In order to understand the desirability of the Rural neighbourhoods 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.
Rural East Gwillimbury
3rd Quarter 2013
3rd Quarter 2014
Average Home Price
Active Listings Inventory
Average Days On Market
% Of Sold Price To Listing Price
Sales were almost 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 $133,501. At the same time there was 3 fewer Active Listings in 2014, and only 1 more New Listing. 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 decreased from 44 in 2013 to 41 in 2014. The Percentage of Sold Price To Listing Price increased slightly from 96% of asking price in 2013 to 98% in 2014. Rural real estate appears to be another indicator of the strength of the overall East Gwillimbury 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 at almost full price in a short length of time, the Rural neighbourhoods continue to be one of the hot spots in East Gwillimbury real estate. Our strong economy should continue with this neighbourhood at the forefront.