Kathy Foch | Broker Daniel Foch | Sales Rep GEORGINA REAL ... · 5/6/2016 · Homes for sale in Keswick continued to lead the way in regards to transaction volume for the month of

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

May, 2016

May 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

PEF Pefferlaw

HLC – Historic Lakeshore Communities

KSKeswick

South

KNKeswick

North

94

95

96

97

98

99

100

101

102

103

104

$-

$200,000.00

$400,000.00

$600,000.00

$800,000.00

$1,000,000.00

$1,200,000.00

$1,400,000.00

BAL BEL HLC KN KS PEF SJP V

Pricing Trends

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

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

Baldwin $ 652,888.00 $ 637,625.00 $ 693,900.00 $ 664,000.00

Belhaven $ 1,174,133.00 $ 1,171,667.00 $ 797,500.00 $ 785,000.00

Historic Lakeshore Communities $ 656,340.00 $ 626,693.00 $ 424,900.00 $ 420,000.00

Keswick North $ 528,989.00 $ 538,938.00 $ 504,900.00 $ 521,063.00

Keswick South $ 497,363.00 $ 507,468.00 $ 449,900.00 $ 460,000.00

Pefferlaw $ 439,562.00 $ 434,000.00 $ 379,900.00 $ 380,000.00

Sutton & Jackson's Point $ 523,388.00 $ 511,864.00 $ 479,900.00 $ 476,000.00

Virginia $ 545,810.00 $ 533,000.00 $ 369,900.00 $ 358,000.00




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.

Steady Growth in Volume Homes for sale in Keswick continued to lead the way in regards to transaction volume for the month of May, taking an increasing majority of total volume of homes sold in Georgina. As realized last month, this consistent market leadership has continued throughout the spring market, with higher total inventory available in Keswick as the main driver for this conclusion. Total homes for sale in Georgina increased by 9 units for a total of 159 homes sold in Georgina in May:• 8 homs sold in Baldwin• 3 home sold in Belhaven• 15 homes sold in Historic Lakeshore Communities• 36 homes sold in Keswick North• 51 homes sold in Keswick South• 13 homes sold in Pefferlaw• 24 homes sold in Sutton & Jackson’s Point• 9 homes sold in Virginia




905.251.5483It appears as though the market has settled on a “new normal” average price for homes in Georgina, in the $500,000 range. During April, the apex of the Spring Market, we witnessed price growth in the 10-20% range across the board in Georgina.

Seeing the slowing price growth tells us that this price increase was likely the result of a clear Spring Market manifestation, a shift in the type of home being demanded in the market, with families playing a large role in the buying decision during the school year, aiming for summer closings, pushing first-time homebuyers, downsizers, and empty nesters out for the time being.


Slowing Price Growth & Differing Demand

5%

10%

23%

33%

8%

15%

6%

% of Total Sales

BAL

BEL

HLC

KN

KS

PEF

SJP

V

0

10

20

30

40

50

60

0

10

20

30

40

50


Day

s o

n M

arke

t

Number of Sales & Days on Market

Number of Sales Days on Market




905.251.5483


Consistent home type demanded by the marketIt comes as no surprise that the Spring Market, dominated by families, is characterized by a specific type of home that is suitable for the buyer group that leads the demand pool. With only one anomaly in Baldwin, the average transaction of Georgina Real Estate in May was a 3 bedroom, 2 bathroom home, presumably because families are in need of the extra space and the extra bathroom.

Larger homes have now become a commonplace transaction in Georgina, and a number of renovation projects and flips have capitalized on this demand trend by converting smaller traditional cottages to larger four-season homes.

Continuing the conclusions from last month’s report, higher-end and luxurious properties have played a consistent role in Georgina’s Spring Market. The increasing high-end of the price point has demonstrated Georgina’s position in the regional economy for luxurious homes, especially lakefront and rural properties.

The larger spread in the high-end of the market has seemingly propped up the low-end of the high/low sales index, with the low-end price average now sitting above $250,000. This tells us that land values in Georgina are rising substantially based on the market’s demand, more accurately reflecting the premium charged for York Region real estate and Greater Toronto Area real estate, with Georgina’s role in the regional economy manifesting in a very favourable manner for homeowners.

Massive Surge in Higher Price Ranges

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000


High/Low Sales vs. Average/Median Sales

High Low Avg. Sale Med. Sale

4 3 3 3 3 3 3 3

32 2 2 2 2 2 2

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 BY AREA

Bedrooms Washrooms




905.251.5483


Increasing inventory and days on market

Foreign investment has continued to play a large role in the market for real estate in Georgina, with a large number of buyers coming from southern markets in York Region, Toronto, and overseas.

The increasing land value and availability of substandard quality structures has created the perfect storm of opportunity for those seeking real estate investment in Georgina. We’ve seen an increase in the number of homes being renovated and flipped, and a massive increase in the investment upside available to individuals renovating and flipping homes in the Georgina real estate market.

Foreign Direct Investment Continues

Continuing upon last month’s record number of monthly transactions, May 2016 has brought a noticeably greater number of homes for sale in Georgina, with sellers seemingly poised to capitalize on the hot spring market.

The strong sellers market has attracted a number of homeowners in Georgina towards listing and changing their real estate investment position. The larger number of homes for sale has had a marginal, but noticeable effect on overall price growth, another shift has come in average days on market, with the average number of days on market increasing by 5.9% since April.

Homes for sale in Georgina do seem to be transacting relatively slower in comparison to last month, and the average sale to list ratio has decreased substantially from 105% to 101%, telling us that the market has corrected in favour of the “new normal” higher average price, and the excessive spending above list price is slowing.

