Real Estate

[Treasure Hill] Canyon Hill - Richmond Hill 70% sold in 1 day UPDATE: SOLD OUT

  • Last Updated:
  • Jul 16th, 2019 9:13 am
[OP]
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Feb 29, 2008
11000 posts
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[Treasure Hill] Canyon Hill - Richmond Hill 70% sold in 1 day UPDATE: SOLD OUT

Some of these had to have been re-sold but still pretty impressive. Not a bad deal either considering Treasure Hill offers a pretty decent package.

https://www.treasurehill.com/new-homes/ ... WMQAvD_BwE

"VIP" Pricing: https://portal.agentplan.ca/emails/dfd8 ... ist1,2.pdf
Last edited by JayLove06 on Jul 12th, 2019 4:22 pm, edited 1 time in total.
29 replies
Deal Addict
Jan 9, 2010
1664 posts
838 upvotes
The prices may seem ridiculous, which they are, but compared to what they were at the peak in 2017 it's nothing to write home about since resales were selling for similar. Keep in mind that there is historically a premium for new builds also.

Again, this goes to show that prices have come down quite a bit in RH, but are slowly making their way back up.
[OP]
Deal Guru
Feb 29, 2008
11000 posts
6178 upvotes
moofur wrote: The prices may seem ridiculous, which they are, but compared to what they were at the peak in 2017 it's nothing to write home about since resales were selling for similar. Keep in mind that there is historically a premium for new builds also.

Again, this goes to show that prices have come down quite a bit in RH, but are slowly making their way back up.

Yea, compared to 2017 prices have gone up, and yet they're still pretty high now. Just shows how crazy 2017 was. Surprised to see these sell that quickly, though....in RH no less.
Newbie
Mar 21, 2007
41 posts
29 upvotes
GTA
I see the end/corner units are about 10% more than the middle units. Is the 10% end/corner premium normal for townhouses?
[OP]
Deal Guru
Feb 29, 2008
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foreverold wrote: I see the end/corner units are about 10% more than the middle units. Is the 10% end/corner premium normal for townhouses?
Seems pretty normal to me.
Newbie
Apr 20, 2016
20 posts
7 upvotes
moofur wrote: The prices may seem ridiculous, which they are, but compared to what they were at the peak in 2017 it's nothing to write home about since resales were selling for similar. Keep in mind that there is historically a premium for new builds also.

Again, this goes to show that prices have come down quite a bit in RH, but are slowly making their way back up.
Yes, I can confirm that these are selling super fast. I'm a VIP agent for this project and the demand is huge...pricing is favourable compared to similar projects (about $200k less than some other precon towns in RH). Also, remember that approx. 100 detached lots were recently sold in Aurora in a matter of just over a week at much higher prices. The market in York region is definitely strengthening, especially for well priced projects.
[OP]
Deal Guru
Feb 29, 2008
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It's interesting how popular these luxury freehold townhouses have become when you consider detach and semis are not that much more expensive on the resale market. What would make someone buy a townhouse without a yard over a resale detach with a big front and back yard and more square footage? Yes, it's new! But that newness will wear off.
Deal Addict
Feb 7, 2010
1582 posts
285 upvotes
Toronto
foreverold wrote: I see the end/corner units are about 10% more than the middle units. Is the 10% end/corner premium normal for townhouses?
For an extra wall of windows? Yeah.
Member
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Dec 17, 2009
239 posts
152 upvotes
JayLove06 wrote: It's interesting how popular these luxury freehold townhouses have become when you consider detach and semis are not that much more expensive on the resale market. What would make someone buy a townhouse without a yard over a resale detach with a big front and back yard and more square footage? Yes, it's new! But that newness will wear off.
Asian people love new.
Sr. Member
Jan 12, 2017
837 posts
369 upvotes
IMHO, I wouldn't say most are comparing the different types. Simply put, this is as cheap as it gets for new, unencumbered freehold. Most people want to buy without any hassles and don't want to have to really think about it.

Buying new development simplifies home buying to slightly more than ordering/buying a new car and having to get your own car loan. It's a bit more complicated, but same principle as why Bell likely still has a large number of residential phone customers.
JayLove06 wrote: It's interesting how popular these luxury freehold townhouses have become when you consider detach and semis are not that much more expensive on the resale market. What would make someone buy a townhouse without a yard over a resale detach with a big front and back yard and more square footage? Yes, it's new! But that newness will wear off.
Deal Addict
Dec 10, 2007
2049 posts
45 upvotes
JayLove06 wrote: It's interesting how popular these luxury freehold townhouses have become when you consider detach and semis are not that much more expensive on the resale market. What would make someone buy a townhouse without a yard over a resale detach with a big front and back yard and more square footage? Yes, it's new! But that newness will wear off.
One factor would be buying for the neighborhood (even though IMO not in this case since Yonge & Elgin Mills can hardly be considered as anything but mundane); e.g. something like this https://www.bungol.ca/listing/51-york-m ... 5-3758813/ would basically allow you to buy a bigger detached house almost anywhere else in Toronto.
[OP]
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Feb 29, 2008
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Sepiraph wrote: One factor would be buying for the neighborhood (even though IMO not in this case since Yonge & Elgin Mills can hardly be considered as anything but mundane); e.g. something like this https://www.bungol.ca/listing/51-york-m ... 5-3758813/ would basically allow you to buy a bigger detached house almost anywhere else in Toronto.
Oh yea. I completely get the neighbourhood thing. Put this project in Leslieville and it's double the price. But are people really buying here for the location? I guess for those who eat, work and play in Richmond Hill, Markham or Vaughan? It is interesting how you will see a $1.2M townhouse brand new, then 2 blocks away resale townhomes (not as nice) going for 750K.

I guess I don't know enough about RH. That York Mills townhouse I get since it's near the subway and nice neighbourhood.
Jr. Member
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Jun 28, 2018
155 posts
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Aurora, Ontario
JayLove06 wrote: It's interesting how popular these luxury freehold townhouses have become when you consider detach and semis are not that much more expensive on the resale market. What would make someone buy a townhouse without a yard over a resale detach with a big front and back yard and more square footage? Yes, it's new! But that newness will wear off.
I went through the same mental exercise last year. Ended up buying an older detached. There seems to be a huge premium for new and/or 100% freshly renovated. I guess that's why builders AND flippers make money.
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Jul 4, 2006
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Are the floor plans better than over at 16th and McCowan?
[OP]
Deal Guru
Feb 29, 2008
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poorwingman wrote: Are the floor plans better than over at 16th and McCowan?
I think so. Much larger spaces. Trendi felt chopped up. and too many floors.

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