May 18, 2024

Property Management Tips, RYPM Resources

RYPM

Georgina is a beautiful town on the southern shore of Lake Simcoe in Ontario, Canada, long reputed as the place of seasonal rental markets targeting the tourist and native population.

Royal York Property Management combines great service and expertise to satisfy the needs of landlords, investors, and tenants across the country, making it one of the major property management companies in Ontario. We deal with a vast portfolio of more than 22,000 properties worth over $10.1 billion and grow trust in the real estate area daily.

At Royal York Property Management, we observe vibrant changes in this market, which form the future of real estate investment in the area. As we step into 2024, it is important to realize how the seasonal rental market in Georgina is transforming. Whether you are a property owner, a renter, or an investor, market trends are important.

Overview of Georgina's Current Market

Current Market Overview 
  

Currently, the average house price in Georgina stands at $892,305. This shows the massive demand for properties in the area. In the past 28 days, 231 new listings have been reported in Georgina—an indication of the healthy supply of properties listed on the market.

The homes in Georgina are selling somewhat quickly, given that the average days on market are 26 days. What brings the average price down to this value are the property types sold. The detached houses, townhouses, and condos make up this lively housing market.

Rent Price Trends

In the meantime, the price of rent has shot up in Georgina. In just the last month, it has dramatically gained 16%. In the last year, it has risen by 7%. Currently, it is at a median of $3,200 in Georgina, making it attractive both for short-term and long-term renters.

Sales Volume and Inventory 
  

In the last 28 days, 58 homes have sold in Georgina. Days on the market vary by property type. Knowing these trends can help buyers and sellers plan their moves. Georgina's selling-to-listing price ratio is 99%, which means it's a seller's market and homes are selling at almost full asking price.

Gerogina Rankings
  

Georgina is the 23rd most expensive housing market in the GTA. It may not be the hottest market, but it does offer the best of both worlds when it comes to affordability and amenities.

Seasonal Rental Market Overview

Georgina is a popular vacation destination due to its pristine beaches, cozy cottages, and other outdoor amusements. Over the years, the number of people renting houses for a short-term stay has always been higher during the summer, but now, off-season visits are just as popular. This, however, is part of the larger trend where tourists are venturing out at quieter times of the year for an altogether more rewarding experience.