Mississauga house sells for $54,000 under asking after fourth price drop


6092 Carradine Court, Mississauga

Asking price: $1,649,000 (Mid-August, 2022)

Previous asking price: $1,749,000 (Early August, 2022); $1,849,000 (Late July, 2022); $1,949,000 (Mid-July, 2022) $2.1-million (Early July, 2022)

Selling price: $1,595,000 (Mid-August, 2022)

Taxes: $6,845 (2022)

Days on the market: Two

Listing agent: Kimmé Myles, Sotheby’s International Realty Canada

The action

Agent Kimmé Myles expected this four-bedroom house might sell for about $1.6-million, but the owners requested a listing price of $2.1-million based on its recent renovations and select location abutting a park near Mississauga’s Heartland Town Centre. House hunters disagreed with the lofty valuation and the price was cut four times over six weeks.

“I knew our price was high, but my clients had done a lot of upgrades, so it was a beautifully-done home … and it backs onto a forest, which you don’t see very often,” Ms. Myles said.

“A property that wasn’t done like ours sold in three days for full list for $1.444-million, and we were listed at $1.949-million [at that time], so it was quite a spread, and we knew the market was already in transition.”

Once their price dipped to $1,649,000, the sellers received a conditional offer, then two more proposals.

“We gave the first person a chance to remove their conditions and they didn’t, so it sold to one of those two [other bidders] for $1.595-million,” Ms. Myles said.

“We sold for under list of $1.649-million, however, we did better than the property down the street, so all-in-all, everyone was happy.”