In order to understand the desirability of the Mount Albert neighbourhood for buyers and sellers, it is necessary to compare the present market to a previous one based on the Community Housing Market Report York Region: East Gwillimbury. In this case the third quarter of 2014 is compared side-by-side to the third quarter statistics of 2013, with with the increase or decrease in results in the right hand column.
Mount Albert
3rd Quarter 2013
3rd Quarter 2014
Increase/Decrease
House Sales
29
29
0
Dollar Volume
$13,132,650
$14,681,000
$1,548,350
Average Home Price
$452,850
$506,241
+$53,391
Active Listings Inventory
23
24
+1
New Listings
40
49
+9
Average Days On Market
27
28
+1
% Of Sold Price To Listing Price
97%
99%
+2%
The number of sales were the same in 2013 and 2014, yet the Average Home Sale Price which was made up almost entirely of detached homes rose on average by $53,391. At the same time there was 1 more Active Listing in 2014 and 9 more New Listings. Surely, a relative shortage of listings helped keep the prices up, but continually low interest rates also helped with the increase in Sales Dollar Volume and sale price. This activity had little effect on the Average Number of Days on the market which were 27 in 2013 and 28 in 2014. The Percentage of Sold Price To Listing Price increased to 99% of asking price in 2014 from 97% in 2013. Mount Albert real estate is another indicator of the strength of the overall East Gwillimbury Housing market.
Type
Number of Sales 2013
Number of Sales 2014
Increase/Decrease
Detached
23
22
-1
Attached/Townhouse
6
6
0
Semi-Detached
0
1
+1
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 almost full price in a relatively short length of time, Mount Albert continues to be one of the hot spots in East Gwillimbury real estate. Our strong economy should continue with this neighbourhood at the forefront.
