This Toronto mansion just dropped its price by more than $2 million (PHOTOS)

Toronto’s once red-hot real estate market has cooled considerably over the last year, with prices falling and properties taking considerably longer to sell.

A prime example is 139 Dunvegan Road. Billed as the “most remarkable custom home,” the property was listed for $16,950,000 when it first hit the market in May of 2021.

After a year and a half without a sale, though, the price has dropped by more than $2,000,000 to $14,900,000.

For just under $15,000,000, the Forest Hill mansion offers “total refinement,” with soaring 12-foot ceilings, ample natural light, and luxurious materials.

Hardwood floors and crown mouldings abound.

Appearing as a classic chateau-inspired abode from the street, the home is actually U-shaped and configured around a central courtyard with a pool.

As a result, many of its spacious principal rooms offer picturesque views of the garden.

Such is the case in the great room, which is ideal for formal entertaining.

The space opens onto the sunroom, which features stone flooring and a massive fireplace, and in turn walks out to the pool.

The living room is spacious yet cozy and is combined with the kitchen. It opens onto an outdoor dining area with a barbecue and a hot tub.

With light-coloured cabinets, stainless steel accents, and a sizable island, the kitchen feels industrial yet stylish.

There’s a breakfast area as well as a formal dining room. The latter is wrapped in floor-to-ceiling windows.

An ideal work-from-home setup, the library features wood-panelled walls and a stone fireplace.

Upstairs, the family room gazes onto the garden below.

The home has four bedrooms and eight bathrooms.

No, that’s not a typo. Eight bathrooms for just four bedrooms.

The primary bedroom features a walk-in closet with built-in shelves, a five-piece ensuite, and a fireplace.

The basement offers a nanny suite, home gym, and billiards room.

There’s also a playroom and a spacious wine cellar.

As well as a six-car underground garage.

Interested buyers can check out the full listing here.

Or hold out for another $2,000,000 price drop.