Living
               NORTH OF THE CITY
A Quarterly Market Analysis of York Region’s Executive, Estate, and Acreage Proper...
A DISTINCTIVE PROPERTY DESERVES
                                A DISTINCTIVE MARKETING PLAN.
 Allison Parent & Lisa Clark...
LOCAL EXPERTISE, GLOBAL CONNECTIONS
There is no doubt that we are in the midst of a hot market - where properties in many ...
LIVING NORTH OF THE CITY

We have continued to see a strong seller's market                                               ...
LUXURY MARKET REPORT

Three hundred and fifty nine detached homes in southern York Region* sold for $750,000 or more, more...
OUR FEATURED PROPERTIES
                                To learn more about our featured properties, please visit our inte...
OUR FEATURED PROPERTIES
                                To learn more about our featured properties, please visit our inte...
Please accept this invitation to call us and discover the
                                                          differ...
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York Region Luxury Real Estate Market Quarterly Report - Q1 2010

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A report of York Region's luxury home market for the first quarter of 2010.

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York Region Luxury Real Estate Market Quarterly Report - Q1 2010

  1. 1. Living NORTH OF THE CITY A Quarterly Market Analysis of York Region’s Executive, Estate, and Acreage Properties Local Expertise, Global Connections Vol. 2 Issue 1
  2. 2. A DISTINCTIVE PROPERTY DESERVES A DISTINCTIVE MARKETING PLAN. Allison Parent & Lisa Clark bring property marketing to a new level. In addition to providing traditional MLS promotion, we offer a comprehensive and modern approach to advertising. Utilizing a combination of print, digital, and social media marketing strategies plus leveraging the power of the Sotheby’s International Realty network, our goal is to reach as many qualified potential buyers as possible to get your property sold for the greatest amount of money in the shortest period of time. PRINT MARKETING NETWORK MARKETING We have an in-house team that will create unique and The powerful global marketing and referral resources high-impact marketing materials to complement our sales of Sotheby’s International Realty, combined with our approach to attract qualified buyers to your home. Our sophisticated marketing programs, provide highly effective clients benefit from exclusive corporate rates and prime marketing strategies for home sellers. In addition to placement in local, national, and international publications the various print and digital media opportunities, your including the Globe and Mail, Architectural Digest, Robb property will be showcased in our network of Canadian Report, Sotheby's At Auction, New York Times, Gourmet, and international offices. International Herald Tribune, The Wall Street Journal, Country Life and Sotheby's RESIDE Magazine. PUBLIC RELATIONS Does your home have a story to tell? By working closely DIGITAL MARKETING with a distinguished public relations firm, you can gain Your property will receive online exposure on additional international exposure for your property in sothebysrealty.ca and sothebysrealty.com, as well as on a some of the world’s most respected publications. number of other highly trafficked sites including those of the New York Times and The Wall Street Journal. ABOUT US Allison Parent Lisa Clark M.B.A., B.A.Sc. (Civil Eng.) B.A.A., e-PRO® *Sales Representative *Sales Representative e. aparent@sothebysrealty.ca e. lclark@sothebysrealty.ca c. 416.910.4507 c. 416.258.6053 www.allisonparent.com www.lisaclark.ca Over the years, Allison has worked with the country's top- Lisa's interest in assessing market conditions and developing ranked luxury real estate companies offering high-quality pricing strategies is largely a result of her background service to clients in all price ranges. Having formerly prior to joining Sotheby's - she was a consultant with an worked in the high-technology industry in a business international consulting firm, and also owned her own leadership role, she is accustomed to working in fast-paced, consulting business. Lisa holds a Bachelor of Applied Arts high-stress environments. During her 10+ years in this degree, and is a certified e-PRO®. She is a member of the industry, Allison managed client accounts that generated Institute for Luxury Home Marketing, the Markham Board over $100 MILLION in annual revenue. Allison holds an of Trade, and the Vaughan Chamber of Commerce. Lisa M.B.A. (Master of Business Administration) degree from grew up in Woodbridge, and is a long-time resident and the Schulich School of Business at York University, as well active community member in Thornhill, where she currently as a Bachelor of Applied Science degree in Civil Engineering lives with her husband and four children. from the University of Waterloo. She currently resides in Newmarket with her husband and two sons.
