Great news for Oshawa home Buyers and home Sellers. A recent article published by MoneySense Magazine lists Oshawa as top place to buy real estate in the GTA.
The magazine examined 35 of Canada's top large cities and compared housing prices and price appreciation then considered value, momentum, income potential and economic health. The Durham Region/Oshawa area also ranked 9th in Canada (inching up a spot from 10th last year). In the ranking for five year appreciation, Oshawa placed first in the GTA and second in Canada.
According to Durham Region Real Estate Board market statistics from March 3, 2016, the current average sale price of a single detached home in Oshawa is $442,597. The overall average selling price is $407,166, which represents an impressive 5 year appreciation rate of eight per cent.
On top of the overall great rating for Oshawa, two of Oshawa neighbourhoods, when compared to 400+ neighbourhoods in the Toronto area, made the top 25 list for real estate investment. The central Oshawa neighbourhood ranked #5, and the O'Neill neighbourhood rounded out the list at #25.
Two other Oshawa neighbourhoods, Windfields and Taunton, received high marks from Realtors and were among a small group of 19 Toronto neighbourhoods out of 400+ neighbourhoods to receive the top 4-star rating.
Oshawa Mayor, John Henry says "Oshawa is one of the best places to live and invest. Our community boasts an exceptional quality of life and top-notch post-secondary options; job opportunities in growth sectors; and a wide variety of leisure and recreational opportunities. Include an integrated transit network of highways 401 and 407, Durham Transit, GO Transit, VIA Rail, airport and harbour. Oshawa simply has it all."
"Oshawa has a robust housing market with both existing homes sales and sales in new subdivisions." added Councillor John Aker, Chairman of the Development Services Committee. "There is excellent choice and value for home Buyers who want to live in a healthy, safe and progressive community."
Oshawa Realtor, Dianna Mandzuk with RE/Max Jazz, agrees "We're seeing unprecedented activity in the Oshawa resale housing market. I haven't seen activity and numbers like this before in my 30 years in real estate. There is definitely a demand and right now supply is low, so those who do sell, in most cases are doing very well!".
Other interesting numbers from the study placed nearby Peterborough, Ontario in the 24th slot while Toronto settled in at number 15 on the list.
Original article source Oshawa This Week. March 18, 2016 and MoneySense.ca "Canada's top cities to buy real estate in" by Romana King & Mark Brown, March 9, 2016.
Dianna Mandzuk and her Team have been helping home buyers and home sellers with their real estate needs for 30+ years in Pickering, Ajax, Whitby, Oshawa, Durham Region, Courtice, Bowmanville, Newcastle, Newtonville, Port Hope - Rural, Cobourg - Rural, Orono, Kendal, GardenHill, Elizabethville, Campbellcroft, Millbrook, Fraserville, Cavan, Bethany, Pontypool, Janetville, Nestleton, View Lake, Omemee, Caesarea, Blackstock, Burketon, Leskard, Enniskillen, Haydon, Tyrone, Solina, Hampton, Clarington, Port Perry, Scugog, Brooklin, Raglan, Little Britain, Seagrave, Rural Manvers, Victoria, Southern part of the City of Kawartha Lakes, Port Granby, Wesleyville, Port Britain, Baltimore, Dale, Zion, Clarke, Osaca, Canton, Decker Hollow, Crooked Creek, Kirby, Dranoel, Tapley, Fleetwood, Lifford, Yelverton, Lotus, Cadmus, Mount Pleasant, Ida, Emily, Manvers, Maple Grove, Mitchell Corners, Enfield, Prospect, Shirley, Utica, Glen Major, Uxbridge - Rural, Columbus, Sonya, Fingerboard, Valentia, Goodwood, Port Darlington, Wilmot Creek / Wilmont Creek.
Thinking of Buying or Selling? Contact us. Complimentary Current Market Evaluations PLUS staging is always FREE when you list your home with The Dianna Mandzuk Team!