 

“After listing 4️ times with massive price reductions, (3️ times at the TOP of the market), sellers change brokerages and finally sell almost two years and $714k under their original asking price,” the X post reads. 

“Castlemore Collapse”🏚

📍Brampton, ON 🇨🇦

Major Price Discovery 📉

After listing 4️⃣ times with massive price reductions, (3️⃣ times at the TOP of the market), sellers change brokerages and finally sell almost two years and $714k under their original asking price.

Did they… pic.twitter.com/qoMBs19kWZ

— Shazi (@ShaziGoalie) May 24, 2024

The home, located at 11 Eiffel Blvd, still sold for more than the typical price in Brampton. According to a recent Toronto Regional Real Estate Board report, the average selling price in the city was $1,026,582 in April 2024, with the average price of a detached home hitting $1,208,562. 

Photo by Re/Max Gold Realty Inc. 

According to the listing, the home boasts seven bedrooms (three in the basement), six bathrooms and a three-car garage. It also offers new hardwood floors and porcelain tiles, an upgraded kitchen with quartz countertops, pot lights, a new roof, a new driveway and a new backyard deck.