The observed trend in Canada’s real estate market has shown some interesting and promising results in the recent years as compared to the US housing bubble burst that has so far been experienced. But many are skeptical of the rising debt levels which have reached record highs along with the house prices in the country. This fact has suddenly overturned the golden days of the booming real estate market in Canada into what experts think to be ushering in a grim future for property investors. Whether Canada’s flourishing real estate market will follow in the footsteps of her neighbor the US downfall in real estate market or stay buoyant, it remains a topic for debate though the tale-tell signs could be painting a grim picture altogether. Only time can tell the outcome.
The same trend has trickled down to various cities in Canada where scores of property investors have been pitching their tents to try their luck in the booming real estate in the country. Ontario is one perfect example and this vast region has had its share of ups and downs when it comes to its well-known vibrant real estate market. Midhurst Real Estate, Ontario has of late been at the focal point for both local and international property investors. What makes Midhurst the ideal place for real estate developers?
An overview of Midhurst Township
Midhurst, Ontario is a small town at the heart of Springwater in Ontario Canada within the vast Simcoe County. The town was named after Midhurst, a small town situated in the United Kingdom. Midhurst Community boasts of a sizeable population of about 3,000 people and this makes it the most populated township in the whole of Springwater municipality.
Given that Midhurst is situated within Springwater Township, this gives it a greater advantage for the growth of its real estate market. Being one of the numerous towns that make Springwater, Midhurst is in the midst of the most picturesque municipality where most of its residents reside just an hour’s drive from the Great Toronto Area (GTA). At the same time, the residents are still in close proximity to the city centers of Wasaga as well as Barrie City. This location is famous for the latest world-class social amenities and plenty of recreational centers which seem to attract many people to this region.
Midhurst Real Estate
According to the report from realtors, the recent slowdown in the housing prices is not yet expected to stay that way for a long time. This is attributed to the rising interest rates and the projected solid economic growth for the Springwater area. As a matter of fact, a lot is expected especially the moderate rise in home prices. That moderation is directly influenced by a number of factors such as the province’s economic status, the striking balance between demand and supply and lack of the ownership affordability.
In General, the Ontario home prices are likely to range between $562,000 and $ 575,000 for the year 2018 and go as high as $570,000 to $595,000 in 2019. For the buyers, it could mean something else, unlike the property developers who might seize the opportunity to earn more from real estate market within Ontario and Midhurst in particular.
Midhurst, Ontario was once ranked as 56th most expensive place to buy property in Canada. This is according to the real estate market report derived from the listed median in terms of house price a few months ago. Currently, the median house price in Midhurst stands at $1,068,750 after compilation of all home listings in the month of August 2018. From the data, it is revealed that the neighborhood comes at number 2634th in ranking when compared to the neighborhoods in relation to the number of homes or properties available to real estate investors in the entire country.
Midhurst: Average House Price
For the better part of the past three months of the year 2018, the average price for the property in Midhurst has stood at $ 527,605. This figure represents a drop in the market housing price of about 0.7% for the last three months (starting from August of 2018) and a drop of 2.57% since the previous year (2017). This is according to the current real estate market estimates of which the real estate in Midhurst falls under.
Midhurst: Real Estate Trends
According to the prevailing Midhurst Multiple Listings Services (MLS) stats, there is an indication of an average housing price of $778,690 with 26 new property listings for the last 56 days. Currently, Midhurst housing data clearly shows that the median days on the real estate market for a given property is 39 days. In brief, Midhurst housing prices stand at an average of $779,000 which translates to 4.1% for the monthly change and 32.1 % for the quarterly change as well as 1.2% yearly change in housing prices.
Along with Midhurst Real Estate statistics comes the ranking of all other neighborhoods within Springwater area and every detail is based on the home sold price, growth in the price, days on the market and then the turnover. Through these statistics, Midhurst housing market is compared to the rest of the other real estate markets in the neighborhoods within the city. As such, the information gives a comprehensive analysis of the real estate trends of both Midhurst and the entire Springwater area as a way of showing property investors and home buyers where they can invest.
From the statistics, it is obvious that Midhurst Real Estate is poised to stand the test of time. As a result, the market remains stable despite the risks of an imminent real estate market bubble burst that is threatening other areas and cities. The main reason why Midhurst could survive the downfall is the fact that the economy within Springwater is thriving and many people are choosing to settle in that region for various reasons. To the property investors, this could be good news all along since they are likely to enjoy the stable market as far as the current real estate market is concerned.
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