A house has recently sold for a significant loss in the Greater Toronto Area.
Home prices are declining throughout the GTA, with the average selling price at $973,289 in January, which is down 6.5 percent from January 2025, according to the latest report from Toronto Regional Real Estate Board. Home sales have dropped by 19.3 percent compared to last year.
Oakville has typically been one of the most expensive areas in the GTA. However, this region is also seeing a decrease in prices and sales.
The average price for a single-family home was $1,402,556 in January, which represents a five percent decline compared to last year, based on the latest Oakville, Milton and District Real Estate report.
Properties have been selling at a loss in Oakville. Last year, a custom-built Princess Margaret Home Lottery grand prize house sold for a million-dollar loss. Another Oakville property went for $447,500 less than its original price in December.
The most recent case is a luxury residence located at 341 Acacia Court, Oakville.
This four-bedroom house sold for $3,200,000 back in September 2022, as per online real estate records.
The home was listed shortly afterward in November 2022 for $3,300,000. It was relisted at that price two more times throughout 2023 but failed to sell. The asking price fell to $3,180,000 by May 2024 and then dropped further to $2,990,000 by August 2024.
The asking price kept decreasing until it finally sold this weekend for $2,460,000-resulting in a loss of $740,000.
“Thirteen attempts later, reality finally won,” noted real estate commentator Shazi Goalie on X. “It just sold for $2.46M. That’s a $740K loss before land transfer tax, commissions, carrying costs and years of stress.”
This four-bedroom home with five bathrooms sits on a 0.59-acre lot within Oakville’s prestigious Eastlake community according to the listing.
It features floor-to-ceiling windows along with amenities like a gas fireplace, pool hot tub pond pergola and even an area landscaped for golf practice complete with putting green and sand traps.
📢 Oakville Oblivion
📍 Oakville ON 🇨🇦
A beautiful yet untouchable Oakville.
Top school zones detached homes “safe money” according to everyone.
This luxurious home was purchased back in 2022 for $3.2M when excitement was high.
The aftermath? Pure denial followed suit.
Listed over and… pic. twitter. com/p13Kv E3WNO
– Shazi (@Shazi Goalie) February 9 2026
Lead photo: Re/Max Imperial Realty Inc.
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This four-bedroom house sold for $3,200,000 back in September 2022, as per online real estate records.
The home was listed shortly afterward in November 2022 for $3,300,000. It was relisted at that price two more times throughout 2023 but failed to sell. The asking price fell to $3,180,000 by May 2024 and then dropped further to $2,990,000 by August 2024.
The asking price kept decreasing until it finally sold this weekend for $2,460,000-resulting in a loss of $740,000.
“Thirteen attempts later, reality finally won,” noted real estate commentator Shazi Goalie on X. “It just sold for $2.46M. That’s a $740K loss before land transfer tax, commissions, carrying costs and years of stress.”
This four-bedroom home with five bathrooms sits on a 0.59-acre lot within Oakville’s prestigious Eastlake community according to the listing.
It features floor-to-ceiling windows along with amenities like a gas fireplace, pool hot tub pond pergola and even an area landscaped for golf practice complete with putting green and sand traps.
📢 Oakville Oblivion
📍 Oakville ON 🇨🇦
A beautiful yet untouchable Oakville.
Top school zones detached homes “safe money” according to everyone.
This luxurious home was purchased back in 2022 for $3.2M when excitement was high.
The aftermath? Pure denial followed suit.
Listed over and… pic. twitter. com/p13Kv E3WNO
– Shazi (@Shazi Goalie) February 9 2026
Lead photo: Re/Max Imperial Realty Inc.
INsauga’s Editorial Standards and Policies
Last 30 Days: 82 ,628 Votes
All Time: 1 ,222 ,870 Votes
4890 VOTES
