Five Ontario cities where houses are selling most above asking have been revealed
The top five Ontario cities where homes are selling the most above their asking price have been revealed and surprisingly, Toronto didn't make the list.
A new report released by Zoocasa this week calculated the percentage difference between the average sold price and the average list price in 29 cities across Ontario for the month of September.
According to the report, the calculations reveal the largest difference in the list price and sold price is occurring in markets where the average home price is below $1 million.
The report found that Ottawa tops the list for homes selling over asking, with a 27 per cent difference on average.
The average listing price of a home in Ottawa in September was $523,842 but the average selling price was $669,874.
Next on the list was Whitby, where the average list price was $938,831 and the selling price was $1,092,945.
Windsor, Oshawa and Ajax were next on the list. Homes in those regions sold between 16 and 13 per cent above asking in September.
"Three of the top five markets are located in the Durham Region, long considered a hot alternative to the City of Toronto, at a commutable distance," the report said.
The report found that in September, housing in Toronto sold on average seven per cent under asking. The average price was $1,191,064 and the selling price was $1,033,373.
To view the full report click here.
CTVNews.ca Top Stories
Doctors say capital gains tax changes will jeopardize their retirement. Is that true?
The Canadian Medical Association asserts the Liberals' proposed changes to capital gains taxation will put doctors' retirement savings in jeopardy, but some financial experts insist incorporated professionals are not as doomed as they say they are.
Something in the water? Canadian family latest to spot elusive 'Loch Ness Monster'
For centuries, people have wondered what, if anything, might be lurking beneath the surface of Loch Ness in Scotland. When Canadian couple Parry Malm and Shannon Wiseman visited the Scottish highlands earlier this month with their two children, they didn’t expect to become part of the mystery.
Fair in Ontario, flurries in Labrador: Weather systems make for an erratic spring
It's no secret that spring can be a tumultuous time for Canadian weather, and as an unseasonably mild El Nino winter gives way to summer, there's bound to be a few swings in temperature that seem out of the ordinary. From Ontario to the Atlantic, though, this week is about to feel a little erratic.
'It was instant karma': Viral video captures failed theft attempt in Nanaimo, B.C.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
Quebec nurse had to clean up after husband's death in Montreal hospital
On a night she should have been mourning, a nurse from Quebec's Laurentians region says she was forced to clean up her husband after he died at a hospital in Montreal.
Northern Ont. lawyer who abandoned clients in child protection cases disbarred
A North Bay, Ont., lawyer who abandoned 15 clients – many of them child protection cases – has lost his licence to practise law.
An Ontario senior thought he called Geek Squad for help with his printer. Instead, he got scammed out of $25,000
An Ontario senior’s attempt to get technical help online led him into a spoofing scam where he lost $25,000. Now, he’s sharing his story to warn others.
Cuban government apologizes to Montreal-area family after delivering wrong body
Cuba's foreign affairs minister has apologized to a Montreal-area family after they were sent the wrong body following the death of a loved one.