Two Oakville neighbourhoods among highest in GTA for underbidding

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Published November 3, 2022 at 5:44 pm

real estate in mississauga
An Oakville neighbourhood leads the GTA when it comes to homes selling below their asking price. INHALTON.COM PHOTO

Two Oakville neighbourhoods are among the top five locations in the GTA when it comes to selling a home well below the asking price.

According to October data from real estate agency Wahi’s Market Pulse Tool, two of the top five neighbourhoods for underbidding were in Oakville.

It found that 86 per cent of nearly 400 GTA neighbourhoods were in underbidding territory last month.

Oakville’s Eastlake neighbourhood, which includes Cornwall Road to the north, Winston Churchill Boulevard to the east, Lake Ontario to the south and Chartwell Road to the west, was found to have the biggest price discrepancy at an average of 10 per cent.

Homes in Eastlake were selling $307,500 below the listed asking price.

Oakville’s Iroquois Ridge North neighbourhood, which includes Dundas St. to the north, Upper Middle Rd. to the south, Highway 403 to the east and Trafalgar Rd. to the west, had the third biggest fall there at 8 per cent.

Homes there last month were going for $159,000 below the asking price.

Toronto’s Forest Hill at 9 per cent ($169,000), North York’s York Mills at 6 per cent ($274,000) and Toronto’s Lawrence Park at 6 per cent ($197,499) were the other top five under priced neighbourhoods on the list.

Wahi’s Market Pulse Tool compares sold and listed prices in nearly 400 GTA neighbourhoods.

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