The volume metrics I was optimistic about have regressed pretty substantially. Even more surprising is that price seems to show some surprising resilience against the volume challenges in the market right now. I think this is a good thing, but I'm reluctant to give it too much credit right now as it seems to be evolving as a selection bias. Selection Bias in York Region House Price Growth The easiest way to visualize this is by evaluating the price rebound we've seen is to try to... [read more]

March 2018 York Region Real Estate Balanced buyers’ market, sellers beginning to adapt We are seeing a decreasing-price environment, but an increasing absorption rate due to spring-market demand, and higher levels of inventory turnover. We can see a relatively clear and typical correlation between sales, days on market, and sale to list ratio in all areas of York Region, with higher-priced, luxury market areas taking longer to sell, and sale-to-list price ratios are returning... [read more]

March 2018 Sales Report, York Region Real Estate - We are currently witnessing record levels of capital concentration in York Region, with higher trade volume moving back into the core areas due to the large amount of new-build inventory coming online in the resale environment: 55 homes sold in Aurora 30 homes sold in East Gwillimbury 61 homes sold in Georgina 9 homes sold in King 74 homes sold in Newmarket 45 homes sold in Whitchurch Stouffville Overall, this deal... [read more]

Gravitation to utility -  Buyer demands are moving away from luxury and into utility purchases, focusing on bedrooms, bathrooms, square footage, and proximity to retail and commercial services. This utility driven market seems to be the result of millenial buyers re-entering the market in full force after being pushed out in the past. These buyers are typically first-time or second-time homebuyers, so they are more focused on utility, because their mentality is often that they can... [read more]

Up from last month, down from last year. Values are definitely down on an annualized basis, but showing signs of normal growth into the spring market. For the full report, e-mail: daniel@fochfamily.com Daniel Foch | Broker We are still seeing massive demand in the 300k to 700k market in York Region, with special focus on the sub 500,000 dollar range in Georgina and others. This type of inventory is reflective of yesterday’s trend which outlined millenials as a major buyer... [read more]