Sale of the Week: The $3.6-million King City estate that proves selling a luxury property can be difficult

Address: 124 Kingsworth Road
Neighbourhood: King City Agents: Paige Torkan and Peter Torkan, RE/MAX Realtron Barry Cohen Homes Inc., Brokerage Previously sold for: $3,850,000, in 2017      

The property

A palatial 9,000-square-foot home on two acres of land.

The history

The sellers are a couple who own multiple businesses. They decided to sell so they could move closer to their kids’ schools.

Here’s the entry, with high ceilings and a dramatic staircase:

The living room has some built-in shelving:

The dining room can seat a crowd:

The kitchen has a large breakfast area:

The house has six bedrooms. Here’s one of them:

And another:

And another:

And another:

The basement rec room is large enough for a sizeable toy collection:

And of course there’s a jumbo-sized backyard:

The fate

The buyers are a couple with two children who moved to Canada from China a few years ago. They had been looking for a new home for about a year when they came across this place, which was suitably extravagant and within the school district they wanted.

The sale

The home was originally listed at $4,499,000, but, when an offer fell through, the sellers did some market analysis and dropped their ask by $500,000. They eventually accepted an offer nearly $350,000 below the new list price.

By the numbers

• $3,650,000 • $20,000 in taxes (approximately) • 9,000 square feet • 25 parking spaces • 8 bathrooms • 6 bedrooms