Ontario lottery's '$9 million' grand-prize home just sold for less than half that

A luxurious Ontario home that headlined the Princess Margaret Lottery's biggest grand prize to date sold this month for less than half of its advertised value.

The new-build property, located in Oakville's Eastlake neighbourhood, was promoted as a $9 million showhome as part of the charity's spring 2025 lottery, but recently changed hands for just $4.3 million, according to its listing history. The sale, which closed on Nov. 17, occurred after the home had been listed for just shy of $5 million.

The custom-built home, which was designed by architect Richard Wengle and built by PCM Now, spans 7,000 square feet and features five bedrooms and six bathrooms.

The showhome was awarded as the $9 million grand prize, the lottery's biggest prize to date, along with an additional $500,000 cash prize. The lucky winner, a Mississauga resident, was announced back in April.

The property's interesting sale history was quickly shared on social media, including on Reddit, where many reflected on the massive gap between market valuations and Toronto's current market reality.

"It was 'valued' at 9 million by the organizers so obviously inflated. Heck to someone else it could have been valued at 20 million. But to the buyer who bought in this exact market it was valued at $4.5 million. Value is relative and subjective," one person noted. 

Despite this, many noted that the lottery remains a major fundraiser for cancer research. The foundation, which is Canada’s largest cancer charity, uses these proceeds to support the Princess Margaret Cancer Centre and campaigns like Carry The Fire.

The Princess Margaret Cancer Foundation is currently selling tickets (starting at $100) for its fall 2025 home lottery, which offers more than 17,000 prizes collectively valued at over $12 million.

The current top prize is a custom, Georgian-style estate in downtown Oakville, which spans over 5,400 square feet and comes with 20-foot ceilings, a 10-foot kitchen island, a primary suite with a double-sided fireplace, a private elevator, a wine cellar, a gym, sauna, and smart-glass spa. 

The showhome's value is listed as $6.5 million, and it also comes with a $500,000 cash prize.