Most affordable detached home in Hamilton still went $100K over asking


Published February 16, 2022 at 10:30 am

At $299.000, this Corktown cottage had one of the lowest listing prices in Hamilton in the last 30 days. (RE/MAX ESCARPMENT REALTY INC., BROKERAGE)

One of the most affordable detached homes on the market in Hamilton in the past 30 days still sold for more than $100,000 over its asking price last week.

According to data supplied by HouseSigma, the two-bedroom, one-bathroom home located at 62 Liberty St. in the Corktown neighbourhood, was listed on February 4, 2022, for $299,999 and sold just seven days later, on Feb. 11, for $412,000.

The sale price, according to data from Zoocasa, is just slightly over the average sale price for a home in the Corktown neighbourhood in downtown Hamilton, which currently sits at $388,500.

Aside from its very convenient location, within walking distance to the GO Station, the downtown core and all kinds of amenities, this cosy brick bungalow had undergone several important upgrades in the last decade.

A new roof, insulation, furnace, and doors have improved the home’s efficiency, and updated flooring and several new appliances added to the home’s appeal.

Given that the home is located on a rather sizeable pie-shaped lot that featured a fully fenced, private backyard in a pretty densely populated part of the city, it’s no surprise that the house sold for well over asking.

The average sale price for homes in Hamilton is currently $1,008,696, which represents a year-over-year increase of 22 per cent, the Zoocasa data shows.

Prices are being driven by an increase in demand for properties while the supply of available homes dwindles.

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