Neighbourhood Report: Historic Lakeshore Communities
Thursday Aug 27th, 2015
In 2015, Historic Lakeshore Communities have experienced the highest relative number of sales in Georgina, at 53 Sales in the second quarter. The relative number of sales is the number of sales based on the inventory in the area. Because of the nature of the inventory in the Historic Lakeshore Communities, the vast majority (92%) of these transactions were the trade of detached properties.
Average and Median Sale Price
The average and median sale price in Historic Lakeshore Communities drastically outperforms other areas of Georgina, at $480,776, versus the municipal average of $412,059. The major economic indicator pointing towards this difference in price is the number of Lakefront Homes transacted in this area, as well as locational premiums for lake access and proximity.
For those concerned about the accuracy of the Average Statistic in the Historic Lakeshore Communities caused by large skews in the data from extremely high-priced transactions, the median reinforces the conclusions. With a median sale price of $445,000, Historic Lakeshore Communities are, by both metrics, the highest valued area for Q2 2015.
Sales & Listings
In The Historic Lakeshore Communities area, the number of sales to new listings are considered pretty standard among the common asset classes, detached & semi-detached, at 65% and 50% respectively. In this area, some consideration needs to be taken for high-value lakefront properties in the 1,500,000+ range, which typically take much longer to transact than more normal properties.
Strong demand can be seen for Condominiums, Row Housing and Townhouse units in the Historic Lakeshore Communities, which hold a sale/listing ratio of 100%.
Factors of Demand: In this area, properties are transacting at an average of 98% of list price in Q2 2015, and spending only 25 days on market on average, even when accounting for luxury lakefront listings which typically spend more time on the market.
Interested in buying or selling a home in The Historic Lakeshore Communities? Feel free to give me a shout.
Daniel Foch | Sales Representative
Royal LePage Your Community Realty
905.251.5483 | email@example.com