Real Estate

[GTA] Durham Region Developments Mega Thread

  • Last Updated:
  • Sep 25th, 2017 1:35 pm
Newbie
Mar 2, 2017
12 posts
6 upvotes
rigalpatel wrote:
Aug 24th, 2017 2:56 pm
New Seaton will definitely be pricier. They have advertised towns starting at 700s and Detached at 900s. That means no way can you get the 2800 SQ FT 36' lot that Mattamy is offering for 900k lol. I remember when they released to the insiders friends/family VIP opening the prices opened at 930k for a 30' lot that was less than 1800 SQ ft. This was a couple of months ago. I'm sure the prices will be the same if not more this time around for new seaton.
thanks regal. Whats your view on Whitby Meadows? Higher than Mattamy?
Deal Addict
Feb 22, 2011
1378 posts
1248 upvotes
Toronto
rigalpatel wrote:
Aug 24th, 2017 2:56 pm
New Seaton will definitely be pricier. They have advertised towns starting at 700s and Detached at 900s. That means no way can you get the 2800 SQ FT 36' lot that Mattamy is offering for 900k lol. I remember when they released to the insiders friends/family VIP opening the prices opened at 930k for a 30' lot that was less than 1800 SQ ft. This was a couple of months ago. I'm sure the prices will be the same if not more this time around for new seaton.
Wow Whitby is getting crazy, I remember 3 years ago looking at a two car garage resale in North Whitby and being shocked it sold for $480k after a bidding war.
Deal Addict
User avatar
Sep 8, 2007
4668 posts
2670 upvotes
Way Out of GTA
rjg4235 wrote:
Aug 24th, 2017 9:05 am
That might be more applicable in other areas. Whitby 4 bedroom houses have been pretty much unphased;

Image
Zolo data = garbage. So a 3 bed in Whitby fell $100k in 3 months, but 4 bed is flat over that same period?

Garbage.
Sr. Member
May 6, 2015
584 posts
129 upvotes
farmgate wrote:
Aug 24th, 2017 3:14 pm
thanks regal. Whats your view on Whitby Meadows? Higher than Mattamy?
It's tricky actually. Area wise it should be b/c country side was going for more than 800k for 30' singles over a year. This is literally a couple of kms south of the whitby meadows site. Once the 412 opened it jump to 900k in a matter of 2 months. So the area does demand a high price, however i'll say this: when you have 6 builders releasing such a huge project - they cannot expect everyone to buy at the insanely high prices.

With new seaton it was only 3 builders who have decided to release bits and pieces at a time so i think they can maybe get away with it. I think given the market it may be around the same as mattamy in terms of pricing, definitely not lower (let's face the builders not there to give money away). I suspect with so many builders they'll have a huge range of prices however. I.e you'll get a lot more choices of house sizes compared to mattamy and price points will vary with sq footage. RE is currently such a fluctuating asset that it's hard to see what's a good deal.

October is when the next rise in interest rate will be. This will dictate the demand - either people will start coming back which will increase demand and the prices will favour the builders or they'll hold back and wait a little longer in which case the demand will stay the same as now or decrease. In either case the builder will not budge on pricing. October is also when both New seaton and Whitby meadows will open so it'll be fun to see the competition between the two. I think buyers may get more incentives than earlier in the year.

My ideal location is new seaton but not for the ludicrous prices they were charging during their VIP opening. I prefer this location over Whitby Meadows and Queen's common. Between Queens Common and Whitby meadows, i'd go with the latter as it's closer to the 412 and not that far from the 401. Seems like a much nicer neighbourhood.
Newbie
Mar 2, 2017
12 posts
6 upvotes
rigalpatel wrote:
Aug 24th, 2017 3:31 pm
It's tricky actually. Area wise it should be b/c country side was going for more than 800k for 30' singles over a year. This is literally a couple of kms south of the whitby meadows site. Once the 412 opened it jump to 900k in a matter of 2 months. So the area does demand a high price, however i'll say this: when you have 6 builders releasing such a huge project - they cannot expect everyone to buy at the insanely high prices.

