A home in Scarboro slated for demolition sold yesterday for $55,000 OVER list price. It was listed at $850,000 and was only on the market for two days.
Over list price
Over the past two days, 23 homes have sold for list price or higher. That’s 16% of total SFH sales. A home in Citadel which was listed for $424,900 went for $431,000. It was purchased in 2000 for $186,000.
A home which was purchased six months ago for $460,000 in Maple Ridge sold yesterday for $575,900.
Supply and demand
We’re down about 800 listings, or approx 17% from where the inventory usually is at this time of year. With April sales up 30%, it shouldn’t surprise anyone that homes are selling over list price. SFH inventory has increased by 32% since Dec 31. Last year in the same period, it was up 60%.