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Homes Houses   On Bogart Pond
Gorham-College Manor, Newmarket   Condominium Townhouses Newmarket
 

 

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 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, Newmarket, with with the increase or decrease in results in the right hand column.

 

Gorham-College Manor 3rd Quarter 2013 3rd Quarter 2014 Increase/Decrease
House Sales 33 35 +2
Average Home Price $457,645 $473,037 +$15,392
Dollar Volume $15,102,300 $16,556,300 +$1,454,000
New Listings 44 53 +9
Active Listings Inventory 14 17 +3
Average Days On Market 18 20 +2
% Of Sold Price To Listing Price 99% 98% -1

 

Home sales in 2014 increased slightly to 35 from 33 in 2013, and the Average Home Sale Price increased on average by $15,392. At the same time there were 9 more New Listings in 2014 and 3 more Active Listings, and the price per home went up along with a total Dollar Volume increase of $1,454,000. 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 increased  from 18 in 2013 to 20 in 2014 which is still allright for home sellers. The Percentage of Sold Price To Listing Price decreased from 99% in 2013 to 98% in 2014. The majority of Gorham-College Manor real estate sales came from detached homes and condominium 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 21 23 +2
Semi-Detached 0 1 +1
Attached Townhouse 6 3 -3
Condo Townhouse 6 7 +1
Condo Apartment 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 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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