Fierce bidding wars continue for prospective homeowners in Milton
Published March 17, 2022 at 11:29 am
With spring around the corner, prospective homeowners may be hoping for a change in the market, but so far this month, competitive pricing and bidding wars continue to be an issue for those looking to purchase a home in Milton.
This week, the Harrison neighbourhood of Milton saw the following activity.
According to HouseSigma, a semi-detached house sold for roughly $250,000 over asking, a detached house sold for roughly $200,000 over asking and a freehold townhouse sold for roughly $115,000 over asking.
While this does mean that competitive pricing continues to wreak havoc on prospective homeowners, the final bids on sold homes seemed to be slightly lower, in comparison to the bidding wars that were taking place just last month.
This could be due to low inventory in the housing market, which has proven to be an additional challenge. However, this tends to be particularly common during the winter as many people like to wait until the weather warms up to sell their homes.
Just one month ago, a detached house in the Scott neighbourhood of Milton sold for more than $400,000 over asking. The home, which was listed for $1,199,900 sold just five days later for $1,630,000.
Last month, the market also saw a semi-detached home located in the Harrison neighbourhood of Milton, sell for more than $300,000 over asking.
There are currently several detached and semi-detached homes as well as freehold townhouses on the market in Milton, each of which has an asking price of almost $1 million or more.
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