January 2016 Georgina Market Report
Saturday Jan 30th, 2016Share
Georgina's real estate market - January 2016
Strong Start for South Keswick
Keswick South has claimed 27 of the 52 home sales in Georgina in January, 2016 - the vast majority of total sales. Baldwin & Belhaven, traditionally the least-transacted areas in Georgina, are off to a slow start with zero homes sold so far in 2016.
Number of Home Sales
- 8 homes were sold in Historic Lakeshore Communities
- 3 homes were sold in Keswick North
- 27 homes were sold in Keswick South
- 6 homes were sold in Pefferlaw
- 7 homes were sold in Sutton & Jackson’s Point
- 1 home was sold in Virginia
Highway 404, New Homes & Market Changes
Several small shifts in the market have occurred as a result of new development reaching the pipeline with the opening of Highway 404:
- Increased new home sales & development in Keswick South seems to be propping resale values up to closer replicate the values of comparable new home sales figures.
- Similar trends are occurring in Sutton & Jackson’s point, with increased new home sales & development pointing towards a growing average price and record sales volume.
The excess demand for homes in Keswick South has led it to surpass the Lakeshore Communities with the highest average sale price of a home, and the highest price of a home sold in Georgina in January, 2016.
With the continued popularity for its exposure to Highway 404, and many new homes coming online in South Keswick, we can expect this area to remain the most high-demand real estate in Georgina throughout 2016, and dominate in number of sales.
Pricing trends so far in 2016 are skewed against history, with both the Sutton & Jackson’s Point Areas and Keswick South ahead of Lakeshore Communities.
We do not expect this pricing trend to continue – as demand for lakefront homes returns in the spring, the Lakeshore Communities will likely reclaim the top price point in the market.
Historic Lakeshore Communities
Sutton & Jackson's Point