House in Blair sells for over $700,000 over asking price

A home in the Blair neighbourhood of Cambridge has sold for $710,000 over asking.

According to real estate website, Zolo.ca, the house was listed Apr. 11 for $1,500,000.

The custom-built luxury bungalow located at 24 Joan Lane, sold Apr. 18 for $2,210,000.

The property features close to 6,000 sq. ft. of living space, five bedrooms, five bathrooms and a three-car garage.

Brian Ellis is a Real Estate Broker with the Brian Ellis Sales Team at Keller Williams and he says the previous owners were looking for a quick sale.

“In this neighbourhood of Blair, some of these homes have taken over a year to sell,” said Ellis, “it sold within one week. It was staged beautifully, took great photos, made an exciting video with drone shots and really connected with that emotional appeal.”

Ellis adds this situation of a luxury home selling in a week isn’t typical for the market.

“I’ve never really seen anything quite like this before,” he said, “homes don’t really sell this much over-asking. It’s extremely rare, extremely rare.”

Ellis believes that the market is starting to come back given that luxury homes usually take a little bit longer to make a sale on.

“I think it does show that the market is kind of back,” he said, “it’s very strong, I think it does show that people aren’t as scared as maybe they used to be at the end of 2022.”

The home includes an in-ground pool with an outdoor shower, and features over an acre of land.