The Marshall Report – December 29, 2016: Single detached homes

single detached homes

This morning’s real estate news is about single detached homes. They are still at the top of the pecking order – it is what home buyers want, more now than ever.  That is according to this OREA study.

The problem of course is that:

1) there aren’t many single detached homes on the market, and

2) developers are building other types of housing at a faster rate.

Notable quotes

  • Industry sources agree that the lack of listings — resale and new homes —will continue to be the real estate story next year
  • High housing prices are bringing condo lifestyles into the mainstream for more young families.
  • Wise investors are looking at older condos because they frequently offer more space.
  • Town homes have become the new single

Factiods

  • In a city of almost three million people, only 537 detached homes were listed for sale on the Toronto Real Estate Board at noon Wednesday.
  • In Kitchener Waterloo there are only 113 single detached homes currently for sale and 30 of those are over $1Million.

 

Final thought

If you were thinking of buying a single detached home in Toronto, maybe now you’re looking at purchasing in one of the surrounding regions. Here is a link that talks about Whitby, but hey, they could be talking about Kitchener-Waterloo.

Source one

Source two

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