House purchased in Oshawa in 2022 sold for $640,000 loss

An Oshawa home buyer who bought a home at the top of the market in early 2022 took a $640,000 loss after putting the property back for sale after ten months and then listing it six more times before it finally sold in May 2025.

The house at 2496 Orchestrate Drive in the city’s booming north end was purchased in February 2022 for $1,810,000 and put on the market for sale ten months later for $1,699,000.

The home was relisted in March 2023 for $1.574 million and again in July for $1.499 million before the seller bumped the price back up to more $1.5 million in three unsuccessful attempts in 2024.

The lender eventually took over and the property finally sold in May 2025 for $1,170,000 – a whopping $640,000 loss.

Housing prices have dropped by $1 million in some Greater Toronto neighbourhoods since 2022, with many people who purchased at peak high prices in early 2022, and even some who bought in 2023, are losing money if they need to sell now.

A home sold in the Kedron neighbourhood in Oshawa – immediately to the east of the property on Orchestrate Drive – for a $510,000 loss on January 31 and properties in the Northwood neighbourhood on the west side have dropped 44 per cent since 2022, with homes now averaging $751,000 versus $1.35 million three years ago.

While some real estate experts predict home prices will increase soon it has been a slow spring market.

With files from Karen Longwell