  3. 3. LOCAL EXPERTISE, GLOBAL CONNECTIONS There is no doubt that we are in the midst of a hot market - where properties in many price categories are moving quickly. Even in a seller's market, the listing price you set is a critical factor in the return you'll receive. An overpriced home, regardless of market conditions, can sit on the market for a long period of time. Statistics indicate that an overpriced home will, on average, eventually sell for less than it would have if it had been priced at proper market value to begin with. On the other hand, a home priced under market value may sell quickly, but for potentially far less money that it's actually worth. A professional market evaluation from an experienced realtor can help you achieve your objectives. When recommending a listing price for a property, we utilize factual information such as: • the type of property and the neighbourhood in which it is located; - the style, condition and age of the home; • improvements and upgrades made to the property, including assessing over-and under- improvements; • the time of year in which the property is being listed; • an evaluation of comparable listings that have expired, and those that are currently listed for sale; • a comparative market analysis looking at similar properties that have sold in a recent time period. While difficult, we often have to present homeowners with market statistics that highlight actual activity in the marketplace, and work to overcome issues such as: • what friends, neighbours, or relatives say a property is worth; • what the owners paid when they built or bought the property; and • cash proceeds the owners want or need from the transaction. If you are thinking of selling, we invite you to contact us for a complimentary, no-obligation evaluation of your home's current market value. Best regards, Allison Parent Lisa Clark M.B.A., B.A.Sc. (Civil Eng.) B.A.A., e-PRO® Sales Representative Sales Representative e. aparent@sothebysrealty.ca e. lclark@sothebysrealty.ca c. 416.910.4507 c. 416.258.6053 www.allisonparent.com www.lisaclark.ca If you would like to receive a complimentary copy of International Architecture and Design, Sotheby’s International Realty RESIDE Magazine, or Sotheby’s At Auction, please call or email us (contact information noted above). On the Cover, Stone Century Inn, Westport, ON ID# 4000012281 A Review of First Quarter 2010 Vol 2 Issue 1
  4. 4. LIVING NORTH OF THE CITY We have continued to see a strong seller's market York Region† - Detached Homes Available (Inventory) throughout the first quarter of 2010 in York Region*. We 3500! anticipate that there will be an influx of listings throughout the second quarter of the year, which may result in a more 3000! Number of Units balanced market as we reach the summer months. 2500! The top chart outlines the total number of units available 2000! for sale each month. There were 4630 detached homes 1500! available for sale in Q1-2010 - a 38% decrease from a 1000! year earlier. 500! The second chart shows the number of detached homes sold each month. There were 2261 detached homes sold 0! Jan! Feb! Mar! Apr! May! Jun! Jul! Aug! Sep! Oct! Nov! Dec! in York Region in Q1-2010. This not only represents a signficant increase of 97% from Q1-2009, but also 2010 2009 represents the highest sales volumes for the months of 2008 2007 February and March in the past 4 years. York Region† - Detached Homes Sold The final chart outlines the Sales-to-Inventory ratio for 1400! York Region's real estate market. To calculate the ratio, 1200! we take the total number of sales in a given time frame Number of Units 1000! and divide that by the total inventory (available homes) for the same period. The general consensus in the real 800! estate industry is that a balanced market occurs when 600! this ratio lies between 15% and 25%. Anything below 15% 400! would indicate a buyer's market, and anything above 25% would indicate a seller's market. The strong seller's market 200! that began in April 2009 in York Region has continued.The 0! sales-to-inventory ratio fluctuated between a low of 40% Jan! Feb! Mar! Apr! May! Jun! Jul! Aug! Sep! Oct! Nov! Dec! in January 2010 to a high of 54% in March 2010, with an 2010 2009 average for the first quarter of 48.8% for the region. This 2008 2007 means that just under one out of every two homes listed for sale in York Region in Q1-2010 has sold. York Region† - Overall Sales-to-Inventory Ratio 70%! 60%! Seller's Market 50%! 40%! 30%! 20%! Balanced Market 10%! Buyers Market 0%! Fe ! M ! Ap ! 7! Ju ! ! Au ! Se ! O ! N 7! D 7! Jan ! Fe ! M ! Ap ! 8! Ju ! ! Au ! Se ! O ! N 8! D 8! Jan ! Fe ! M ! Ap ! 9! Ju ! ! 9! Se ! O ! N 9! D 9! Jan ! Fe ! M ! 0! 7 07 7 7 07 7 07 07 7 8 08 8 8 08 8 08 08 8 9 09 9 9 09 09 09 9 0 10 -0 -0 r-0 -0 l-0 -0 -0 -0 -0 -0 r-0 -0 l-0 -0 -0 -0 -0 -0 r-0 -0 l-0 -0 -0 -0 -1 -1 b- n- g- p- b- n- g- p- b- n- g- p- b- ar ar ar ar Jan ay ct ov ec ay ct ov ec ay ct ov ec Ju Ju Ju Au M M M †Note: Our commentary is based on detached residential properties listed on the Multiple Listing Service (MLS ®) in TREB map areas N01-N08 and N10-N14 A rtfully uniting extraordinary properties with extraordinary lives
