First, how was the price misleading? The rate shown on the listing is the nightly rate and all of the taxes and fees are added to the total right before confirmation, which is in line with how hotels do their billing as well (I'm using this as an example, not saying that this is your situation).
Second, how far in advance of the trip did you book and cancel? If there's a strict cancellation policy, which seems to be the case with this one, the 48 rule ONLY applies if the reservation was made more than 14 days prior to arrival. If it's within a week of arrival, you only get half back.