While house prices in Brampton remain high, some luxury properties have not fetched the expected prices. A notable example is a spacious seven-bedroom home in the Vales of Castlemore North, which recently sold for $1,885,000, over $700,000 less than its original listing price.
The property, which includes a basement suite with a separate entrance, was initially listed for $2,599,000 in April 2022. Despite its luxurious features, the home did not sell at that price and was subsequently re-listed at $2,499,000 and $2,495,000, before finally selling for $1.8 million earlier this year.
This price adjustment reflects the fluctuating dynamics of the real estate market in Brampton. The property had previously been valued at just $740,000 in 2014, highlighting the significant rise and subsequent correction in property values.