Sat. Jul 13th, 2024

Brampton House Once Listed for $2.6 Million Sells for Over $700K Less

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.

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