Ajax neighbourhood cracks top five most overbid neighbourhoods in Ontario
Published January 13, 2023 at 12:07 pm
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;
- Markham’s Berczy Village – Average of 23 per cent/$225,000 over asking
- Ajax’ Applecroft – Average of 14 per cent/$148,000 over asking
- Markham’s Raymerville – Average of 14 per cent/$135,100 over asking
- Richmond Hill’s Rouge Woods – Average of 10 per cent/$137,550 over asking
- Oakville’s Glen Abbey – Average of 8 per cent/$129,501 over asking
Meanwhile, the most underbid neighbourhoods are;
- Toronto’s Deer Park – Average of 10 per cent/$149,000 below asking
- Vaughan’s Kleinberg -Average of 8 per cent/$163,500 below asking
- North York’s Hogg’s Hollow – Average of 7 per cent/$219,000 below asking
- Mississauga’s Sheridan Park – Average of 7 per cent/$151,500 below asking
- Oakville’s West Oakville – Average of 7 per cent/$109,000 below asking