Seller accepts market decline, condo sold below purchase price

DONE DEAL Seller accepts market decline, condo sold below purchase price SYDNIA YU SPECIAL TO THE GLOBE AND MAIL PUBLISHED 51 MINUTES AGO Open this photo in gallery: The corner unit has an east-facing balcony off the den and a south-facing balcony off the kitchen by the living room. ROYAL LEPAGE SIGNATURE REALTY COMMENTS SHARE SAVE FOR LATER 1480 Bayly St., No. 1212, Pickering, Ont. Asking price: $548,800 (July, 2026) Selling price: $545,500 (August, 2026) Previous selling price: $561,504 (January, 2023) Taxes: $5,501 (2025) Days on the market: 11 Listing agent: Trevor C. Nicolle, Royal LePage Signature Realty The action Open this photo in gallery: The unit has two bedrooms, two full bathrooms and a laundry closet. ROYAL LEPAGE SIGNATURE REALTY The owners of this two-bedroom plus den unit bought it preconstruction for $561,504 and intended to move in after completion in 2022. In the interim, they found a larger unit, essentially leaving this one empty within a multitower development near Pickering GO station and Highway 401. They decided to sell it this summer and, despite a similar unit going up for sale in the building, their agent staged it and priced it under $550,000. “In today’s market, you have to be sharp with your pricing and understand there’s been a pullback in values in condominiums in the GTA as a whole,” said agent Trevor C. Nicolle. “I also did a very aggressive marketing campaign with photography and videography on Instagram, Facebook and LinkedIn, and that’s the best way to get exposure on a listing.” The 950-square-foot unit only had four visitors before one buyer purchased it for $545,500. “The sellers knew values have pulled back,” Mr. Nicolle said. “At the same time, they’ll free up equity. “It was an opportunity for someone to get into a brand-new unit, only lived in for three or four days.” What they got Open this photo in gallery: ROYAL LEPAGE SIGNATURE REALTY This corner unit has an east-facing balcony off the den and a south-facing balcony off the kitchen by the living room. There are two bedrooms, two full bathrooms and a laundry closet. The unit has a storage locker and one parking spot. Monthly fees of $889 include heating. The agent’s take Open this photo in gallery: ROYAL LEPAGE SIGNATURE REALTY “It’s a unique unit with two balconies,” said Mr. Nicolle. “The appeal of this development is it’s right beside the Pickering GO station … and it’s south of the 401.” Sign up for the Real Estate…