Jim Mason
There were many buyers and many homes for sale in Stouffville this spring, including three on this block of Hoover Park Drive, local realtors say.
Whitchurch-Stouffville
May 17, 2008 01:04 AM
Stouffville bungalows remain popular
By: Alyshia Higgins
From a record-breaking high last year to a slight decrease in activity this year, the real estate market seems to be back on track for a healthy year.
“There is a lot of good supply out there and there seems to be a lot of buyers, too,” said John Walley, broker with Sutton Group Town and Country Realty in Stouffville. “Things aren’t selling as fast as maybe they have in the past, but again, that’s not a bad thing either. We’re (still) busy.”
A report released by the Toronto Real Estate Board this month showed housing activity was slightly down in the GTA in comparison to this time last year. While Mr. Walley said things are a little slower than last year, other areas actually increased, including Scarborough East and Willowdale.
“We’ve definitely got a seller’s market,” said Maureen O’Neill, board president, meaning there are more people looking to buy than there are people selling.
In addition to the varying market numbers, the buyers are just as diverse, Mr. Walley said.
“There (are) people (who) want to be in a mature area. They prefer century homes or custom built homes on larger lots,” he said. “Then there are people (who) just want new homes only.”
There are pros and cons to both, Maria Gallo of Gallo Real Estate Ltd. said.
“If you buy a new home, there (are) things (such as) landscaping to do, whereas, if you buy a resale, most of that stuff is done,” she said, adding new homes have up-to-date features, which is important to some people.
According to both Mr. Walley and Mrs. Gallo, buyers are coming from south of Whitchurch-Stouffville, including Markham and north Scarborough.
While the average cost of a house in the GTA, according to the board report, was less than $400,000, the same report stated the average price of housing in Stouffville was about $438,000.
Both brokers also say there’s a market for one-storey homes, and predict there will be for quite some time,
“There is a demand for bungalows because of our aging population,” Mrs. Gallo said.
“There (has) always been a market for bungalows,” Mr, Walley said.
Despite the slight decrease in resale housing activity, Ms O’Neill is still pleased with the numbers.
“Last year, we had record, record numbers,” she said, “So, even if (the numbers) are down five per cent, it’s still spectacular numbers. I think it’s a pretty wonderful market right now.”
Mr. Walley also predicts a consistent finish to the year.
“It’s becoming more of a normal market (again),” he said. “I think it’ll be a good, steady market for the rest of the year.”