Kathy Foch | Broker Daniel Foch | Sales Rep GEORGINA REAL ... · 4/5/2016 · Homes for sale in...

GEORGINA REAL ESTATEMARKET REPORT

Kathy Foch | Broker

Daniel Foch | Sales Rep.

[email protected]

905.251.5483

www.fochfamily.com

461 The Queensway South

Keswick, Ontario L4P 2C9

April, 2016

April 2016Georgina Real Estate Market Report

461 The Queensway SouthKeswick, Ontario L4P 2C9905.476.4337

Daniel Foch, Sales [email protected]

905.251.5483

>> Neighbourhood Map

BELBelhaven

BALBaldwin

SJP Sutton & Jackson’s Point

V - Virginia

P Pefferlaw

HLC – Historic Lakeshore Communities

KSKeswick

South

KNKeswick

North

Area Avg. List Avg. Sale Med. List Med. Sale

Baldwin $380,129.00 $388,243.00 $408,000.00 $420,000.00

Belhaven $449,900.00 $452,000.00 $449,900.00 $452,000.00

Historic Lakeshore Communities $716,267.00 $685,660.00 $479,000.00 $457,000.00

Keswick North $569,262.00 $569,172.00 $542,450.00 $536,000.00

Keswick South $497,951.00 $514,572.00 $492,500.00 $506,221.00

Pefferlaw $424,572.00 $422,200.00 $369,900.00 $379,900.00

Sutton & Jackson's Point $544,292.00 $535,459.00 $459,900.00 $470,000.00

Virginia $324,900.00 $328,400.00 $324,900.00 $328,400.00




905.251.5483

All data sourced from Toronto Real Estate Board. Not intended to solicit properties already listed for sale or individuals under contract with a brokerage.

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BAL BEL HLC KN KS PEF SJP V

Pricing Trends

Avg. List Avg. Sale Med. List Med. Sale S/L Ratio

Volume Rebound of Homes for Sale in Keswick Homes for sale in Keswick South experienced a strong rebound in April of 2016. Keswick North also usurped Sutton & Jackson’s Point as the second-highest volume real estate neighbourhood in Georgina. This volume rebound of home sales in Keswick has consolidated its strength to set precedence within the Georgina real estate market. A total of 150 homes sold in Georgina in April 2016:• 7 home sold in Baldwin• 1 home sold in Belhaven• 15 homes sold in Historic Lakeshore Communities• 32 homes sold in Keswick North• 57 homes sold in Keswick South• 9 homes sold in Pefferlaw• 27 homes sold in Sutton & Jackson’s Point• 2 homes sold in Virginia




905.251.5483The average price of a home in Georgina increased substantially from $456,662 in April 2016 to $530,335 in May 2016, outlining the larger and more prominent role that Georgina real estate plays in the regional economy of York Region and the Greater Toronto Area.

This increase in average price has occurred as a result of excess demand and limited supply, pushing an increasing majority of homes for sale into higher price ranges and multiple offer situations. Based on the swift increase over the $500,000 average price point, we can expect that the annual average price of real estate in Georgina will fall over $500,000.


Average price blows past $500,000

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Number of Sales & Days on Market

Number of Sales Days on Market

5%

1%

10%

21%

38%

6%

18%

1%% of Total Sales

BAL

BEL

HLC

KN

KS

PEF

SJP

V

3 3 3 3 3 3 3 3

2 1 2 3 3 2 31

B A L B E L H L C K N K S P E F S J P V

AVERAGE SIZE OF A HOME SOLD BY AREA

Bedrooms Washrooms




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$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000


High/Low Sales vs. Average/Median Sales

High Low Avg. Sale Med. Sale

Increasing demand for larger homesWith many families making the move within the spring market to time closings around the summer and school year, larger homes are the most popular real estate transaction in Georgina during this time.

Because of this demand factor, the real estate market in Georgina could be relatively inflated, with average price serving as a representation of a specific asset category or buyer group, rather than the real estate market in its entirety.

Georgina’s higher-end real estate market seems to be making its presence known in the spring market, as lakefront buyers begin to emerge with the summer closing in. An increasing number of homes in the $1m+ range have been seen transacting in most lakefront communities in Georgina, moving the high end of the price range further and further above the average and median price in the area.

This tells us that Georgina’s real estate market is beginning to more accurately reflect other markets within the GTA, settling into a more income-restrictive average price and low-end market, with a flourishing luxury real estate market in Georgina. This is beginning to push buyers in lower price points into markets outside of Georgina and to areas like Virginia within Georgina, where the high-low split parallels average.

Growing high/low price gap

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Number of Sales & List to Sale Ratio

Number of Sales S/L Ratio




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Lack of inventory persists

BAL

BEL

HLC

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SJP

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Avg. List

Avg. Sale

Med. List

Med. Sale

High

Low

Foreign investment is beginning to play a larger role in the real estate market in, demonstrating the strength and quality of real estate investment in Georgina, and the municipality’s growing role in the Greater Toronto Area’s regional economy. This translates to increased demand in the following areas:• Lakeside and Waterfront properties: buyers with southern

GTA real estate demand are often coming to Georgina for luxurious appeal and natural heritage.

• Subdivision homes: subdivision homes for sale in Georgina deliver immense advantages to buyers, with newer and higher quality supply, larger lots, and lower traffic.

• Rural properties: buyers from outside of Georgina have expressed a keen interest in land banking, and capitalizing on larger property sizes available in the Georgina market.

Strong Presence of Foreign Investment

Despite reaching a record number of transactions and a record price point, there is a clear excess demand in the market, with an increasing average number of offers on properties listed for sale in Georgina.

