Rural King MLS Real Estate Listings rural king real estate property sales farms land

 

Farms and Land   Neighbourhood Amenities
Rural King, York Region   Rural King, York Region
 

 

In order to understand the attractiveness of the Rural neighbourhoods 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.

 

Rural King 3rd Quarter 2013 3rd Quarter 2014 Increase/Decrease
House Sales 18 14 -4
Average Home Price $972,833 $1,098,821 +$125,988
Dollar Volume $17,511,000 $15,383,500 -2,127,500
Active Listings Inventory 43 47 +4
New Listings 54 54 0
Average Days On Market 75 93 +18
% Of Sold Price To Listing Price 95% 102% +7%

 

Home sales in 2014 decreased to 14 from 18 in 2013, and the Average Home Sale Price increased on average by $125,988. At the same time there were 4 more Active Listings in 2014 and the same number of New Listings, and the prices went up as product increased slightly. Surely, the desirability of the neighbourhood helped keep the prices up, too, but continually low interest rates also helped keep sales fairly stable. During the same period, the Average Number of Days on the market increased from 75 in 2013 to 93 in 2014 which is still good for home sellers considering the homes are usually quite expensive. The Percentage of Sold Price To Listing Price increased to  102% in 2014 from 95% in 2013. All of the Rural real estate sales is usually from detached estate homes or farms and not from any other type of home as is the norm in most other parts of the town. This extremely desirable neighbourhood is another indicator of the strength of the overall King Housing Market.

 

Type Number of Sales 2013 Number of Sales 2014 Increase/Decrease
Detached 18 14 -4

 

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 fairly high in a relatively short length of time, the Rural neighbourhood continues to be strong in King real estate and a great investment. Our strong economy should continue with this neighbourhood helping to lead the way.

 

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