York Region Quarterly Luxury Real Estate Market Report – Second Quarter – 2009

The luxury home market in southern York Region* showed vibrancy in the second quarter of 2009. A total of 284 detached homes sold for $750,000 or more, down only 20 units over the same period in 2008. Two homes broke the $4 million sales price barrier this quarter – a $4.2 million home in King, and a $4 million home in Vaughan. The following report provides an overview of properties listed at or sold for $750,000 or greater during the second quarter of 2009.

Aurora

The Aurora area currently has 71 properties for sale in the $750,000+ price range. In the second quarter of 2009, 19 luxury properties sold, versus 16 in the same period of 2008. Days on market increased to 56 days, up from 20 days in 2008. The median sold price was $1.15 million, with the top sale in the quarter for this community at $2.095 million.

King

In the second quarter of 2009, 34 properties sold for $750,000 or more, almost double the volume during the same time period in 2008. Median sale price was $926,300 – a decrease of five per cent over the same quarter in 2008. Days on market were down from 50 to 41. The highest sale for the community was $4.2 million, compared with $3.75 million in 2008. There are currently 101 top-tier homes available for sale, with the highest listing at $4.85 million.

Newmarket

Newmarket experienced a slight increase in median sale price in the second quarter of 2009, from $811,500 in 2008 up to $830,000 in 2009. The top sale in the second quarter of 2009 in Newmarket was $925,000. Eight luxury properties are currently on the market, with the highest priced listing at $915,000.

Richmond Hill

In the second quarter of 2009, 92 properties sold, down 19.3% from 114 sales in the second quarter of 2008. The median sale price was $887,000, and properties were on the market for 31 days. The top sale in the quarter in Richmond Hill was $3.5 million, compared with a top sale of $2.45 million in the same period in 2008. The top-priced listing is currently at $3.999 million.

Thornhill

Thirty-six properties sold in Thornhill, with the highest sale reaching $1.9 million. Sales volume was down slightly, from 41 units in 2008 to 36 in 2009. The median sale price was $960,000, up 8.5% over 2008. Eighty-eight properties priced at $750,000 and above are now available for sale. The highest priced listing in Thornhill – and for the entire study area – is an estate home listed at $9.38 million.

Unionville/Markham

Fifty properties sold in Unionville and Markham, with the highest sale reaching $1.44 million. Sales volume was up slightly, from 47 units in 2008 to 50 in 2009, as was days on market – from 27 days in 2008 to 29 days in 2009. The median sale price was $845,000, equal to that of 2008. Seventy-five properties priced at $750,000 and above are now available for sale. The highest priced listing in the area is $2.899 million.

Vaughan

Vaughan, including Woodbridge and Kleinburg, has 93 top-tier properties for sale. In the second quarter of 2009, 31 units sold, down almost 30% from the 44 sales achieved in the second quarter of 2008. Median sale price was down from $900,000 in 2008 to $850,000. However, the top sale came in at $4.0 million – almost double the top sale of $2.18 million in the second quarter of 2008. The top listing currently offered for sale is at $4.78 million. Days on market remained fairly steady, from 24 days in 2008 to 25 days in 2009.

Whitchurch-Stouffville

The Whitchurch-Stouffville area has 103 properties for sale in the $750,000+ price range. Sales volume increased from 15 sales in the second quarter of 2008 to 19 in 2009. The median sold price in this area was $1.01 million, with the top sale at $1.550 million. This represents a 6.3% increase in median sale price. The highest listing is currently offered for $4.25 million. Median days on market dropped to 39 days from 47 days.

*Note: Commentary is based on detached residential properties listed on the Multiple Listing Services (MLS) in TREB map areas N01-N08 and N10-N14, with a sold price of $750,000 or greater, that sold during the months of April, May, and June 2009. Data was collected on July 1, 2009. Days on Market calculations are based on median values.

Homes For Sale As an Investment

Denver offers up some of the best living in the country, real estate included. And Greenwood Village homes for sale in the area offer up a wonderful place to live, along with a strong solid investment. The Denver area boasts an array of activities, from horseback riding, golfing, skiing, mountain climbing, hiking, river rafting to the more elite Broadway shows, fine dining and shopping at the finest boutiques and specialty shops. There is always something to do and no matter if you are looking for adventure or a day at the spa, Denver will have a place for you.

With 42 metropolitan areas and 7 counties, Denver is the largest city in Colorado, as well as the state’s capital. In Greenwood Village, homes for sale are located conveniently near all the cities major attractions, the big city as well as the picturesque mountains.

The Greenwood Village homes for sale are in the top competing market against Cherry Creek condos, Lodo lofts and many other homes for sale in cities such as, Castle Rock, Brighton, Aurora and Littleton. All of the communities are surrounded by tree lined streets, beautiful mountains and plenty of the area’s finest attractions. The nightlife of the city offers up some of the most exciting night clubs and discos along with great entertainment from Broadway shows, plays and opera. Some areas will offer quiet and relaxed neighborhoods with gated communities and exclusive country clubs while others will be on the bustling streets in the middle of the action in downtown Denver.

Greenwood Village homes for sale are a great way to meet in the middle; you are given a peaceful quiet atmosphere, but also still are very near the action of the big city.

