Having lived in the Grange Hill East for the last 6 years, I have seen its landscape change. Grange Hill is a fast growing community. Several new developments have popped up quickly in the last 6 years adding more detached, semi and town homes. Even with its growth, the East End is still a well kept secret. It’s a quick 25-minute drive to the 401 via Guelph Line – which makes its accessibility to the GTA huge (HUGE!). The trails are fantastic and endless and now include a great sports park. The schools in the area are great and are not over crowded. The best part? The home prices are still affordable.
The East End has not even begun to reach its complete potential as several amenities are sited to be built in the area. Currently there is a French immersion school that is being built off of Couling Crescent sited to open Fall 2016. Talks are in the final stages of a much needed grocery store in the areas as well. What does this mean for house prices in the area? Your home’s value will only continue to appreciate as these amenities continue to be put in place.
Over the next little while, I am going to look in depth at your home investment in the Grange Hill area. I am going to break it up in 3 separate sets of statistics. We will examine Detached Homes, Semi-detached homes, and Town Homes.
From 2011 to 2015 median home prices have risen from $295,000 to $390,000. That’s a 24% ($95,000) increase in just 5 years! Not only have the house prices increased, the number of days on the market have substantially decreased. The median days on the market a home in Grange Hill as of the end of 2015 sat at 15.5 days.
Let’s take an even closer look at the data: over the last 5 years the median value of homes has risen with a year over year average of 5.2%. The biggest increase of 13% being between 2011 and 2012. These numbers tapered off a bit in 2013 but following years have all shown a strong increase with a 10% median house price increase.
Families typically like to move over the Summer to be ready for the school year in the Fall , so the first quarter of the year is usually pretty busy in the real estate world, especially in family friendly neighbourhoods such as Grange Hill. I was curious to see what this first quarter of 2016 was doing versus the first quarter of 2015. The first quarter of 2015 the median home prices sat at $379,450 and the first quarter of 2016 they increased to $397,400. Median house prices have increased almost 5%. The even more exciting part is that not only did prices increase, the number of days on the market that these homes were listed for literally halved. They went from 16 days on the market in Q1 2015 to 8 days on the market in Q1 2016. Amazing.
Looking at these numbers, there is certainly a strong upward trend in home prices, and an increased demand for these homes given the speed at which they are being sold.
If you have purchased a home in the Grange Hill, good for you! But if you haven’t, it ‘s not too late!