Lack of third bedroom pares back Calgary home’s sale price

Open this photo in gallery:

187 Panorama Hills Rd., N.W. Calgary

Asking price: $1-million (November, 2023)

Selling price: $923,000 (November, 2023)

Previous selling price: $645,000 (May, 2008)

Taxes: $4,780 (2023)

Days on the market: 22

Listing agent: Kamil Lalji, CIR Realty

Open this photo in gallery:

The action

This two-bedroom house borders a golf course, but the lack of a third bedroom led to an initial verbal offer substantially below the $1-million list price. A second offer, this time committed to paper, left room to negotiate and led to a final accepted offer of $923,000.

“It only had two bedrooms upstairs, so automatically, even if it’s the most beautiful home, it limits our audience tremendously,” said agent Kamil Lalji.

“Generally, it’s a slow time of year, but [Calgary] inventory has just been so low that there are people that bleed into the low season months because they haven’t found something they were looking for,” Mr. Lalji said. “We figured we’d find someone to buy this place.”

Open this photo in gallery:

What they got

This 21-year-old house is built into a sloping 40- by 115-foot lot, with the main entrance and double garage facing the street. An office in the basement has an exit out to a south-facing patio and backyard.

The façade was refinished in 2010 and the driveway was given a rubberized coating. The interior was renovated, which included heated tile flooring in all four bathrooms.

There are open family areas on the main and upper levels and a grand living room off the eat-in kitchen with a gas fireplace and 18-foot ceilings.

Annual homeowners’ association fees are $100.

Open this photo in gallery:

The agent’s take

“There were other homes backing onto the golf course that didn’t sell for nearly as much as this, price per square foot wise, because this one was fully renovated by a designer,” Mr. Lalji said. “It has a different feeling than your regular suburban house.”