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done deal

Keller Williams Referred Urban Realty

110 McClure Dr., King City, Ont.

Asking price: $2,498,000 (November, 2022)

Previous asking price: $2,548,000 (September, 2022)

Selling price: $2,267,000 (November, 2022)

Previous selling price: $1,280,000 (November, 2014)

Property taxes: $9,463 (2021)

Days on the market: 46

Listing agent: Andrew Ipekian, Keller Williams Referred Urban Realty

The action

The two-storey house has more than 4,000 square feet of living space.Keller Williams Referred Urban Realty

In King City, about 55 kilometres north of downtown Toronto, new homes can command up to $6-million, which made this more than 30-year-old, four-bedroom house with a saltwater pool, priced at $2,548,000, potentially an attractive alternative. But the first five offers came below asking and with unacceptable conditions and closing dates attached.

“If you’re going to negotiate or give a concession on the price, other terms should be favourable,” agent Andrew Ipekian said. “So the offers were no good on any level.”

Keller Williams Referred Urban Realty

To corral a new set of potential buyers, Mr. Ipekian reduced the asking price by $50,000 in November. The sellers rejected six more offers, but a seventh, at $2,267,000, was accepted.

“You want to hustle and get the home sold before you close the pool,” Mr. Ipekian said, “because once you do, it won’t look as nice.”

“Showings dropped off in the month of December significantly … plus there was another interest rate,” he said. “So when you think of other headwinds that are coming, the market [for sellers] is getting worse, not better.”

What they got

The home has a hot tub, cabana and pool.Keller Williams Referred Urban Realty

This two-storey house has more than 4,000 square feet of living space, including a recreation area with a wet bar and fireplace, one of three in the house.

On the main floor, there are formal living and dining rooms, as well as a more casual family room off the kitchen. From the kitchen there is an exit to the deck, a hot tub and cabana on the 96-by-185-foot lot. The house has four bathrooms.

There is also an attached double garage.

The agent’s take

Keller Williams Referred Urban Realty

“It’s a very wide and deep lot with a forest in the back, so there were a lot of trees for privacy,” Mr. Ipekian said.

“It’s in the downtown area, so you can walk to shops and restaurants, and it’s a three-minute [drive] to the GO station, and five minutes from Highway 400, but it’s far enough it’s still a quiet street.”