Gina Jeffers, Broker
2014 Review / 2015 Forecast
Year of Purchase
Increase in Value (as of January, 2015)
2000
223%
2005
162%
2010
144%
Toronto Real Estate Board: Community Housing Market Report, Durham, Whitby, All Home Types.
As a homeowner of a distinctive property in one of Whitby’s prestigious neighbourhoods, you had the foresight to purchase a home in what is emerging as one of the most desirable family communities in Ontario. What you may not have known at the time of your purchase is that your home, as an investment, would appreciate as strongly as it has. Whitby is one of the more vibrant real estate markets in Ontario and it is well positioned to continue to grow and prosper. The Real Estate Investment Network (REIN) has ranked Whitby in the top eight of each of their “Top Ontario Investment Towns” reports published in 2009, 2012, and 2014. Their latest report ranked Whitby ahead of Toronto, Orillia, and Milton.
The purpose of this report is to highlight the opportunities and market trends for homeowners in Whitby, Ontario whose property value exceeds $600,000; Executive & Luxury Homes (E&LH). This segment of the Whitby detached housing market represents 7.7% of the total housing units sold in Whitby in 2014, and over 12% of the total value of properties. Homeowners in this price band are carrying an asset of considerable value; an investment that requires dedicated attention and thought. This report was prepared specifically for the E&LH community in Whitby through detailed personal analysis of current and historical market data.
Please contact me directly with any questions or to discuss how I may assist you.
I invite you to visit our newly launched website, PreferredProperties.ca for neighbourhood information, videos, and details about our services.
Gina Jeffers Gina Jeffers, Broker
A record 163 properties sold at above $600,000 last year, that is a 49.5% increase over 2013 and more than 3.5 times 2012 sales volume. The question is, with 3 consecutive years of strong growth in the E&LH market, is it expected to continue? We say yes and here’s why. Two primary factors measuring strength of demand are; how much a buyer is willing to pay vs. the list price of the property (% Sales To List) and how quickly are homes selling (Days On Market ). The higher the % Sales to List, the stronger the demand. Lower days on market, the faster homes are being snapped up. Over the last five years, these two factors are trending
Buyers remain aggressive in their pursuit of homes in the upper tier Whitby market.
% Sale to List
Days on Market
The average E&LH home was on the market 23 days in 2014 before selling. Homes in the $600k to $699k were at 21 days whereas homes in the $700k+ were taking 28 days on average to sell. Average selling times are half as long as they were in 2010 and nearly on par with the broader Whitby market. 80+% of Homes sold in the $600,000+ price ranges were concentrated in four neighbourhoods: Brooklin, Williamsburg, Lynde Creek, and Taunton North.
strongly in favour of continuing demand. We also see in the broader Whitby market (all price ranges) the same strength. Days on market for Whitby overall was only 17 days in Q4 of 2014 versus 20 in 2013, and 23 in 2012. The strength of the overall market is a good indicator that the upper tier market will continue to do well in 2015. Taunton North Lynde Creek Williamsburg
Brooklin
2015 is setting up to be a very strong seller’s market in the $600k to $700k price band. As of end of February there were only 67 days of inventory (19 active listings) in the $600k to $699k price band. Compared to $700k+ where there is 231 days of inventory and 38 active listings.
www.PreferredProperties.ca
Data Source: TREB as of March 1, 2015 for Whitby detached
Our Approach Preferred Properties is a distinctive full service real estate company with specific experience and focus on serving the unique requirements of the Executive & Luxury Home (E&LH) market and clientele. Preferred Properties’ Gina Jeffers has a genuine respect for your investment, time, and desire for confidentiality and discretion. Preferred Properties creates unique, memorable, and detailed property marketing that is distinct and attracts the most qualified buyers while minimizing inconvenience to you during the process. Gina has intimate knowledge and experience in marketing some of the finest properties in Whitby’s prestigious neighbourhoods. Personal and professional attention is what clients expect and deserve. With an uncompromising dedication to service, Gina sets the very highest standard to inform and guide her clients throughout their decision making process. Gina prides herself on her direct, singular contact with all her clients. This 'hands on approach' emphasizes a quality of service business model , an approach which strongly represents one of Gina's core beliefs; clients should expect, and deserve, to work directly with the trusted advisor they hired throughout the process. Preferred Properties is unparalleled in marketing and negotiating expertise providing an exceptional level of highly personalized service to discerning clientele.
Experience and Credentials • Certified Luxury Home Marketing Specialist, ILHM
• Registered Real Estate Broker, RECO
• Institute for Luxury Home Marketing Member
• Previous Branch Manager / Trainer, Royal LePage Connect Realty
• President's Gold Award recipient, Royal LePage
• Realtor® since 1998, Royal LePage
ginajeffers@preferredproperties.ca | 905.427.6522 / 905.668.6566 Royal LePage Connect Realty, Brokerage 335 Bayly Street West, Ajax Not intended to solicit those currently under contract.
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