Ajax neighbourhood cracks top five most overbid neighbourhoods in Ontario

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Published January 13, 2023 at 12:07 pm

Ajax's Applecroft neighbourhood -via Google Maps.

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;

  1. Markham’s Berczy Village – Average of 23 per cent/$225,000 over asking
  2. Ajax’ Applecroft – Average of 14 per cent/$148,000 over asking
  3. Markham’s Raymerville – Average of 14 per cent/$135,100 over asking
  4. Richmond Hill’s Rouge Woods – Average of 10 per cent/$137,550 over asking
  5. Oakville’s Glen Abbey – Average of 8 per cent/$129,501 over asking

Meanwhile, the most underbid neighbourhoods are;

  1. Toronto’s Deer Park – Average of 10 per cent/$149,000 below asking
  2. Vaughan’s Kleinberg -Average of 8 per cent/$163,500 below asking
  3. North York’s Hogg’s Hollow – Average of 7 per cent/$219,000 below asking
  4. Mississauga’s Sheridan Park – Average of 7 per cent/$151,500 below asking
  5. Oakville’s West Oakville – Average of 7 per cent/$109,000 below asking
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