After two years on the market, this McKinley Landing area property in Kelowna, B.C. sold at $755,000 below original asking price.Royal LePage Kelowna
2052 Dewdney Rd., Kelowna, B.C.
Asking price: $2,985,000 (Sept. 3, 2024)
Previous asking prices: $3,695,000 (July 18, 2023); $3,295,000 (May 24, 2024); $2,999,000 (June 21)
Selling price: $2,940,000 (March 7)
Days on market: 598
Taxes: $12,708 (2024)
Buyer’s agent: Richard Deacon, Engel & Volkers Okanagan
What they got
The sunken family room has hardwood floors and tons of natural light.Royal LePage Kelowna
This lakefront home in the McKinley area faces 160 feet of waterfront with two private beaches and a new dock.
Royal LePage Kelowna
The contemporary two-level house was built in 1980 and has three bedrooms and three bathrooms. The open concept main living areas have hardwood floors, a sunken family room, a wood-burning fireplace, and tons of natural light. The custom kitchen includes a butler’s pantry with a second fridge, oven and dishwasher.
There is a vaulted ceiling in the primary bedroom, a full spa-like ensuite bathroom, and built-ins throughout. The downstairs features a large recreation room, two bedrooms, a four-piece bathroom and a covered deck. The property is landscaped and has a double-car garage.
The action
The property faces 160 feet of waterfront with two private beaches and a new dock.Royal LePage Kelowna
The sellers had owned the property for several decades, so it hadn’t been on the market for some time, said the buyer’s agent Richard Deacon.
His client was a Canadian with a young family who had been based in California for his career but wanted to own a secondary property in Kelowna.
Mr. Deacon believes the property was priced too high when it was initially listed in the summer of 2023, leading to several price adjustments.
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“The market had already turned downward by then, and they had just missed it,” he said.
“They had a lot of showings, and the property showed well. I understand they did have another offer that didn’t come together.”
Some people were put off by legal obstacles, such as the non-compliant dock and an easement. As a condition of sale, the sellers addressed both issues.
The agent’s take
Some legal technicalities – an easement and a non-compliant dock – made the sale difficult.Royal LePage Kelowna
“This would be one of those properties I would classify as a very good buy at the price it was at, even when it was priced high,” said Mr. Deacon. “It’s an iconic stretch.”
The sale completed June 3.