  5. 5. LUXURY MARKET REPORT Three hundred and fifty nine detached homes in southern York Region* sold for $750,000 or more, more than 200% higher (251 units) over the same period in 2010. The highest sale for the period was for $3.77 million. York Region has some very impressive estate home listings available for sale, including $15.7 million in King, $12.0 million in Aurora, and $9.38 in Thornhill. The following section provides an overview of properties listed at or sold for $750,000 or greater during the first quarter of 2010. Aurora The Aurora area currently has 46 properties for sale in the $750,000+ price range. In the first quarter of 2010, 18 luxury properties sold, versus only 6 in the same period of 2009. Days on market dropped by 57%, down from 59 days in 2009 to 26 days in 2010. The median sold price was $947.5 million, with the top sale in the quarter for this community at $2.0 million. King In the second quarter of 2010, 18 properties sold for $750,000 or more, more than double the volume during the same time period in 2009. Median sale price was $935,000, an increase of 11 per cent over the same quarter in 2009. Days on market were down from 64 to 40. The highest sale for the community was $2.6 million, compared with $1.13 million in 2009. There are currently 117 top-tier homes available for sale, with the highest listing at $15.7 million – the highest priced listing in the region. Newmarket Newmarket had five homes sell in the plus $750,000 range, compared to one unit in 2009. Days on market dropped more than 50%, down from 39 days in 2009 to 19 days in 2010. The top sale in the first quarter of 2010 in Newmarket was $1 million. Twelve luxury properties are currently on the market, with the highest priced listing at $1.95 million. Richmond Hill In the first quarter of 2010, 127 properties sold, up more than 200% from 2009 where only 39 units sold. The median sale price was $882,800, and properties were on the market for 15 days. The top sale in the quarter in Richmond Hill was $1.88 million, compared with a top sale of $1.66 million in the same period in 2009. The top-priced listing is currently at $4.75 million. Thornhill Fifty-four properties sold in Thornhill, with the highest sale reaching $3.775 million. Sales volume was up dramatically, from 15 units in 2009 to 54 in 2010. The median sale price was $905,000, down from $1.100 million in 2008, suggesting that the lower priced segment of the market place is more active. Eighty-nine properties priced at $750,000 and above are now available for sale. The highest priced listing in Thornhill is $9.38 million. Unionville/Markham Seventy-three properties sold in Unionville and Markham, with the highest sale reaching $2.43 million. Sales volume was up from 19 units in 2009 to 73 in 2010, a 280% increase. Days on market dropped significantly - from 85 days in 2009 to 11 days in 2010. The median sale price was $860,000, equal to that of 2009. One hundred and twenty-one properties priced at $750,000 and above are now available for sale. The highest priced listing in the area is $3.5 million. Vaughan Vaughan, including Woodbridge and Kleinburg, has 124 top-tier properties for sale. In the first quarter of 2010, 45 units sold, up over 220% from the 14 sales achieved in the same period of 2009. Median sale price was down from $940,000 in 2009 to $860,000 in 2010. The top sale was $2.2 million, up from a top sale in $1.633 in 2009. The top listing currently offered for sale is at $3.975 million. Days on market dropped from 47 days in 2009 to 26 days in 2010. Whitchurch / Stouffville The Whitchurch-Stouffville area has 113 properties for sale in the $750,000+ price range. Sales volume increased to 19 sales in the first quarter of 2010 from 6 sales in 2009. The median sold price in this area was $990,000, with the top sale at $1.73 million. The highest listing is currently offered for $3.975 million. Median days on market dropped by more than half, from 191 down to 81. *Note: Our commentary is based on detached residential properties listed on the Multiple Listing Services (MLS ®) in TREB map areas N01-N08 and N10-N14, with a sold price of $750,000 or greater, that sold during the months of January, February, and March 2010. Data is accurate as of March 31, 2010. For Days on Market calculations, we used the median. A rtfully uniting extraordinary properties with extraordinary lives
