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Century Heritage Homes   Neighbourhood Amenities
Gorham-College Manor, Newmarket   Gorham-College Manor, York Region
 

 

In order to understand the attractiveness of the Gorham-College Manor, Newmarket neighbourhood for buyers and sellers, it is necessary to compare the present market to a previous one. In this case the fourth quarter statistics of 2014 are compared side-by-side to the fourth quarter statistics of 2013 from the Community Housing Market Report York Region, Newmarket, with with the increase or decrease in results in the right hand column.

 

Gorham-College Manor 4th Quarter 2013 4th Quarter 2014 Increase/Decrease
House Sales 30 33 +3
Average Home Price $443,092 $452,636 +$9,544
Dollar Volume $13,292,763 $14,937,000 +$1,644,237
New Listings 32 38 +6
Active Listings Inventory 7 8 +1
Average Days On Market 26 19 -7
% Of Sold Price To Listing Price 98% 98% 0

 

Home sales in 2014 increased slightly to 33 from 30 in 2013, and the Average Home Sale Price increased on average by $9,544. At the same time there were 6 more New Listings in 2014 and 1 more Active Listing, and the price per home went up along with a total Dollar Volume increase of $1,644,237. Surely, the desirability of the neighbourhood helped keep the prices up, but continually low interest rates also helped in this regard with the sale price. During the same period, the Average Number of Days on the market decreased  from 26 in 2013 to 19 in 2014 which was good for home sellers. The Percentage of Sold Price To Listing Price remained the same at 98% in 2014. The majority of Gorham-College Manor real estate sales came from detached homes and freehold townhouses as shown below with breakdown by type. This desirable neighbourhood is another indicator of the strength of the overall Newmarket Housing Market.

 

Type Number of Sales 2013 Number of Sales 2014 Increase/Decrease
Detached 13 15 +2
Semi-Detached 1 0 -1
Attached Townhouse 7 11 +4
Condo Townhouse 8 7 -1
Condo Apartment 1 0 -1
Other 0  0   0

 

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 close to full listing price in a relatively short length of time, Gorham-College Manor, Newmarket continues to be strong in York Region real estate and a great investment despite the reduction in sales. Our strong economy should continue with this neighbourhood helping to lead the way.

 

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