Wednesday, April 08, 2020

A look at new construction, 1st quarter home sales in Bowmanville (up 200%!)

New construction on three contiguous houses continues yesterday on the 5300 Block of North Bowmanville Avenue in the Bowmanville neighborhood of Lincoln Square. All photos Eric Rojas, Broker, Kale Realty
Since the late 1990's Bowmanville has seen many new construction single family homes replace the smaller frame cottages known for the area. It's rare however to see three contiguous new homes built.
5349-51 N Bowmanville Avenue closed last October for $765,000 by Bowmnaville Development LLC. A loan of about $1.73M was taken out on the property.  The property consisted of three contiguous lots measuring 75 feet across (they are shorter than standard lots). An old frame two-flat was torn down.

5349-51 N Bowmanville Ave house construction early this year.
Bowmanville neighborhood of Lincoln Square.  I base the sales stats on the above area.
Bowmanville single family home sales
Three houses sold 1st quarter 2020. That's a 200% unit sale increase over the same period of 2019! How about that!? Only one house sold 1st quarter 2019.
In 2018, ten homes sold in the 1st quarter with a median price of about $775,000.
In 2017, three homes sold 1st quarter.
In 2016, five homes sold in 1st quarter.
In 2015, seven homes sold 1st quarter with a median price of $830,000.

Only two houses are currently under contract in the neighborhood. Eight homes are currently listed for sale on the MLS (I've seen about three or so more houses listed in Private Listing Network of the MLS and Top Agent Network that is only open to Top 10% of Brokers who subscribe). Going to be a slow year for unit sales 😐

Early this year, anecdotally speaking, I noticed single family home new construction and complete gut renovation activity was greater than in the past couple years around Bowmanville/ Lincoln Square. It will be interesting to see how sales shake out after the outbreak quiets down later this year. 

No comments: