Engel & Volkers Okanagan
855 Crawford Rd., Kelowna, B.C.
Asking price: $3.699-million
Selling price: $3.625-million
Days on the market: 454
Previous selling prices: $460,000 (2000); $285,000 (1996)
Taxes: $7,699 (2020)
Listing agent: Richard Deacon, Engel & Volkers Okanagan
The action
The 7,000-square-foot house is deep in Kelowna wine country.Engel & Volkers Okanagan
The owners raised their three kids at the property and were downsizing. They put the property on the market previously at $3.8-million but after a year it didn’t sell.
Listing agent Richard Deacon took over the listing in July, 2020 and set the price $100,000 lower and received the accepted offer after three months. The sale closes Feb. 25. He says it’s one of the busiest years he’s seen, and he has clients who have sold off successful businesses and are putting their money into property.
What they got
The living room offers beautiful views of the mountains and is flooded with natural light.Engel & Volkers Okanagan
This seven-bedroom, seven-bathroom, 7,000-square-foot house is deep in Kelowna wine country, but minutes from the city centre.
The 12-acre estate comes with a pool, wine room, theatre, gym, hot tub, six-acre pine forest and two-acre Haskap berry farm.
The agent’s take
The 12-acre estate area boasts of a six-acre pine forest and two-acre Haskap berry farm.Engel & Volkers Okanagan
Mr. Deacon said three types of buyer looked at the property. They were families looking for space, coming from the Lower Mainland and Alberta. Others were farmers looking for land to grow crops, but they couldn’t justify spending the extra $1-million on the house.
“And the last buyer was the person that bought it: the empty nester that had grandkids,” Mr. Deacon said. “The family thought this was the kind of property where they could entertain, and they liked the idea of cheaper taxes and the novelty of a boutique farm.”
Owners of such properties can either handle the farming themselves, or lease out the acreage through a management company. The property could also be leased out for use as a vineyard, which is common in the Okanagan.
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