Ajax neighbourhood cracks top five most overbid neighbourhoods in Ontario

The Town of Ajax has ranked among the Greater Toronto Area’s top five bidding war zones for new homes, according to a new report.

The real estate tool, Wahi, published its report of the top five most over-bid and the top five most under-bid neighbourhoods across the GTA.

Wahi found most neighbourhoods in the area are seeing houses sell for below asking price as markets slowly cool. However, they noticed a “few pockets” of the GTA were still seeing homes selling well above asking.

As of December 86 per cent of GTA neighbourhoods were selling homes on average at $20,000 beneath the asking price. A year ago the situation was completely reversed with 86 per cent of neighbourhoods seeing homes sold $73,000 above asking on average.

The most overbid neighbourhoods break down as;

1. Markham’s Berczy Village – Average of 23 per cent/$225,000 over asking
2. Ajax’ Applecroft – Average of 14 per cent/$148,000 over asking
3. Markham’s Raymerville – Average of 14 per cent/$135,100 over asking
4. Richmond Hill’s Rouge Woods – Average of 10 per cent/$137,550 over asking
5. Oakville’s Glen Abbey – Average of 8 per cent/$129,501 over asking

Meanwhile, the most underbid neighbourhoods are;

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1. Toronto’s Deer Park – Average of 10 per cent/$149,000 below asking
2. Vaughan’s Kleinberg -Average of 8 per cent/$163,500 below asking
3. North York’s Hogg’s Hollow – Average of 7 per cent/$219,000 below asking
4. Mississauga’s Sheridan Park – Average of 7 per cent/$151,500 below asking
5. Oakville’s West Oakville – Average of 7 per cent/$109,000 below asking