In order to understand the attractiveness of the Beaver Creek Business Park neighbourhood for buyers and sellers looking for new condo buildings, 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.
Beaver Creek Business Park
4th Quarter 2013
4th Quarter 2014
Average Condo Price
Active Listings Inventory
Average Days On Market
% Of Sold Price To Listing Price
Condominium sales in 2014 increased to 8 from 6 in 2013, and the Average Condo Sale Price decreased on average by $19,154. At the same time there was 1 more Active Listing in 2014 and 2 fewer New Listings. Prices dropped slightly as the product remained fairly constant. Surely, the desirability of this newer condo neighbourhood helped keep the prices from dropping too much, but continually low interest rates also helped with the increase in sales, albeit small in number. During the same period, the Average Number of Days on the market decreased from 49 in 2013 to a much lower 28 in 2014 which is certainly good for home sellers. The Percentage of Sold Price To Listing Price remained the same at 98% in 2014. All of Beaver Creek Business Park residential real estate sales is from highrise condominiums and not from any other type of home as is the norm in most other parts of the town. This newly desirable neighbourhood is another indicator of the strength of the overall Richmond Hill 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 condos selling at or close to full listing price in a relatively short length of time, Beaver Creek Business Park continues to gain strength in Richmond Hill real estate and continues as a great investment. Our strong economy should continue with this neighbourhood helping to lead the way.