Statistics show that demand for homes in the Aurora and Newmarket areas is on the rise. March stats indicate that more than half of the homes listed on MLS in these areas are being sold within an average of three weeks and 74 per cent of Newmarket homes sold within this time frame and 51 per cent in Aurora.
My research shows that affordability is perhaps the most influencing factor in home sales north of the Greater Toronto Area. With supply and demand causing an increased disparity of home prices, maintaining affordability in these popular communities is an ongoing concern.
First quarter 2011 statistics are also showing that median house prices in Georgina and Beaverton have decreased, making Lake Simcoe real estate the best buy for people willing to make a longer commute to work.
Meanwhile, East Gwillimbury and Uxbridge are experiencing the greatest increase in property values with buyers being attracted to the country setting that features small hamlets within easy commuting distance to Toronto.
I find that many real estate investors are being attracted to areas where future infrastructure development is planned, such as the 404 extension that is scheduled for completion in 2013. In this case, this extension will reduce the commute time between Georgina and Markham by approximately 15 minutes, which adds value to the area being serviced and giving it more appeal as a longer-term investment.
If you are interested in purchasing property in any of these communities or simply would like more information on the market in these areas ,please give me a call at 416-925-9191 to e-mail me at Roxanne@ChesnutPark.com and I will be more than happy to provide you with the information you are looking for and hopefully help you find the home of your dreams.