Real Estate

[GTA] Durham Region Developments Mega Thread

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  • May 21st, 2018 2:12 pm
Sr. Member
Feb 23, 2009
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Oshawa
rjg4235 wrote:
Feb 1st, 2018 2:23 pm
He said we are at 2014 prices, I said we are not. I never disputed prices in Whitby are down from last spring.
That's better.
Not so bullish...
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Mar 14, 2006
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yea i agree with house price of 1.2+ mill in durham is limited market. the demand is super low. not to mention 10+k in property tax
Penalty Box
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Aug 11, 2005
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Repooc wrote:
Feb 1st, 2018 2:06 pm
I think this case is an outlier... and you know this.

There's a very limited market for $1.5M+ houses in Durham region. That is clearly a custom build home on what would likely be a lot that is acre or more.

Houses in this price range can fluctuate drastically given the limited demand/buyers.

I'd like to see you find a similar sold comparison for a house in a "cookie cutter" development around the $900K to $1M range, which tends to be the going rate for 4 bedroom homes in Whitby now.
How bout this?

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google NotDoug
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Feb 22, 2011
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Toronto
Luckyinfil wrote:
Feb 1st, 2018 3:42 pm
How bout this?
It really amuses me that you had to go through hundreds of sales to find 1 like this.

I would post the other 99 that are higher than 2016 prices but it's a waste of time.

There is definitely something up with that house, other comps are selling at 50% higher;

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Jr. Member
Jan 6, 2012
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i have to agree with that too...there is no way that house could have gone for 610 without other bidders coming out of the woods...without something being seriously wrong. i wish you could get more information on houses like that, ie., were they crack/weed house, or something else along those lines. of course, the house could have been perfectly fine, but i truly doubt it.

there were a lot of great deal in durham, esp whitby/oshawa, and even ajax just around christmas, i guess buyers had to sell and some lucky few people got great prices for detached homes and got the advantage of great timing
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Feb 22, 2011
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sweetlady123 wrote:
Feb 1st, 2018 4:37 pm
i have to agree with that too...there is no way that house could have gone for 610 without other bidders coming out of the woods...without something being seriously wrong. i wish you could get more information on houses like that, ie., were they crack/weed house, or something else along those lines. of course, the house could have been perfectly fine, but i truly doubt it.

there were a lot of great deal in durham, esp whitby/oshawa, and even ajax just around christmas, i guess buyers had to sell and some lucky few people got great prices for detached homes and got the advantage of great timing
That's the problem with looking at individual ones there are anomalies. It goes both ways too clearly something is up when a 3 bed 2 bath townhouse goes for the same as a 4 bed 4 bath detached;

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Sr. Member
Feb 23, 2009
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Oshawa
rjg4235 wrote:
Feb 1st, 2018 4:44 pm
That's the problem with looking at individual ones there are anomalies. It goes both ways too clearly something is up when a 3 bed 2 bath townhouse goes for the same as a 4 bed 4 bath detached;

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You are right, there is something wrong.
Buyers (and builders) are still hanging on to high prices for new (or almost new) construction. Anything comparable that is 5+yrs old can be found way cheaper.
Plenty of detached resale in Durham at $600K or less in better locations...but they are older.
Millennials like new and shiny things and are still over-paying.
It's the end of the cycle.
That will end soon.
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Sep 8, 2007
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Way Out of GTA
rjg4235 wrote:
Feb 1st, 2018 4:44 pm
That's the problem with looking at individual ones there are anomalies. It goes both ways too clearly something is up when a 3 bed 2 bath townhouse goes for the same as a 4 bed 4 bath detached;

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This is clearly a house in ruin. That’s either a grow house or abandoned. A closer look at the roof tells all.
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Feb 22, 2011
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pkrash wrote:
Feb 1st, 2018 4:55 pm
You are right, there is something wrong.
Buyers (and builders) are still hanging on to high prices for new (or almost new) construction. Anything comparable that is 5+yrs old can be found way cheaper.
Plenty of detached resale in Durham at $600K or less in better locations...but they are older.
Millennials like new and shiny things and are still over-paying.
It's the end of the cycle.
That will end soon.
I mean you say that like it's not a lot. 2 years ago I almost bought a 2 story 2 car garage house for $480k in Whitby. Similar houses today are between $600k-$700k.
Sr. Member
Feb 23, 2009
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Oshawa
rjg4235 wrote:
Feb 1st, 2018 5:02 pm
I mean you say that like it's not a lot. 2 years ago I almost bought a 2 story 2 car garage house for $480k in Whitby. Similar houses today are between $600k-$700k.
I know Durham very well.
If you say the house is $600-700K now, it was easily $700-850K last Spring.
Detached resale in Whitby is down 20% or more.
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Jan 6, 2012
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cartfan123 wrote:
Feb 1st, 2018 5:00 pm
This is clearly a house in ruin. That’s either a grow house or abandoned. A closer look at the roof tells all.
yes..and when you think of where the damage is...right over the garage...hmmm
our family friend lived right beside a grow op in pickering! the only way she suspected (just before the cops showed up one day) was because in the winter their house was the only one with a roof with no snow...lol. there were no other signs/smell, etc.
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Feb 22, 2011
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pkrash wrote:
Feb 1st, 2018 5:15 pm
I know Durham very well.
If you say the house is $600-700K now, it was easily $700-850K last Spring.
Detached resale in Whitby is down 20% or more.
That sounds bad until you realize it was up 35% from the year prior.
Sr. Member
Feb 23, 2009
987 posts
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Oshawa
rjg4235 wrote:
Feb 1st, 2018 6:07 pm
That sounds bad until you realize it was up 35% from the year prior.
Stop living in the past.
It's 2018.
What's the price now and is it going up or down?
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Feb 22, 2011
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Toronto
pkrash wrote:
Feb 1st, 2018 7:27 pm
Stop living in the past.
It's 2018.
What's the price now and is it going up or down?
Zolo has average Whitby 4 bed at $810k with month and quarter trending up. It also has sales up 15% YoY and MOI under 3. Overall I'd say it's trending pretty well.

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