A softening market prompts two price changes before house in Calgary’s Monterey Park neighbourhood secures a winning bid
Owners of this three-bedroom house were excited by the brisk sale of properties across Calgary this spring, leading them to believe theirs could trade for $574,900. Offers for far less were disappointing and quickly dismissed. To reignite buyer interest, the price was dropped in May by $20,000; a proposal was accepted, but sank due to financing. In June, they changed the price again to $529,900, which was followed by a solid bid of $526,900.
“With the increasing interest rates and the spring market ending in Calgary – and much of Canada, really – it’s very typical,” said agent Bryon Howard. “Bottom line is we started too high, and we missed some of the market.” In hindsight, the setting around the 19- by 108-foot lot also wasn’t favourable. “Behind it, it looked like there was a park or green space for years, but during the course of the listing, a house started to be built,” Mr. Howard said. “[Plus], there are no great amenities to walk to nearby.”The house has an eat-in kitchen with newer stainless steel appliances and access to a deck.
The foyer opens into a living room with double-height ceilings and an adjacent dining area. Across the rear is a family room with a gas fireplace and an eat-in kitchen with newer stainless steel appliances and access to a deck.The family room has a gas fireplace.“It’s quite nice for the area with a nice, finished basement and floor plan, and the kitchen was updated,” Mr. Howard said. “It’s on a nice cul-de-sac … and this has a driveway with four parking spots.
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