From January 1, 2011 to January 1, 2012 there were 310 properties sold in Glen Abbey for a gross price of $160,000,000. This appears to be a large number, but the number of properties sold actually dropped last year, and the forecast for 2012 is for a repeat of 2011.
Detached homes accounted for 69% of the dollar sales and 50% of properties sold. The average detached home in Glen Abbey sold for $724,000 and was on the market for 23 days. The lowest price paid for a detached was $360,000 and the highest was $1,340,000.
Townhomes accounted for just over 18% of the dollar sales and 25% of the properties sold. The average townhome in Glen Abbey sold for $379,000 in 27 days. The highest price paid for a townhome was $770,000 and the least was $252,0000.
Apartments in Glen Abbey accounted for just under 13% in dollars sold and 25% of the total number of sales. The average apartment in Glen Abbey sold for $239,0000 in 38 days. The lowest price paid for an apartment was $181,000 and the highest paid was $415,000.
Glen Abbey continues to be a great family neighborhood with excellent schools, great parks and a strong recreation centre. As the number Glen Abbey homes for sale remain light – prices will continue to rise. The greatest demand for properties in the neighborhood are still those that have been fully renovated. Looking at history is helpful in order to understand what is likely going to happen in the future, but residential real estate prices can be strongly effected by economic and environmental conditions; so always consult a realtor before making a decision about selling, purchasing or renovating.
Tags: glen abbey
About the author: Nolan Machan
Nolan Machan is a dedicated Oakville residential realtor, who has a healthy roster of happy buyers and sellers. He is passionate about meeting the needs of his clients using his depth of Oakville knowledge, and years of marketing and negotiating skill.
Follow
Subscribe