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Property Description
Presenting an exceptional opportunity in the prestigious enclave of King City, this prime 2-acre lot offers endless possibilities for renovation, redevelopment, investment, or a luxury custom-built estate. Surrounded by newly constructed multi-million dollar homes, this property is ideal for builders, developers, and investors looking to create a signature residence in one of the GTAs most sought-after communities. The existing 5,000+ sq ft home features 3+2 bedrooms, 3 bathrooms, and spacious living areas, making it livable or rentable while planning a new development. Permits and architectural drawings are on hand, streamlining the process for those looking to build a brand-new luxury estate. A private, tree-lined setting provides an exclusive retreat while still being minutes from GO Transit, top private schools, fine dining, and major highways. King City continues to attract high-end buyers seeking prestige, privacy, and space, making this a rare chance to secure a premium lot in a high-demand luxury market. Endless possibilities for renovations, redevelopment, investment, or a luxury custom-built estate. Permits and architectural drawings are on-hand.
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Property Features
Public Transit
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Property Details
Street
Community
City
Property Type
Detached, Bungalow
Approximate Sq.Ft.
5000+
Lot Size
104' x 426'
Fronting
West
Taxes
$12,322 (2024)
Basement
Part Fin
Exterior
Brick, Concrete
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Well
Parking Spaces
7
Driveway
Private
Garage Type
Attached
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King Market Statistics
King Price Trend
7 Scott Cres is a 3-bedroom 3-bathroom home listed for sale at $2,999,999, which is $1,660,249 (123.9%) higher than the average sold price of $1,339,750 in the last 30 days (January 21 - February 19). During the last 30 days the average sold price for a 3 bedroom home in King declined by $914,000 (40.6%) compared to the previous 30 day period (December 22 - January 20) and down $318,250 (19.2%) from the same time one year ago.Inventory Change
There were 13 3-bedroom homes listed in King over the last 30 days (January 21 - February 19), which is up 8.3% compared with the previous 30 day period (December 22 - January 20) and down 7.1% compared with the same period last year.Sold Price Above/Below Asking ($)
3-bedroom homes in King typically sold $18,278 (1.4%) above asking price over the last 30 days (January 21 - February 19), which represents a $162,728 increase compared to the previous 30 day period (December 22 - January 20) and ($93,166) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 3-bedroom homes in King over the last 30 days (January 21 - February 19) stood at 30.8%, down from 33.3% over the previous 30 days (December 22 - January 20) and down from 42.9% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 3-bedroom 3-bathroom home in King stood at 40 days when successfully sold over the last 30 days (January 21 - February 19), compared to 68 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Noblecorp Real Estate
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