Home price jumps more than $200K to over $3M in less than a month in Brampton

House sales took a tumble in Brampton last month leading real estate watchers to predict more competitive asking prices, but at least one property listed a little over a month ago is bucking the trend and has already jumped more than $200,000.

The four-bedroom, four-bathroom home is on Classic Drive in Brampton and boasts some $300,000 in upgrades, parking space for nine vehicles, and an upgraded kitchen described as “every chef’s dream” complete with custom cabinets and pantry, an extended island with a bamboo butcher block, and high-end built-in Miele appliances.

A new report from real estate website Zoocasa looked at five homes that saw price drops, including the Classic Drive listing in Brampton. The other homes on the list were found in Oshawa, Innisfil and Scarborough.

Located in a quiet cul-de-sac in the Credit Valley next to Lionhead Golf Course, the home has 12-foot ceilings on the main floor, a master bedroom with a six-piece ensuite with jet tub, a dressing room, and a private balcony, the listing on real estate website Zoocasa reads.

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Below ground is a finished basement featuring a full home theatre room, while the two-car garage has upgraded epoxy flooring, custom cabinetry and a large driveway with space to park up to six more vehicles.

The property is also fully landscaped with an in-ground sprinkler system.

The home was listed back in July for $2,899,988 but relisted in August for $3,100,000 – a jump of more than $200,000.

Detached homes, townhouses, and semi-detached properties in Brampton all saw double-digit declines in sales last month. And when compared to June, townhouse sales plummeted by more than 33 per cent, while semi-detached and detached home sales dropped by 22.3 per cent and 16.8 per cent respectively.

More Brampton properties also spent longer on the market, with condo apartments spending the most time up for sale at 36 days, followed by condo townhouses at 28 days and detached homes at 21 days.

The drop in sales had real estate website Zoocasa and the Toronto Regional Real Estate Board saying potential buyers had plenty of options to choose from, meaning sellers “may need to be more flexible and strategic to find the right buyer.”

To see the full report or to view more listings like this one visit www.Zoocasa.com.