Massive surge in higher priced & luxury homes for sale in Georgina
Friday Jun 10th, 2016
Main lake front focus areas are Keswick North, Jackson's Point, Duclos Point, Virginia, and Historic Lakeshore Communities
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.
Consistent type of homes for sale in Georgina being demanded
It 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.