Ontario Homes Selling Below Asking Price Lately

With the real estate market slowing down, many homes in Ontario are going for less than their listed prices.

This summer and fall, houses have been selling way under what sellers hoped. For instance, in October, a place in Mississauga sold for almost $700,000 less than its asking price. Back in September, another home went for $487,000 less in Brampton.

Though experts think the market will bounce back come spring, sellers are still dropping their prices now.

Zoocasa, a real estate brokerage, put together a list of homes across Canada that have recently seen price cuts.

Here are some from Ontario:

906 – 47 Mutual St., Toronto

Photo: Right at Home Realty

This one-bedroom condo is part of the Garden District Condos. It includes a den and an east-facing view without any obstructions. Updates include a handheld showerhead, induction stove top, waterproof vinyl floors, and Italian porcelain tiles in the bathroom. The building offers amenities like a pet spa, two-level gym, media room, shared workspace area and an outdoor garden with BBQ and fire pit.

Originally listed at $555,000 this past August, the price dropped to $499,900 by November.

1180 Falgarwood Dr., Oakville

Photo: Re/Max Escarpment Realty Inc.

Set on a ravine lot surrounded by tall trees, this three-bedroom house has an open floor plan with spacious main living areas. The kitchen is large with an extra breakfast nook. There’s also a big finished basement with its own separate entrance plus two more bedrooms down there.

The price was cut by $150K – down from $1.499 million to $1.349 million now.

10 Smith Cres., Etobicoke

Photo: Royal Le Page Real Estate Services

This detached one-and-a-half-storey home sits on a pie-shaped lot within Stonegate-Queensway neighborhood. Hardwood floors cover most rooms along with a wood-paneled sunroom. Two bedrooms feature custom wooden closet doors made to order.

Initially offered at $1,195,000; by early November it had dropped to $1,099,000.

11 Mcbeth Place, Whitby

Photo: Re/Max Rouge River Realty Ltd.

This Brooklin home has four bedrooms and four bathrooms on a corner lot featuring a wrap-around covered porch. Inside you’ll find new oak stairs as well as renovated kitchens and baths plus fresh flooring throughout along with double-sided gas fireplace. Backyard includes an inground pool complete with rock waterfall feature.

It was listed for $1.599 million but closed on Nov 24 at $1.545 million.

22 Harvey St., Cambridge

Photo: Re/Max Icon Realty

The last Ontario property here is a beautifully restored house dating back to 1887 which boasts Italianate design combined with delicate Queen Anne details throughout three bedrooms inside. Features include ten-foot ceilings , original pine floors , plus antique late nineteenth-century doors adding warmth & character all around.

This place started at $1 ,200 ,000 but the price has fallen now to $1 ,175 ,000.

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