Sale prices are holding relatively steady and properties priced at their true fair market value are selling quickly.
33/35 Glenmore Drive
This property sold at the peak of the market, October 28, 2015.
It was two properties sold together that had previously been subdivided, all servicing costs had been paid by the Seller.
Sale Price: $3,152,000
29/31 Glenmore Drive
Sold October 26, 2016 at the bottom of the market. This property, in addition to the list price contained subdivision risk as it requires subdivision, servicing costs to be paid by the Buyer and an immense amount of time and effort to complete the subdivision.
Sale Price: $2,925,000
On its face, it appears that 29/31 Glenmore sold at a significant discount due to the deflated market conditions at the time. This in fact is not true. In actuality, 29/31 Glenmore sold at a significant premium over the latter even in these uncertain times.