Lack of a pool leads to price cut for Vaughan house

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41 Highland Creek Court, Vaughan, Ont.

Asking price: $4,998,000 (May, 2023)

Previous asking price: $5,250,000 (August, 2022)

Selling price: $4.9-million (August, 2023)

Taxes: $25,968 (2022)

Property days on the market: 217

Listing agent: Andrew Ipekian, Keller Williams Referred Urban Realty

The action

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This six-bedroom house in the former village of Kleinburg had many of the sought-after attributes absent from neighbouring homes but it lacked one major item on many home buyer checklists: an in-ground pool. That deficit eventually led to the sellers cutting the asking price from the initial $5.25-million to $4,998,000.

The home sits on a 90- by 260-foot lot siding onto the Humber River and has a five-car garage.

“It’s a higher-end home in terms of price, quality and finish,” said agent Andrew Ipekian. “A lot of people were looking for a house with a pool, so we virtually staged it with a pool in the backyard so people were able to visualize where the pool would go.”

There were no offers after five months on the market, and when one came it was rejected as inadequate, as were two more offers made after the asking price was reduced. A fourth bid at an even $4.9-million was accepted.

“Inventory is generally lower in the summer months historically, and the number of buyers was also low because most people were away on vacation,” said Mr. Ipekian.

“If you know the value of the home you’re selling, it’s okay to wait for the right person to come by.”

What they got

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In 2007, this two-storey house was highly customized with ceilings in some rooms up to 20 feet in height, herringbone hardwood flooring, and fireplaces in two entertaining areas. There are two more fireplaces outdoors on the patio and loggia.

The basement is unfinished.

The agent’s take

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“The big draw for this home was the sheer size of the property with almost 9,000 square feet [of living space], and then a five-car garage with separate bays is also unheard of,” Mr. Ipekian said.

“The other selling feature was it had a separate apartment/office above the garage with its own entrance, kitchen, bathroom, bedroom and furnace. For people who work from home, you could have clients come in through a separate door and not bother your family.”