The economy the way it is at the moment has made it possible to purchase homes at a very affordable price. You can find Greenwood Village homes for sale that are well below market value. This creates a great investment for potential home owners who want to invest in property in a great area, one that is rapidly growing and will continue to increase in value.

Many of the Greenwood Village homes for sale are listed due to foreclosures in the Denver area. With the economy being down and many people losing their jobs and unable to refinance their homes, the ones who were stuck with high interest rates were unable to make the increasing payments and were forced to lose their homes. The banks are offering the Greenwood Village homes for sale now with a very cheap price tag, extremely low interest rates and very desirable loan features.

You can find mortgage loans that allow you to purchase a home with little or no money down; there are government bonded loans that will even pay a percentage down for you. There are many ways to get into a home in the Denver area that has already accumulated equity; this makes Greenwood Village homes for sale a great investment for the future.

St Petersburg

St Petersburg is a fascinating city, from the wonderful architecture to the many treasures held in the Hermitage museum. It may surprise you that the city is relatively new, it was only founded at the beginning of the 18th century when Peter the Great captured Swedish outposts along the river Neva and founded the Peter & Paul fortress. In its time, it has also been renamed Petrograd and Leningrad before converting back to its original name. Despite its violent history, St Petersburg has a somewhat fairytale charm and is often referred to as the “Venice of the North” with its many waterways.

There are a lot of things you can do and see in St Petersburg. Below are a few suggestions of where to visit.

Museums

If you are interested in history, I suggest you visiting one of the world’s most famous museums, the Hermitage, home to around 3 million works of art from the Stone Age to the 20th century. Here you can study stone and bone figurines from the Palaeolithic age, admire jewelery made by the iconic FabergĂ© and see how armies were protected by different types of Armour.

Often overlooked in favor of the Hermitage, the Russian Museum is also a treasure trove of fine art. Famed for its many paintings, it also houses sculptures, folk handicrafts, engravings, medals and coins. A fascinating insight into Russian art and culture.

Cathedrals

Prepare to be impressed by the cathedrals of Kazan and St Isaacs. Constructed at the beginning of the 19th century, Kazan was inspired by St Peters Basilica in Rome. From 1932 until recently, the cathedral did not hold any services and became home to collections of the Museum of the History of Religion and Atheism. The cathedral now holds services but shares its premises with the museum, although the word atheism has been removed from the latter title. If you’re feeling fit, you can climb the 300 or so steps to the base of the dome of St Isaacs to admire the spectacular views across the city. Inside marvel at the columns made of single pieces of red granite that weigh around 80 tons each.

Royal history

Winter Palace, also home to the Hermitage Museum. A masterpiece of baroque architecture, the Winter Palace lays claim to 1,786 doors, 1,945 windows and 1,057 elegantly and lavishly decorated halls and rooms. Alternatively, stroll through the Summer Garden to the Summer Palace, so called because it had no heating and was intended only for summer time use. Consisting of two stories with 7 rooms each, the palace was restored after WWII and houses became a collection of 18th century artifacts, mainly from Peter the Great.

You can also pay your respects to the Romanov family at the Peter and Paul Cathedral, which is inside the fortress and contains the tombs of the imperial royal family. It wasn’t until 9 years ago the murdered Tsar Nicholas II, his wife and children were interred at the cathedral after having lain buried in a pit for many years.

In the Navy

The historical battleship the Aurora (not to be confused with the P&O cruise ship!) started out life taking part in the Russo-Japanese War at the beginning of the 20th century before being used for training. She’s also given the signal to start the storming of the Winter Palace and her guns were used on St Petersburg’s defenses during WWII and the 900-day siege of Leningrad. Fortunately, life is more peaceful for her now as a floating museum, full of history about her life.

Take a stroll through the Admiraltys gardens, which are particularly beautiful in height of the summer. Originally designed as a dockyard, the Admiralty was then fortified to become a city defense and was Russia naval headquarters until 1917. The landmark is now a naval college and is the focal point of the main streets of Nevsky Prospect, Gorokhovaia Street and Voznesensky Prospect.

A walk in the park

Take a walk through the Botanical Garden, originally an apothecary (an early pharmacist to you and me) garden where medicinal plants and herbs were grown it soon extended its collection to include rare and exotic plants. One of the more unusual exhibits is the Queen of the Night, which flowers for one night only every May.

If you visit the Russian Museum, why not meander through Michael Garden which adjoins it. In its time the garden has served as a formal French garden, hunting reserve, nursery and a place for horseback riding. Nowadays it is an interesting combination of regular French style around the outside and English landscape in the middle.

Shop until you drop

Many of us remember images of barely stocked Russian shops with unimaginative goods for sale. There’s now plenty to attract shopaholics, from art and antiques to books and souvenirs. Why not pick up some original, local artwork, a rare edition of a classic Russian novel, amber jewelery or iconic matryoshki (nesting dolls)? The best areas for shopping are to be found at Nevsky Prospekt or Bolshoi Prospekt on Vasilyevsky Island.

These are just some of the many highlights of St Petersburg. With so much to see and do, you’ll find yourself going back again and again. Most cruise lines offer itineraries that include St Petersburg, such as Princess Cruises, Norwegian Cruise Line, P&O, Costa, Cunard, Celebrity and Fred Olesen. So what’s stopping you? Make St Petersburg your next stop.