0

10

20

30

40

50

60

94

95

96

97

98

99

100

101

102

103

104


Number of Sales & List to Sale Ratio

Number of Sales S/L Ratio

BAL

BEL

HLC

KN

KS

PEF

SJP

V

Avg. List

Avg. Sale

Med. List

Med. Sale

High

Low




905.251.5483


The Average House Has...

Average Sold 3 Bedrooms

Sale/List Listings

101 18 159 2 Washrooms

Average For the full report contact:

Days on Market [email protected]

540,370$ 479,900$

Average Sale Price Median Sale Price

541,024$ 480,000$

Average List Price Median List Price

Georgina, Ontario

%

Field Mean Median Low High

List Price $540,370 $479,900 $105,000 $2,199,900

Original Price $581,570 $480,000 $105,000 $6,690,000

Sold Price $541,024 $480,000 $90,000 $2,000,000

%Difference 101 100 83 127

Taxes $3,648 $3,190 $350 $15,712.09

Bedrooms 3 3 1 7

Washrooms 2 2 1 8

Days on Market 18 10 1 147

Georgina





905.251.5483




905.251.5483




Sale/List Listings

97 42 8 3 Washrooms



652,888$ 693,900$


637,625$ 664,000$


Baldwin

%


List Price $650,500 $693,900 $159,000 $1,349,000

Original Price $652,888 $693,900 $159,000 $1,349,000

Sold Price $637,625 $664,000 $143,000 $1,300,000

%Difference 97 97 90 103

Taxes $4,538 $4,310 $1,575.93 $9,443

Bedrooms 4 3 2 7

Washrooms 3 2 2 8


Baldwin





905.251.5483




905.251.5483




Sale/List Listings




1,174,133$ 797,500$


1,171,667$ 785,000$


Belhaven

%


List Price $1,174,133 $797,500 $749,900 $1,975,000

Original Price $1,174,133 $797,500 $749,900 $1,975,000

Sold Price $1,171,667 $785,000 $780,000 $1,950,000


Taxes $4,888 $4,566 $3,850 $6,246.75

Bedrooms 3 3 2 3

Washrooms 2 2 1 3


Belhaven





905.251.5483





905.251.5483 The Average House Has...


Sale/List Listings




656,340$ 424,900$


626,693$ 420,000$


Historic Lakeshore

Communities

%


List Price $651,007 $424,900 $259,999 $2,199,900

Original Price $656,340 $424,900 $259,999 $2,199,900

Sold Price $626,693 $420,000 $240,000 $2,000,000


Taxes $4,889 $3,223 $350 $15,712.09

Bedrooms 3 3 2 7

Washrooms 2 2 1 4


Historic Lakeshore Communities





905.251.5483




905.251.5483




Sale/List Listings




Keswick NorthAverage List Price Median List Price

504,900$ 528,989$

538,938$ 521,063$ Average Sale Price Median Sale Price

%


List Price $527,766 $504,900 $349,000 $998,888

Original Price $528,989 $504,900 $349,000 $998,888

Sold Price $538,938 $521,063 $355,000 $975,000

%Difference 102 102 96 114

Taxes $3,665 $3,620 $2,363.89 $6,422.83

Bedrooms 3 3 2 4

Washrooms 2 3 1 4


Keswick North





905.251.5483







Sale/List Listings




497,363$ 449,900$


507,468$ 460,000$


Keswick South

%


List Price $497,363 $449,900 $264,500 $1,600,000

Original Price $620,539 $449,900 $264,500 $6,690,000

Sold Price $507,468 $460,000 $245,000 $1,500,000

%Difference 103 101 91 115

Taxes $3,213 $3,188 $1,800 $5,249.89

Bedrooms 3 3 2 4

Washrooms 2 3 1 4


Keswick South





905.251.5483







Sale/List Listings





Pefferlaw439,562$ 379,900$


434,000$ 380,000$

%


List Price $435,708 $379,900 $189,900 $729,900

Original Price $439,562 $379,900 $189,900 $729,900

Sold Price $434,000 $380,000 $180,000 $700,000


Taxes $3,359 $3,073 $1,840.87 $5,855.76

Bedrooms 3 2 2 4

Washrooms 2 1 1 4


Pefferlaw





905.251.5483







Sale/List Listings





Sutton &

Jackson's Point

523,388$ 479,900$


511,864$ 476,000$

%


List Price $521,029 $479,900 $199,900 $1,150,000

Original Price $523,388 $479,900 $199,900 $1,150,000

Sold Price $511,864 $476,000 $200,000 $1,151,800


Taxes $3,456 $3,050 $1,772.85 $6,930.21

Bedrooms 3 3 1 4

Washrooms 2 2 1 5


Sutton & Jackson’s Point





905.251.5483







Sale/List Listings

97 31 9 2 Washrooms




Virginia545,810$ 369,900$


533,000$ 358,000$

%


List Price $543,700 $369,900 $105,000 $1,895,000

Original Price $545,810 $369,900 $105,000 $1,895,000

Sold Price $533,000 $358,000 $90,000 $1,835,000


Taxes $3,684 $2,876 $393.97 $11,923.42

Bedrooms 3 3 2 5

Washrooms 2 1 1 4


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.


Documents

Kathy Foch | Broker Daniel Foch | Sales Rep GEORGINA REAL ... · 5/6/2016 · Homes for sale in Keswick continued to lead the way in regards to transaction volume for the month of