$1.9M Luxury Penthouse In Markham Sells Way Below Under Listed Price
Is luxurious living on the decline? A beautiful Markham penthouse condo was sold greatly below its original listing price.
With a list price initially set at $2 million last summer, the property was relisted on two other separate occasions and eventually sold for $1,615,000βa significant deviation from the original listing price with a difference of $385,000. This substantial gap between the listing price and the final selling price may reflect a serious decline in demand for higher-end living spaces.
Dynamic shifts in the market happen frequently, with houses both exceeding and failing to meet listing prices. While this situation may serve as a sign of Torontoβs real estate bubble cooling down, the market changes too quickly for this case to be a considerable piece of evidence. Torontoβs ever-changing market highlights the importance of being well-informed before engaging in buying or selling real estate.
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