The home had been listed on and off with other realtors starting in 2022.Supplied
509 Eldorado Rd., Kelowna, B.C.
Asking price: $2,194,000 (April 22)
Previous asking prices: $2,399,000 (March 7, 2024); $2,370,000 (June 8); $2,349,000 (Sept. 10); $2,298,000 (Nov. 26)
Selling price: $2,099,999
Days on market: 473
Taxes: $8,089.12 (2024)
Listing agent: Richard Deacon, Engel & Volkers Okanagan
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The action
The home had been listed on and off with other realtors, starting in 2022, and listed as high as $3,145,000, said listing agent Richard Deacon. He took over the listing in 2024.
“The market was already starting to get murky. And there aren’t homes, even in a top neighbourhood like Lower Mission, that sell for $3-million plus. It’s very rare.”
The sellers, who wanted to downsize, still came out ahead of what it cost them to build the house, so they were pleased with the sale price, he added.
“It was a great house, that just suffered some timing issues and a poor market.”
The only other issue for buyers was the concrete area that surrounded the pool. So, the sellers installed some artificial turf which Mr. Deacon believes helped sell the house.
The 4,500-square-foot home boasts a massive deck with a view.Supplied
What They Got
The sellers had built the house and taken occupancy in 2020. The house is one of three infill developments by the same builder in the Lower Mission neighbourhood near Sarsons Beach, situated on a large 5,663-square-foot lot.
The contemporary 4,500-square-foot home is a high-end build, with automated features throughout, six bedrooms, four bathrooms, engineered wood floors, two fireplaces, pool, rooftop deck, EV charger, 22 solar panels, three-car garage and dog run. It has a view from the massive deck.
There are schools nearby, the beach is two blocks away and it’s walking distance to restaurants, golf, park and trails.
The home is one of three infill developments by the same builder in the Lower Mission neighbourhood near Sarsons Beach.Supplied
The Agent’s Take
The buyers got good value because the cost of building the same house today would be much higher than it was six or seven years ago. But the market is slow, so even well-built houses that are well priced take several months to sell, said Mr. Deacon.
“Probably a year to sell a house like this in the market now is not that abnormal,” he said. “When I took it on, it wasn’t an abnormally high price. It was fairly well priced all along.”