With new seaton it was only 3 builders who have decided to release bits and pieces at a time so i think they can maybe get away with it. I think given the market it may be around the same as mattamy in terms of pricing, definitely not lower (let's face the builders not there to give money away). I suspect with so many builders they'll have a huge range of prices however. I.e you'll get a lot more choices of house sizes compared to mattamy and price points will vary with sq footage. RE is currently such a fluctuating asset that it's hard to see what's a good deal.

October is when the next rise in interest rate will be. This will dictate the demand - either people will start coming back which will increase demand and the prices will favour the builders or they'll hold back and wait a little longer in which case the demand will stay the same as now or decrease. In either case the builder will not budge on pricing. October is also when both New seaton and Whitby meadows will open so it'll be fun to see the competition between the two. I think buyers may get more incentives than earlier in the year.

My ideal location is new seaton but not for the ludicrous prices they were charging during their VIP opening. I prefer this location over Whitby Meadows and Queen's common. Between Queens Common and Whitby meadows, i'd go with the latter as it's closer to the 412 and not that far from the 401. Seems like a much nicer neighbourhood.
thanks regal. New Seaton is my preference too, as it is closer to downtown TO (work) and family (Markham). Whitby Meadows would be further East. Lets hope both don't get released on same day :(
Deal Addict
User avatar
Sep 8, 2007
4668 posts
2670 upvotes
Way Out of GTA
farmgate wrote:
Aug 24th, 2017 5:02 pm
Anyone lining up for Mattamy release this Saturday?
Nope, just you...but please post pics.
Sr. Member
Nov 2, 2014
819 posts
187 upvotes
Scarborough, ON
How has the market been doing in Courtice/Bowmanville in the past month?
Jr. Member
Feb 12, 2008
135 posts
106 upvotes
Toronto
farmgate wrote:
Aug 24th, 2017 5:02 pm
Anyone lining up for Mattamy release this Saturday?
cartfan123 wrote:
Aug 24th, 2017 7:32 pm
Nope, just you...but please post pics.
Farmgate, I would really appreciate it if you took pics and can confirm if and incentives are provided ( 10k credit, hardwood and 9ft ceiling) .

Already bought in that community...as I wait my 18 or so months to close... Gotta occupy my mind :)
Newbie
Mar 2, 2017
12 posts
6 upvotes
MrCeddy wrote:
Aug 25th, 2017 12:04 pm
Farmgate, I would really appreciate it if you took pics and can confirm if and incentives are provided ( 10k credit, hardwood and 9ft ceiling) .

Already bought in that community...as I wait my 18 or so months to close... Gotta occupy my mind :)
MrCeddy, I will see if I can make my way down. With a newborn at home, its kinda tough. Lets see.
Deal Addict
User avatar
Mar 14, 2006
3916 posts
225 upvotes
i was just looking at a couple sold homes(both firm 2 days ago) in ajax. how do 2 homes similar in size, same lot have a difference of 130k?
no matter how you break down the difference, it should not add up to 130k.
main difference: brand new(compare to 2-3 years old?), 9ft main floor, 100-200sqft diff?
Image
Deal Addict
User avatar
Sep 8, 2007
4668 posts
2670 upvotes
Way Out of GTA
mingyang wrote:
Aug 25th, 2017 10:52 pm
i was just looking at a couple sold homes(both firm 2 days ago) in ajax. how do 2 homes similar in size, same lot have a difference of 130k?
no matter how you break down the difference, it should not add up to 130k.
main difference: brand new(compare to 2-3 years old?), 9ft main floor, 100-200sqft diff?
Image
I wonder if the cheaper house tried to price for a bidding war at $599 and it didn't go so well, but the sellers had to sell so they took whatever the best offer was? Other than a few architectural details they look very similar. Perhaps the $820 sold for more than it should have also? $820 you start seeing a lot of 2 car garage houses in the area. Just down the road this just sold for $820. Very nice inside and 2 cars.
Images
  • image.jpeg

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)