Oshawa condos take all five spots for least expensive homes sold in Durham last month

While the high-end properties sold last month in Durham were all in the rural north part of the region, Oshawa condos and apartments took the spotlight for the least expensive properties sold.

All five of the cheapest bargains to be had in January were sold in Oshawa, starting with a condo studio apartment in north Oshawa at 1900 Simcoe St. N which sold for just $305,500.

The 500 square-foot apartment is located near Durham College and Ontario Tech University and was likely purchased to rent out to students.

Number two on the list is an 800 square-foot one-bedroom condo in downtown Oshawa at 44 Bond St. W that sold for $550,000.

Number three is at 363 Simcoe St. N near the hospital which sold for $596,000. The 1,200 square-foot, 2-bedroom apartment sold for $200,000 over asking.

Number four was a 1,200 sq. ft, 3-bedroom townhouse at 1010 Glen Street in south Oshawa that sold for $600,000 – also 200,000 over asking.

44 Bond St. W Oshawa

All five properties on this list sold for over asking, including number five, which sold for $617,000 – $217,000 over asking. (The huge discrepancies between asking and selling prices likely reflect a common ploy among realtors to undervalue homes to spark a bidding war.) This was a condo apartment at 43 Taunton Rd E in the north end that boasted three bedrooms and three bathrooms and 1,200 square feet of living space.

There were 609 total transactions in Durham, down slightly (six per cent) from last year, while total new listings are down 25 per cent year-over year, according to a report from Zoocasa Realty Inc.

The average price for a property in the Region climbed to $1,175,010 last month, up 34 per cent, year-over-year.

Zoocasa Realtor Prasath Selvarajah, who serves the Durham area, says the selling price way-over-asking trend is expected to continue because of an “incredibly hot market in Durham over the last few months” and low housing inventory.

“We’re regularly seeing properties get 15-25 offers on offer nights and receiving upwards of 35 offers is not uncommon,” she said. “In today’s competitive market more than ever, it’s important to keep in mind that being persistent in your house hunt will pay off.”