May 2016: Massive Surge in Luxury Real Estate Demand in Georgina
Continuing the conclusions from last month’s report, higher-end and luxurious properties have played a consistent role in Georgina’s Spring Market. The increasing high-end of the price point has demonstrated Georgina’s position in the regional economy for luxurious homes, especially lakefront and rural properties.
The larger spread in the high-end of the market has seemingly propped up the low-end of the high/low sales index, with the low-end price average now sitting above $250,000. This tells us that land values in Georgina are rising substantially based on the market’s demand, more accurately reflecting the premium charged for York Region real estate and Greater Toronto Area real estate, with Georgina’s role in the regional economy manifesting in a very favourable manner for homeowners.