Charlottetown house finds buyer on second try

33 Cottonwood Dr., Charlottetown

Asking price: $538,000 (April, 2022)

Previous asking price: $538,000 (November 2021)

Selling price: $528,000 (April, 2022)

Previous selling price: $183,000 (August, 2007)

Taxes: $3,370 (2021)

Days on the market: One

Listing agent: Kelly Lantz, Century 21 Colonial Realty Inc.

The action

This two-storey, Cape Cod style home is in a desirable neighbourhood of Charlottetown, less than five kilometers from the downtown core, near major retail outlets and the main campus of the University of P.E.I.

But timing is everything and this house – when listed first last November – had the worst, hitting a COVID lockdown, a holiday market lull and wicked winter storms. The result was only about 10 visits by potential buyers and one lone low bid over two months.

“We originally listed this home in early November, but the market had cooled quite a bit by the late fall,” agent Kelly Lantz said.

“A hard COVID lockdown by the provincial government – along with some winter storms and the Christmas holiday in December – resulted in very few home sales, so we took this house off the market.”

Reintroduced to the market in April, requests for showings nearly doubled, and a local buyer who had visited last fall wrote an offer on day one.

“The number of new listings on the Island in April – at 265 – was down more than 17 per cent from April, 2021,” Ms. Lantz said.

“Things in Charlottetown have been moving so quickly, so people are motivated when a new listing comes on in the spring.”

What they got

This three-bedroom house was built in 1975 and has 1,785 square feet of living space, plus a basement and an attached garage.

The home has an open-concept kitchen with granite countertops, and a family room with a propane fireplace. There is a patio door to the large, fully fenced backyard on the 0.282-acre lot. There are also formal dining and living rooms.

The agent’s take

“It’s in a nice, family-friendly neighbourhood with big lots and it’s in a good school zone,” Ms. Lantz said.

“The vibrant food scene, plenty of cultural attractions, world-class golfing, and miles of gorgeous beaches within about a 20-minute drive from Charlottetown are making our provincial capital a hot spot for home sales.”

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