North Oshawa bungalow sells for more than $500,000 over asking
Published February 25, 2022 at 12:54 pm
A Jane Avenue bungalow in North Oshawa sold for more than $500,000 over asking last week, fetching $1.38 million from an listed price of $849,000.
The duplexed bungalow features three bedrooms and two bathrooms. The basement is a fully separate apartment with a separate entrance out back.
The home also features a fireplace, central air conditioning and parking space for five vehicles, though there is no garage. The backyard is fenced and there are no neighbours to the back.
The house sits in the Glens neighbourhood just South of the Oshawa Executive Airport. The home is accessible from Rossland Road to the south.
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Brookside Park is a short walk east down Jane Avenue. Further to the east is Somerset Park through which runs the Oshawa Creek. The home is close to numerous amenities and services with the Oshawa Golf and Curling Club just to the south and Lakeridge Hospital a little further that direction.
It’s also a stones throw from multiple schools. S.J. Phillips Public to the East, St. Christopher Catholic to the South and Monsignor Paul Dwyer Catholic High to the West are all within 1.5 kilometres.
The home last sold in June 2018 for $522,000. Since that time the house has been heavily renovated, with pot lights, laminate flooring and an open concept kitchen added.
For the most recent sale the home was listed at $849,000, well below the estimated value of $1.34 million. After seven days on the market, the sale closed at $1.38 million exceeding the estimated value by $44,000.
Comparable homes in the area have gone for between $825,000 and $1.35 million since last August, meaning this home now sets the upper end record for the neighbourhood.
Home prices in the Northglen have shot up dramatically in the last two years. Per HouseSigma, a real estate tracker, median prices in the community hovered around $600,000 in early 2020 and have risen to more than $1.2 million.
The price jump in the Northglen neighbourhood exceeds the growth seen in Oshawa as a whole, with prices rising from lower than the city’s median to exceeding the current median prices.
Housing costs in Oshawa more broadly have risen sharply over the pandemic period. Real estate racker Zolo indicates median prices city-wide have gone from around $770,000 in April 2021 up to $1.07 million as of February 15.
