Well even if the real estate market is "cooling down," it didn't seem to matter with this beauty on Lake Ontario. 

Originally listed for $10,500,000 on July 18, this home sold in just five days for $10,750,000. 

Normally, houses at this price range don't go for a quater-million over asking, but this one seems to be the exception.

An aerial view of the home looking towards the lake. 

And it's easy to see why.

The surrounding neighbourhood in Oakville. 

The four-bedroom, three-bathroom bungalow is one of the last large lakefront properties in "Old Oakville" (if you know, you know). 

The backyard, which has direct, private access to the lake. 

The lot is a whopping 121-by-247 feet with unobstructed views of the Toronto skyline and Niagara escarpment. 

The foyer. 

There's no doubt the land which this home sits on sold this place, but the home itself is no slouch. 

The split-level home is airy and bright. 

The bungalow is a low profile, mid-century home with lots of wood accents, an open concept layout and tons of natural light. 

The great room with wood panelling on the ceiling and exposed beams. 

The main living space (despite some of the dated elements) is stunning with floor-to-ceiling windows, a funky fireplace and a walk-out to the water. 

One of the many patios in the backyard to enjoy the views of the sailboats. 

The primary bedroom also has a walk-out to the backyard. 

The entrance with beautiful wood accents. 

There aren't a lot of pictures of the interior of the home, which might be because they're in need of some major renovations.

The family room with built-in bookcases. 

But what is pictured is any mid-century architecture lover's paradise. 

The pool in the backyard. 

Further, the backyard not only has all of Lake Ontario, but also a lovely inground pool. 

The breakfast nook off the kitchen. 

The home might likely be torn down to build a new custom home – as realtor Kevin O'Brien hints in the listing "the large lot offers many options for a beautiful custom residence." 

The multi-level backyard. 

But it would be kind of a shame to get rid of some of the classic architecture that makes this house so special.