This house in Brampton just sold way above asking price
This home just sold in Brampton for $166,000 above asking price.
The home, a small detached O Lot Line, located at 9 Holmstead Court had an initial asking price of $400,000 and sold for $566,000.
In total, the house received 225 showings and 77 offers.
According to Paula Mitchell from Mitchell Saldanha Real Estate, 8 more offers came through after the final one had been accepted.
Mitchell believes the house sold way above asking price due to the initial price being an average price that many buyers can afford. The home itself also needed a lot of work.
The number of showings and offers is a clear indicator of the competitiveness that exists in the real estate market in Brampton.
“It’s definitely getting more competitive due to the lack of inventory,” said Mitchell.
Do you plan on purchasing a home in Brampton this year?
Photo courtesy of Mitchell Saldanha Real Estate
- LATEST: Ontario and Brampton COVID-19 numbers as of April 5, 2020
- CAUGHT ON VIDEO: Crews on scene for fire at abandoned Brampton residence
- Troops hit the road to prepare for fight against COVID-19
- Ontario reports over 4,000 cases of COVID-19, over 200 cases confirmed in Brampton
- Application process for emergency benefits for workers begins this morning
- Massive Mansion Sold for $100,000 Over Asking Price in Brampton
- Stats Show Buyers Afraid of Real Estate Market in Brampton and Beyond
- Brampton House Price Increase Spreading Beyond the GTA
- PHOTOS: Brampton Mansion Sells for "Record-Setting" Price
- Brampton House of the Week: Massive $5.6 Million Custom Estate Home