A recently sold home in Thorold, Ontario, south of St. Catharines, has drawn attention after it sold for $790,000, representing a loss of $457,860 — nearly 40 per cent below its January 2025 purchase price. The property at 11 Hopkins Street was originally purchased for $1,247,860 and is the latest example of significant price corrections in parts of southern Ontario’s real estate market.
According to online real estate records, the four-bedroom, four-bathroom home — featuring approximately 3,000 square feet of finished living space — was listed in September for $999,999 but did not attract a buyer. It was eventually sold on October 1, 2025, for $790,000. Real estate commentator ShaziGoalie called the sale “another gut punch in the Niagara region,” describing the price drop as a “nightmarish 40% loss” in a post on X.
The property features stainless steel appliances, a gas stove, a double-door refrigerator, pot lights throughout, and a central island. The main floor includes a formal dining room and a bright family room with hardwood floors. The finished basement offers a large recreation area with laminate flooring, a fireplace, a bedroom, a bathroom, and walkout access to the patio.
While many homes currently selling at a loss were purchased during the market peak in 2022, this sale stands out because the property was bought well after prices began to cool. Earlier this year, a Hamilton property sold at a 60 per cent loss, while another home in Niagara recorded a $300,000 loss over the summer, signaling that market corrections are still unfolding in some regions despite broader stabilization trends elsewhere in Ontario.
The Thorold sale underscores the ongoing volatility in the southern Ontario housing market, particularly in communities that experienced rapid price escalation during the pandemic housing boom. Analysts suggest that elevated interest rates, reduced investor activity, and shifting demand patterns are contributing factors behind these steep price adjustments.