North Oakville Prices on the way down?
Was looking at prices at Glen Abby and North Oakville, I noticed many builders still charging crazy for new build pre con, but the resale in the area for the same homes are significantly less.
Oct 5th, 2019 10:29 am
Oct 5th, 2019 10:42 am
Oct 5th, 2019 10:51 am
Oct 5th, 2019 11:36 am
Please check the picture linked in my OPJayLove06 wrote: ↑ Where are you seeing the same homes selling for cheaper? Compare apples to apples as well. A 20 year old house is not the same as a brand new house. That said, the precon prices are high. I just don't see where people are selling similar product for cheaper. This is a nice area. They have townhouses selling for 1.5M+ resale
Also, you don't buy here to flip. Anyone doing so is an idiot. You buy here to live with your family for some time. 10+ years down the road you will see a good return on your investment. Gotta play the long game with this kind of real estate and if you're not prepared to do so then don't buy.
Oct 5th, 2019 11:39 am
I was talking about Glen Abbey. As far as the other location, yes there are resale homes from the same builder going for less. Yes, you're right, resale would be a better deal. But you leave out the part that some people simply don't have the 20% down right away. New consruction gives them a couple years or longer to save/come up with the money and also increase income. Also, some willing to pay a bit more to pick their own finishes.
Oct 5th, 2019 11:39 am
Oct 5th, 2019 12:16 pm
Exactly...it's underlisted. It was listed for 1.45 a month back..They will probably sell for 1.3 ...
Oct 5th, 2019 12:18 pm
Oct 5th, 2019 12:42 pm
Oct 5th, 2019 1:11 pm
Oct 5th, 2019 5:06 pm
Oct 5th, 2019 10:38 pm
Wrong, yes there are properties that did tank 30% or so.
Oct 5th, 2019 11:28 pm
Oct 6th, 2019 2:08 am
Oct 6th, 2019 9:58 am
Oct 7th, 2019 7:25 am
The bears like it in that they can grab a screenshot of the listing which is priced for a bidding war and then say “look how prices are down”. When in reality the price it actually sells for is much much higher.
Oct 7th, 2019 12:46 pm
Leaside just had a place go for $1M+ over asking for $4M +
Oct 7th, 2019 2:31 pm
itoothache wrote: ↑ Wrong, yes there are properties that did tank 30% or so.
But only a handful. I thought everyone did but more houses I look at that's not actually the case.
People did go over their budgets though
I would say prices are maybe ~10% below peak on average and if we consider inflation, ~15%
Oct 7th, 2019 5:48 pm
wow-oakville-new-townhomes-now-1m-singl ... e-2316217/
Oct 7th, 2019 7:13 pm
You forgot that it’s bioanatomically impossible for prices to drop (thanks buttcoin). Any drop will immediately be bought up by the rich immigrants with BOATLOADS of cash.