4 homes that sold at massive losses in southern Ontario

Four homes recently sold for huge losses in southern Ontario.

The latest real estate numbers show prices are down in the GTA. The average selling price, at $1,084,547 last month, was down by 2.2 per cent compared to the February 2024, according to the Toronto Regional Real Estate Board.

However, people who purchased at peak high prices in late 2021 to early 2022 continue to sell for a loss.

There are many examples of homes selling for well under what purchasers paid. A north Oshawa home sold for a $510,000 loss less than three years after it was purchased. A Mississauga home sold for a $445,000 loss in January.

Real estate commentator Shazi found four more recent home sales in the GTA and southern Ontario where the owners took a huge hit.

“Brutal stories are emerging as utility companies cut off power, gas and water, lenders taking over selling for hundreds of thousands under what the homeowners paid,” Shazi said on X.

A home in Guelph at 7706 Speedvale Ave. E. sold for the biggest loss in this group of four homes. The home sold for $2,350,000 in early 2022, it was listed several times in 2024, according to online real estate records.

Records show the home finally sold for $1,775,000 on March 7 — a $575,000 loss.

The three-bedroom home sits on a 1.95-acre lot. Features include an open-concept design with a chef’s kitchen, a large mudroom, an in-ground pool, an outdoor barbecue kitchen, a patio with a stone fireplace and a hot tub.

The home at 7706 Speedvale Ave. E. sits on a large property. Photo: Sullivan Real Estate

A Brampton home at 7 Odeon St. sold for $2,100,000 in April 2022 and was listed several times starting in early 2023 until it finally sold for $1,640,000, according to online real estate records. This is a $460,000 loss.

The four-bedroom home features an upgraded kitchen with a breakfast area and a one-bedroom suite with a separate entrance.

This home at 7 Odeon St. in Brampton features a one-bedroom suite with income potential. Photo: Re/Max Gold Realty

An Oakville home at 2892 Arlington Dr. also sold for a $460,000 loss.

The home sold for $2,100,000 in February 2022 and was listed in late 2024 for $1,649,000 — it sold for $1,640,000 on March 6, real estate records show.

The four-bedroom home is on a quiet street in the Clearview neighbourhood. Features include a south-facing family room with a wood-burning fireplace, a main-floor office, a mudroom and an in-ground saltwater pool with a waterfall.

This home at 2892 Arlington Dr., Oakville has a in-ground pool. Photo: Re/Max Realty Enterprises Inc.

Finally, a home at 2 Edsall Ave. in Bowmanville was purchased in late 2021 for $1,025,000. It was listed just a few months later in May 2022 for $1,299,000 but didn’t sell.

It was listed again in February 2025 for $740,000 and sold in March for $660,000 — a $365,000 loss, according to online real estate records.

This home sits on a large, 100 by 150 foot lot with solid foundation and brick exterior, the listing stated. The listing suggests it could be converted into a dream home.

This home at 2 Edsall Ave. sits on a large lot. Photo: The Guardian Home Realty Inc.

🚨 Horrific Losses All Over The GTA

Brutal stories are emerging as utility companies cut off power, gas and water, lenders taking over selling for hundreds of thousands under what the homeowners paid.

This is just the last few days. pic.twitter.com/LQm52tJUby

— Shazi (@ShaziGoalie) March 8, 2025