  6. 6. OUR FEATURED PROPERTIES To learn more about our featured properties, please visit our international website, www.sothebysrealty.com, and enter the Property ID # associated with each property, or contact the listing agent directly. Beausoleil on Georgian Bay, 190 Melissa Lane,Tiny, ON 14716 Creditview Road, Caledon, ON ID# 4000011386 Property ID# 4000014857 This ideally located property is set upon 89+ acres in Cheltenham, providing a Located in the prestigious community of Cedar Ridge, this stunning retreat is great opportunity for future development options with over 865ft of frontage on situated on 1.98 acres of Georgian Bay waterfront. This 6-bedroom French Creditview Road. The one-of-a-kind custom built 2-storey log home contains Manor provides breathtaking views from virtually every window, and the separate multiple balconies and a basement level walk-out overlooking the pond. With an guest wing offers ample space and privacy for visitors. The many terraces, lakeside open concept kitchen including breakfast bar, 5 bedrooms, a large workshop and spa and outdoor kitchen provide the perfect backdrops for entertaining. a greenhouse, glorious views abound! Allison Parent* www.allisonparent.com (c) 416.910.4507 Allison Parent* www.allisonparent.com (c) 416.910.4507 L Tower Penthouse Suites,Toronto, ON 396 Ashworth Rd, Uxbridge, ON ID# 4000013616 Designed by Daniel Libeskind, the iconic L Tower will rise 57 stories at Enjoy the best of both worlds: this magnificent west Uxbridge country home the corner of Yonge and Front. The luxurious penthouse suites range in is less than one hour from downtown Toronto. With six bedrooms, a formal living and dining area, an open-concept kitchen/family room and a private guest size from 1,106sf to 2,444sf. Original Munge Leung-designed kitchens, wing, this spacious home has room for everyone. A rare opportunity to own 28 10ft ceilings and other decadent features define the space. beautiful acres of land and a fully restored, renovated residence. Also includes a heated bank-barn - perfect for horses or for a hobbyist. Lisa Clark* www.lisaclark.ca (c) 416.258.6053 Lisa Clark* www.lisaclark.ca (c) 416.258.6053 Allison Parent* www.allisonparent.com (c) 416.910.4507
  7. 7. OUR FEATURED PROPERTIES To learn more about our featured properties, please visit our international website, www.sothebysrealty.com, and enter the Property ID # associated with each property, or contact the listing agent directly. Century Stone Inn, Westport, ON ID# 4000012281 Harmony Lakeside Retreat, Land 'O' Lakes, Selling both Business & Land. Host to local weddings, conferences and retreats, Stone Mills, ON Property ID# 4000014526 this Inn is located on approximately 50 acres of gorgeous countryside.This unique Serenity - Tranquility - Privacy. This is what you will experience when you enter property boasts six (6) buildings along with a new pool (2008) and man-made upon this unique ~15 acre sanctuary.This 4000+ square foot open concept timber pond - the perfect backdrop to wedding ceremonies & special events. With the frame structure offers outstanding views, and has been painstakingly constructed 8-bedroom Manor House, 2-bedroom Cabin, and 5-bedroom Annex, this Inn can to preserve the surrounding woodlands and granite outcroppings upon which it sleep guests in a total of 15 bedrooms. The property contains 13 bathrooms, 9 sits.With ~1000 feet of waterfront on an extremely private lake, this maintenance- of which are ensuites, along with a 5-stall horse barn and a conference/retreat free, eco-conscious property offers the ultimate escape! All this within driving centre. distance of both Toronto and Ottawa! Allison Parent* www.allisonparent.com (c) 416.910.4507 Allison Parent* www.allisonparent.com (c) 416.910.4507 505425 Grey Rd., Georgian Bluffs ID# 4000014722 5507 Tenth Line, Erin, ON ID# 4000012390 A stunning waterfront property featuring 229ft of Georgian Bay shoreline, and a Ideal residential development opportunity! This acreage has now been included boat basin that can accommodate vessels up to 35 feet in length. Build your dream in the Official Plan of Erin Township for Future Development. Located only 40 home or cottage here, and enjoy the clean, clear waters of Georgian Bay and the minutes from Toronto, this unique property fronts onto unopened 10th Line & wonderful scenery of the Niagara Escarpment and the Bruce Trail. Dundas and is within walking distance of downtown Erin! The land includes a cold water stocked stream throughout the east quadrant Lisa Clark* www.lisaclark.ca (c) 416.258.6053 Allison Parent* www.allisonparent.com (c) 416.910.4507
  8. 8. Please accept this invitation to call us and discover the difference of Sotheby’s International Realty®. We look forward to representing you. For further information, please contact: A llison Parent M.B.A., B.A.Sc. (Civil Eng.) L isa Clark B.A.A., e-PRO™ Sales Representative Sales Representative e. aparent@sothebysrealty.ca e. lclark@sothebysrealty.ca c. 416.910.4507 c. 416.258.6053 www.allisonparent.com www.lisaclark.ca Richmond Hill, Aurora, King, Caledon, Thornhill, Richmond Hill,Woodbridge, Whitchurch-Stouffville, Newmarket and Kleinburg, Markham,Vaughan and Uxbridge Unionville Sotheby's International Realty Canada, Brokerage 497 Davenport Road Toronto, ON M4V 1B7 416.960.9995 sothebysrealty.ca Sotheby’s International Realty Canada, Brokerage. Independently owned and operated. If your property is currently listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. FSC Logo

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