One of the Grey Houses has had a price drop!

In January 2012 this was listed for $1,199,000 before they tore the house down for this new build.

The new build is 4+1 bedrooms, 5 bathrooms on a 25 x 174.75 foot lot and was first listed at $3,249,000.  I thought that was crazy considering what the 'lot' was listed for in 2012.

The new build didn't sell and the price was dropped at the beginning of February to $2,999,000.

It still hasn't sold so the price has been dropped again to $2,899,000.

So why isn't it selling?

Could it be the lack of a formal living space?  Is it the toilet in the window?  Or is the price just too high?

Probably all of the above.