Real Estate

[GTA] Durham Region Developments Mega Thread

  • Last Updated:
  • Jun 21st, 2018 12:30 pm
Deal Addict
Apr 22, 2014
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, ON
KajananS wrote:
Jan 3rd, 2018 7:31 pm
Detached homes at Queen's Common by Mattamy Homes are starting at $630K?!
Wow that is very low! People is going to camp out a week early lol.
Newbie
Oct 31, 2010
82 posts
25 upvotes
is this phase 1 or 2,3? what was the price on the earlier ones if it's not phase 1
Newbie
Aug 9, 2016
13 posts
5 upvotes
Detached homes started at $765K last August @Queen's Common.
There could potentially be a couple of reasons for such variability in the starting price of the detached homes from 6 months ago.

- sqftge of the starting detached home may have decreased. Not sure what it was before but currently they are starting at 30ft lot 2 story 3 Bedroom 1350sqft.

-new stress test in effect on uninsured mortgages may have decreased the average buyers buying capacity, thus reducing the demand on homes above a certain price range.

- align the prices of new builds with the resale market.?


Anyways, would appreciate if someone can share the pricelist of the previous release if they had that handy.
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Last edited by KajananS on Jan 3rd, 2018 8:48 pm, edited 2 times in total.
Deal Addict
Feb 22, 2011
3737 posts
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Toronto
Guys don't fall for the starting from prices, common. They will have 1 bungalow unit that is 2 bedroom for that price and everything else that is standard in the area will cost $1m.
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Sep 8, 2007
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Way Out of GTA
rjg4235 wrote:
Jan 3rd, 2018 9:04 pm
Guys don't fall for the starting from prices, common. They will have 1 bungalow unit that is 2 bedroom for that price and everything else that is standard in the area will cost $1m.
Perhaps they got rid of the food truck, so now selling houses for cheaper?

People have to remember this is Mattamy who will try every trick in the book and there's pretty much zero chance they've dropped their starting detached price (for the same model) $130k or so from Aug.

But based on the initial comments the hype might have worked.
Member
May 2, 2017
267 posts
406 upvotes
KajananS wrote:
Jan 3rd, 2018 8:48 pm
Detached homes started at $765K last August @Queen's Common.
There could potentially be a couple of reasons for such variability in the starting price of the detached homes from 6 months ago.

- sqftge of the starting detached home may have decreased. Not sure what it was before but currently they are starting at 30ft lot 2 story 3 Bedroom 1350sqft.

-new stress test in effect on uninsured mortgages may have decreased the average buyers buying capacity, thus reducing the demand on homes above a certain price range.

- align the prices of new builds with the resale market.?


Anyways, would appreciate if someone can share the pricelist of the previous release if they had that handy.
Interesting. Im not aware of this development. But Mattamy dropped prices back in September for townhouses in oakville to 690k with 10k credits essentially selling for 200k less than for same units they had released in May. They dropped the prices by around 200k from their previous phase. They have not released anymore townhouses since then.
Jr. Member
Jan 6, 2012
158 posts
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ud8077 wrote:
Jan 3rd, 2018 10:47 pm
Interesting. Im not aware of this development. But Mattamy dropped prices back in September for townhouses in oakville to 690k with 10k credits essentially selling for 200k less than for same units they had released in May. They dropped the prices by around 200k from their previous phase. They have not released anymore townhouses since then.
wow. that's unbelievable...did the previous purchasers get a credit applied to their homes? they must be quite upset if they didn't. the mattamy development out here (selling in north pickering but development is in whitby--trying to hide the neighborhood the development will eventually be in, as its run-down) was outrageously priced right from the start...and they sold in dribs and drabs, so even within the same day of 'vip openings' which they had again and again, they would keep stepping up the prices as houses were selling. so its really hard to say or know where the price level was because they kept weaning it up as houses sold. i went to one of their first 'vip openings' and anytime i saw a house i liked and inquired the price they would say 'oh, we've sold out of those lots that can hold that house but we'll be releasing more next week'. if i asked to look at the current price list of those homes, they would reluctanly show you, but make sure to preface it by saying 'this is the old price list, the prices may not be the same when we release more'...aka, when they released more tomorrow. i got out of there, realized it was kind of a scam, so glad i never purchased.
Newbie
Apr 20, 2017
55 posts
14 upvotes
sweetlady123 wrote:
Jan 4th, 2018 11:00 am
wow. that's unbelievable...did the previous purchasers get a credit applied to their homes? they must be quite upset if they didn't. the mattamy development out here (selling in north pickering but development is in whitby--trying to hide the neighborhood the development will eventually be in, as its run-down) was outrageously priced right from the start...and they sold in dribs and drabs, so even within the same day of 'vip openings' which they had again and again, they would keep stepping up the prices as houses were selling. so its really hard to say or know where the price level was because they kept weaning it up as houses sold. i went to one of their first 'vip openings' and anytime i saw a house i liked and inquired the price they would say 'oh, we've sold out of those lots that can hold that house but we'll be releasing more next week'. if i asked to look at the current price list of those homes, they would reluctanly show you, but make sure to preface it by saying 'this is the old price list, the prices may not be the same when we release more'...aka, when they released more tomorrow. i got out of there, realized it was kind of a scam, so glad i never purchased.
Good decision...Electric Light Bulb
Deal Addict
Apr 22, 2014
1212 posts
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, ON
These are among many other reasons why I will never by from Mattamy. Too much BS and drama.
Newbie
Nov 9, 2016
55 posts
4 upvotes
I would be SO mad if I were one of those people that paid 150K more for the same house in August. Wow... Will be interesting to compare the new price list against the old one.
Newbie
Aug 9, 2016
13 posts
5 upvotes
Seems like they started off with the1450 sqft 30" detached for $775K last August. Now they are starting off with 1350 sqft 30" detached for 630K. In terms of $/sqft, $535/sqft then vs $465/sqft now which is still considerably a big drop in such a small time frame. Will the other builders follow these price drops? Will it have any impact on the current resale market? I guess only time will tell...
Newbie
Aug 9, 2016
13 posts
5 upvotes
People faught and paid premiums to secure appointments only to find out that they may have gotten ripped off. But hey who knows, what the future holds... Maybe these prices might skyrocket again in the spring market?! Being optimistic...
Deal Addict
Feb 23, 2009
1128 posts
1022 upvotes
Oshawa
care73 wrote:
Jan 4th, 2018 8:42 pm
I would be SO mad if I were one of those people that paid 150K more for the same house in August. Wow... Will be interesting to compare the new price list against the old one.
You do realize the market has been in decline since last Spring.
Newcon has lagged because builders kept prices up and uneducated buyers continued to over pay for newcon instead of buy better resale/older deals.
Since the market is dead and even slower now seasonally they have no choice but to lower prices.

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