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 third quarter statistics of 2014 are compared side-by-side to the third quarter statistics of 2013 from the Community Housing Market Report York Region, King, with with the increase or decrease in results in the right hand column.
4th Quarter 2013
4th Quarter 2014
Average Home Price
Active Listings Inventory
Average Days On Market
% Of Sold Price To Listing Price
Home sales in 2014 were 17, 2 less than the 19 in 2013, but the Average Home Sale Price increased by $709,110. At the same time there were 4 fewer New Listings in 2014, 9 fewer Active Listings, and the price per home went up along with a total Dollar Volume increase of $9,803,650. Surely, the desirability of the neighbourhoods 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 71 in 2013 to 62 in 2014 which was better for home sellers. The Percentage of Sold Price To Listing Price decreased slightly from 96% in 2013 to 95% in 2014. All Rural real estate sales came from detached homes as shown below. This desirable neighbourhood is another indicator of the strength of the overall King 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 close to or at full listing price in a relatively short length of time, Rural King 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.