A home in Ontario sold at a staggering loss just a few months after being re-listed shows how frequently prices across the province's real estate m...
The sprawling 23-acre property in question, located at 76 Ridge Road West in Grimsby, overlooks the GTA skyline and comes with scenic private trails, campsites, a beach volleyball court and even an indoor swimming pool, according to its listing.The 16,000-square-foot mansion was originally sold for $5,850,000 in June 2023. Just one month later, the property was put back on the market for a mind-boggling $5,950,000, but was terminated shortly after.
In February 2024, the house was re-listed at the same price, however, the winning offer came in at just $4.94 million, which is roughly $900,000 less than what the property sold for just a few months earlier and approximately $1 million less what it was listed for. The Grimsby property isn't the only Ontario home to be sold at a massive loss in 2024. Just this week, another home in Burlington's affluent LaSalle neighbourhood wasthat selling prices in the GTA actually edged upward in February, which was mostly driven by"population growth" and a"resilient regional economy" that continued to boost the overall demand for housing.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Athletes from northwestern Ontario are off to a strong start at the Ontario Winter GamesA member of Team Northern Ontario takes a shot at Superior CVI on Saturday.
Read more »
Motorcycle driver dead after collision in Rideau Lakes Township: OPPOntario Provincial Police say a motorcycle driver has died after a crash in eastern Ontario.
Read more »
'World-class' Algoma University researchers awarded $900K in federal grants'We are immensely proud of the dedication and impact of our researchers, whose hard work paves the way for innovation and discovery'
Read more »
'It is real:' An Ontario researcher speaks out about her 18-month struggle with long COVIDAn Ontario long COVID-19 researcher says she is all too familiar with the lasting effects of the condition, which she experienced for 18 months after she got infected.
Read more »
Ontario to table 2024 budget without tax increases on March 26The Ontario government will table its 2024 budget at the end of the month.
Read more »
2024 Ontario budget set for March 26; minister says no tax increasesCanada's construction news
Read more »