In order to understand the desirability of the Crosby neighbourhood for buyers and sellers, it is necessary to compare the present market to a previous one. In this case the second quarter of 2014 is compared side-by-side to the second quarter statistics of 2013, with with the increase or decrease in results in the right hand column.
Oak Ridges Lake Wilcox
2nd Quarter 2013
2nd Quarter 2014
Average Home Price
Active Listings Inventory
Average Days On Market
% Of Sold Price To Listing Price
Home sales in 2014 decreased to 78 from 84 in 2013, and the Average Home Sale Price increased on average by just $2,351. For the same time there were only 2 more Active Listings in 2014 and 33 fewer New Listings. Home prices increased slightly as product decreased. Surely, the desirability of the neighbourhood helped keep the prices stable, but continually low interest rates also helped with just a slight decrease in sales. During the same period, the Average Number of Days on the Market decreased from 25 in 2013 to only 16 in 2014 which was certainly good for home sellers. The Percentage of Sold Price To Listing Price improved to 99% from 97% in 2013. The majority of Oak Ridges Lake Wilcox real estate sales, as indicated below, is mostly from detached homes and semi-detached homes. This extremely desirable neighbourhood is another indicator of the strength of the overall Richmond Hill Housing Market.
Number of Sales 2013
Number of Sales 2014
This is another example of Real Estate as a Great Investment. At present there is relatively low risk with excellent chances of increasing the value of your own estate. With homes selling at or close to full listing price in a relatively short length of time, Oak Ridges Lake Wilcox continues to be strong in Richmond Hill real estate and a great investment. Our strong economy should continue with this neighbourhood helping to lead the way.