Home sees an over $200K price jump in Oshawa

Cooler real estate markets across many regions in Ontario have led to price fluctuations, and in Oshawa this summer, the trend has been mixed, with some homes seeing not just major price decreases but increases as well.

Many homebuyers are hesitant to enter the market due to still-high interest rates and many properties have had to adjust their initial prices, real estate brokerage Zoocasa said in a new report.

“While many home prices are dropping, properties in high-demand areas can still see price increases,” Zoocasa said.

In Oshawa, where prices have been impacted by broader economic factors, a property at 1731 Arborwood Dr. saw a substantial price jump this summer.

The four-bedroom, five-bathroom detached home was initially listed at $1,199,900 on July 22, 2024. However, after 10 days on the market, the price was adjusted to $1,399,000 by Aug. 1—a nearly $200,000 increase.

Located in one of Oshawa’s most sought-after neighbourhoods, this home offers a range of high-end features, including a gourmet kitchen, servery, and a custom-built pantry.

The main floor boasts an open-concept layout with nine-foot ceilings, while each bedroom upstairs has a walk-in closet and organizer.

“The second level includes three additional bathrooms and a loft, adding to the property’s appeal,” according to the listing details.

This price increase comes at a time when the average house price in Durham Region last month was just under $1 million.

Recent reports indicate that while Oshawa has some of the least expensive homes in the area, municipalities such as Whitby, Uxbridge, and Scugog are seeing higher average prices.

See the full post from Zoocasa here

Photos: Homelife/GTA Realty Inc., Brokerage