This reality, among a host of other demand factors, give us the indication that the Georgina real estate market is underprepared to properly cope with the demand it is currently faced with. The recently opened new home supply pipeline is relieving a good portion of this demand, but new home sales and new residential developments continue to sell at record rates, and demand for resale homes continues to push house prices in Georgina even higher.

Without any indication of any upcoming systemic changes to the Canadian economy, and monetary and fiscal policy, we expect this trend to continue indefinitely until said changes occur.




905.251.5483


The Average House Has...

Average Sold 3 Bedrooms

Sale/List Listings

101 17 150 2 Washrooms

Average For the full report contact:

Days on Market [email protected]

530,808$ 472,400$

Average Sale Price Median Sale Price

532,751$ 476,000$

Average List Price Median List Price

Georgina, Ontario

%

Field Mean Median Low High

List Price $530,335 $476,950 $58,000 $1,879,000

Original Price $530,808 $472,400 $58,000 $1,879,000

Sold Price $532,751 $476,000 $48,000 $1,725,000

%Difference 101 100 79 122

Taxes $3,862 $3,267 $1 $15,712.09

Bedrooms 3 3 2 7

Washrooms 2 2 1 6

Days on Market 17 8 1 184

Georgina





905.251.5483




905.251.5483


www.fochfamily.com 905.251.5483



Sale/List Listings




380,129$ 408,000$


388,243$ 420,000$


Baldwin

%


List Price $380,129 $408,000 $157,500 $499,500

Original Price $380,129 $408,000 $157,500 $499,500

Sold Price $388,243 $420,000 $141,000 $488,000

%Difference 102 99 90 116

Taxes $2,569 $2,552 $1,806.66 $3,324.83

Bedrooms 3 3 2 3

Washrooms 2 2 1 3


Baldwin





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905.251.5483




Sale/List Listings

100 3 1 1 Washrooms



449,900$ 449,900$


452,000$ 452,000$


Belhaven

%


List Price $449,900 $449,900 $449,900 $449,900

Original Price $449,900 $449,900 $449,900 $449,900

Sold Price $452,000 $452,000 $452,000 $452,000

%Difference 100 100 100 100

Taxes $2,620 $2,620 $2,620 $2,620

Bedrooms 3 3 3 3

Washrooms 1 1 1 1


Belhaven





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905.251.5483 The Average House Has...


Sale/List Listings




716,267$ 479,000$


685,660$ 457,000$


Historic Lakeshore Communities

%


List Price $716,267 $479,000 $269,900 $1,579,000

Original Price $716,267 $479,000 $269,900 $1,579,000

Sold Price $685,660 $457,000 $260,000 $1,505,000


Taxes $6,286 $3,441 $1,731.06 $15,712.09

Bedrooms 3 3 2 7

Washrooms 2 2 1 6


Historic Lakeshore Communities





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Sale/List Listings





Keswick North


542,450$ 569,262$

569,172$ 536,000$

%


List Price $569,481 $542,450 $299,900 $1,488,888

Original Price $569,262 $542,450 $299,900 $1,488,888

Sold Price $569,172 $536,000 $309,000 $1,400,000

%Difference 100 100 87 112

Taxes $3,905 $3,500 $1,999.68 $8,304

Bedrooms 3 3 2 4

Washrooms 3 3 1 4


Keswick North





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Sale/List Listings




497,951$ 492,500$


514,572$ 506,221$


Keswick South

%


List Price $497,561 $492,500 $295,000 $899,000

Original Price $497,951 $492,500 $295,000 $899,000

Sold Price $514,572 $506,221 $295,000 $908,000

%Difference 103 100 84 122

Taxes $3,390 $3,200 $1 $6,588.67

Bedrooms 3 3 2 5

Washrooms 3 3 1 4


Keswick South





905.251.5483







Sale/List Listings





Pefferlaw

424,572$ 369,900$


422,200$ 379,900$

%


List Price $420,261 $369,900 $259,800 $650,000

Original Price $424,572 $369,900 $259,800 $698,800

Sold Price $422,200 $379,900 $285,000 $651,000

%Difference 101 100 92 111

Taxes $2,939 $2,742 $793.90 $5,572.22

Bedrooms 3 3 2 4

Washrooms 2 1 1 3


Pefferlaw





905.251.5483







Sale/List Listings





Sutton & Jackson's Point

544,292$ 459,900$


535,459$ 470,000$

%


List Price $543,663 $459,900 $58,000 $1,879,000

Original Price $544,292 $459,900 $58,000 $1,879,000

Sold Price $535,459 $470,000 $48,000 $1,725,000


Taxes $4,280 $3,557 $405 $12,484.53

Bedrooms 3 3 2 6

Washrooms 3 3 1 4


Sutton & Jackson’s Point





905.251.5483







Sale/List Listings





Virginia

324,900$ 324,900$


328,400$ 328,400$

%


List Price $324,900 $324,900 $269,900 $379,900

Original Price $324,900 $324,900 $269,900 $379,900

Sold Price $328,400 $328,400 $267,000 $389,800

%Difference 101 101 99 103

Taxes $2,513 $2,513 $1,931.24 $3,095.02

Bedrooms 3 3 2 3

Washrooms 1 1 1 1


Virginia





905.251.5483

Sales Representative

T: 905-251-5483E: [email protected]

Royal LePage2015 Rookie of the Year Award Winner for new agents

Daniel Foch

Broker

T: 905-476-4337E: [email protected]

Royal LePage2015 Diamond Award Winner Top 3% in Canada

Kathy Foch

CONTACT US.


Kathy Foch | Broker Daniel Foch | Sales Rep GEORGINA REAL ... · 4/5/2016 · Homes for sale in...

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