Similar to last month, and despite land costs maintaining, we are seeing a growing wealth gap in Georgina’s real estate market, which we suspect is as a result of luxury utility being drawn out of the subdivision areas. Essentially, we aren’t expecting to see any million-dollar homes in subdivision areas again for quite a while. With subdivision home sales, Simcoe Landing in Keswick, returning to more historically normal prices, waterfronts and rural properties are now playing a... [read more]

Currently in the Georgina market, we are seeing normal absorption figures, with a 46.5% SNLR (sales to new listings ratio). This ensures a strong pipeline of homes for sale in Georgina while still ensuring that existing prices are protect, and we do not move into an excess demand scenario.   The current monthly absorption rate for April 2018 of homes for sale in Georgina is 26.2%, which means that we have 114 days of inventory on the market. If no other homes were listed in... [read more]

As mentioned previously, the trend for average and median prices still remains downward. We previously anticipated some price growth leading into the April and May spring real estate market in Georgina, however, macroeconomic trends, especially bank speculation of a rising interest rate environment, have suppressed demand and caused a number of prospective buyers to take a “wait and see” approach to buying real estate in Georgina. As a result, homes in Georgina are selling less... [read more]

Subdivisions stopped dead Contrary to early 2018 trends, the spring market is actually functioning in a very different manner than previous years, with subdivisions losing in performance to unique products.   As mentioned in yesterday’s post, we are seeing a decrease in purchasing in subdivisions. We have returned to a normal price level, but due to the high level of comparable properties available in subdivisions, and the directness of their comparability, vendors are... [read more]

Volume by Geography - April 2018 Sales Report We are seeing a continued, sustained trend in the mobility of capital in Georgina, which seems to be gravitating towards more niche assets, away from subdivision utility with high replicability. Essentially, these trends can be boiled down to a couple of simple themes: Firstly, capital is still moving at the rates it was, it’s just moving to less traditional assets in the Georgina market, namely big lots, properties for flipping,... [read more]