Ken Ramsay/Ken Ramsay
72 Consecon Main St., Consecon, Ont.
Asking price: $264,900 (June, 2024)
Previous asking price: $299,900 (February, 2024)
Selling price: $187,500 (August, 2024)
Previous selling price: $330,000 (August, 2021); $68,000 (April, 1995)
Taxes: $1,478 (2023)
Property days on market: 182
Buyers’ agents: Ken and Jaime Ramsay, Harvey Kalles Real Estate Ltd.
The action
A first-time buyer wanting a property to personalize within 30 kilometres of Carrying Place, a small community between Toronto and Kingston, only found 10 properties that fell within their $300,000 budget this summer. The standout was this 144-year-old house on a quarter-acre lot with a newly reduced price of $264,900, an incredibly good bargain compared to nearby properties that sold for $525,000 and $385,000 months prior.
“The average price point in Prince Edward County is higher, so [the buyer] was really happy when I found this,” said their agent Ken Ramsay.
“Although it needs quite a bit of work, it has some really cool original details, like a tin ceiling in one of the rooms under layers of paint.”
An inspection flagged some unexpected issues – beyond the fact the main floor was demolished – so the buyer petitioned for an even lower price of $187,500. The seller – a mortgage lending company that repossessed the property from the last owner who paid $330,000 in 2021 – agreed to their terms.
“When you’re dealing with a company, it tends to be more about the numbers and less about emotions, so it’s easier to negotiate,” said Mr. Ramsay.
“This is the lowest sold price of a detached house in all of Prince Edward County since November 2020.”
This 1½-storey house has three bedrooms and one bathroom operating on a septic system.Ken Ramsay/Ken Ramsay
What they got
This 1½-storey house has three bedrooms and one bathroom operating on a septic system.
Four vehicles can park on a private driveway on the 43- by 264-foot lot.
The agent’s take
“The good thing with Consecon is the area is gentrifying,” said the buyer’s other agent, Jaime Ramsay.
“A very cute wine bar just opened up and a nice restaurant is also opening there.”