241 Hillcrest Rd., Ottawa
Asking price: $2,475,000 (March, 2022)
Previous asking price: $2,475,000 (November, 2021); $2,688,000 (August, 2021); $2,799,000 (May, 2021)
Selling price: $2.15-million (June, 2022)
Previous selling price: $1,665,000 (August, 2013); $1,050,000 (April, 2006); $525,000 (May, 1996)
Taxes: $18,770 (2021)
Days on the market: 108
Listing agent: Raymond Chin, Coldwell Banker First Ottawa Realty
This four bedroom home in Rockcliffe Park, a short distance from the Governor General’s residence at Rideau Hall, needs a renovation, and few buyers were willing to take on the work during the pandemic. Consequently, the asking price was repeatedly dropped as an enticement, eventually sliding from $2,799,000 to $2,475,000.
“The issue with this home is it needs updating because the design and floor plan was an acquired taste,” said agent Raymond Chin.
“We digitally staged a few rooms to give a sense of how the layout can be used, and we did a lot more open houses consistently because the [number of] private viewings were low.”
Eventually, three potential buyers came forward and a deal was finally reached in June at $2.15-million.
“There are not a lot of people in Ottawa looking in that price range of $2-million plus, which is still considered high-end here,” Mr. Chin said.
“It was strange this was on the market for a year, but all of a sudden, we had a third person interested during the slowest time of the year.”
What they got
This three-storey house sits on a 100- by 120-foot corner lot and has about 4,000 square feet of living space, including the finished basement.
There is a formal dining room and a breakfast area in the kitchen. On the other side of the main floor, two entertaining areas have fireplaces.
The second and third level both have one bedroom, each with private bathrooms. The home has two other bathrooms.
The home comes with an attached double garage.
The agent’s take
“It’s a very desirable neighbourhood,” said Mr. Chin.
“It’s on a smaller lot, but it’s a corner lot.”
Your house is your most valuable asset. We have a weekly Real Estate newsletter to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.