This must have come as a bit of a disappointment

14 Hycliff Road, priced at $3.999 million and pending since July, has sold for $3.825. The owners bought it new in 2005 for $5.8, put in a lot of improvements, and have been trying to sell it, off-and-on, since 2013, when they priced it at $7.8.

The lesson here is never to buy new unless you’re prepared to write off the builder premium. Usually, that premium isn’t as stiff as that paid here, but it can still sting.