1850 Auction was a success

1850 Auction sells all 35 units

1850 Auction sells all 35 units

1850 auction at Weston

The auction was lots of fun to watch and i wasn't surprised to see all 35 units sell. I suspected to see the units sell for about 75% of asking and i was almost right. The average went from 61% all the way up to almost 80% of asking with the majority of units selling for around 74% of asking price. Many of the smaller sized units around 700sqft had the lowest priced bids starting at $175k and they went for the closest to asking.

What surprised me the most was the sale of unit 508, my personal favorite, at only $361k. This unit was a corner with city and highway views it had a large brick area for a bedroom and another nook for a second bedroom. The unit had 1,058 sqft with an origional listing priace at $585k, that means it sold for 61% of the asking price. It was good to see over 300 people came out for the auction and there was alot of competition between bidders. 35 lucky buyers along with their friends and family went home happy that night and a lot more went home disappointed. Don't worry though there are more deals to come this year and next. If anybody wants a complete list of all the sales prices please let me know.

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