New Condos in Grimsby
Nearby Cities with New Condos
The world-renowned Grimsby waterfront is a symbol of vibrant community life and beautiful scenery for its community of +28,000 people. In addition to the scenery, the area’s parks, marinas, and trails make it a popular destination for visitors who are only here for a short while. Rentals near the waterfront are in high demand with the area’s natural beauty, excellent facilities, and proximity to major cities.
Looking for the latest details on new condos in Grimsby or other new developments in this city? We have all the info to help you find the best homes in Grimsby.
Grimsby Pre-Construction Condo Market Trends 2024
- Average condo price (existing and new) in Grimsby as of September 2024: $675,000, an affordable price point in the GTA.
- Average home price (old and new) in Grimsby as of September 2024: $1,064,837.
- Average rental prices in Grimsby: around $2,400 per month.
- Average days on the market for townhouses in Grimsby: 17 days.
- Average days on the market for homes in Grimsby: 38 days.
Pre-Construction Condos & Homes Grimsby
Reasons to Invest in Pre-Construction in Grimsby
Best of Both Worlds
Since working from home is becoming more common, people don’t have to live close to cities. This makes beautiful places like Grimsby more appealing to stay in for longer amounts of time. Second, there is a growing trend in demographics toward people of all ages, from retirees to working professionals, opting to remain in waterfront communities for the peace and quiet and high quality of life.
A Stress-Free Commute
Someone who works in one of the big towns in the Niagara area would do well to buy detached homes in Grimsby and Grimsby condos. Getting to many towns and places is easy and won’t cause you any worry. Within 28 minutes, you can reach the US border and Niagara Falls; in less than an hour, you can reach Buffalo and Toronto by automobile. Also, because Grimsby is close to Buffalo, many people who live there prefer to travel from Buffalo Airport, where tickets are cheaper and flights are shorter. Plus, the upcoming Niagara Extension will offer even more accessibility to Grimsby residents.
Waterfront Real Estate in Demand
More and more, people want to find a place that offers the best of city life with quiet country living. Grimsby is one of those places. A new project called Casablanca Waterfront Park is currently under construction in Grimsby, a project that’ll improve the harbour area by adding green spots, services, and places to play. As it gets closer to finishing, Grimsby condos for sale will probably go up in value. With more people looking for vacation rentals, new builds in Grimsby can be a great way to make money by renting them out.
Grimsby Rental and Seller Market 2024
Rental Market
As of July 2024, most old and new homes in Grimsby rent for around $2,400 on average with a low vacancy rate.
Seller Market
In the past 30 days (June 14 – July 13), the average sold price for old and new homes in Grimsby reached a lovely $1,064,837, marking a delightful increase of $62,483 (5.9%) compared to the same period last year, which was $1,002,354. Moreover, the average home price in Grimsby over the last 30 days was $93,857 (8.8%) higher than the average selling price of $970,980 throughout the past year.
As for condos, the average sold price in Grimsby during the same 30-day period (June 14 – July 13) was a charming $675,000. This represents a substantial increase of $202,167 (30.0%) from the average condo price of $472,833 during the previous 30 days (May 15 – June 13). Additionally, it’s $145,718 (21.6%) higher than the average condo price during the same period a year ago, which was $529,282. To top it off, the average condo price in Grimsby over the last 30 days was $147,764 (21.9%) higher than the average selling price of $527,236 over the past year.
Average Renting and Selling Time in Grimsby
-New Condos
Renting Time for Condos: As of July 2024, rental condos in Grimsby typically stay on the market for two to four weeks.
Selling Time for Condos: Old and new Condos for sale in Grimsby on average stay 31 days on the market.
-New Homes
-Renting Time for Homes: As of July 2024, old and new homes in Grimsby stay on the market for 15 – 30 days before renting out.
-Selling Time for Homes: The average selling time for old and new homes in Grimsby in 2024 is approximately 38 days.
Neighbourhoods
Lakefront Neighbourhoods
Lakefront Neighbourhoods is a charming lakeside area known for its vibrant and historic homes, suitable for larger families and retirees.
1. Grimsby Beach
- Highlights: Colourful Victorian cottages, scenic waterfront views, community events.
- Perfect For: History buffs and those who love unique, character-filled homes.
2. Grimsby on the Lake
- Highlights: Modern condos, walkable waterfront, restaurants, and cafes.
- Perfect For: New pre-construction condos in Grimsby, here, in this area are perfect for young professionals and retirees looking for a vibrant lakeside lifestyle.
Central Neighbourhoods
At the heart of the town, you’ll find the charming Central Neighbourhoods, brimming with a lively commercial hub and a warm sense of community! These inviting areas offer a delightful mix of cozy residential properties, engaging retail shops, and welcoming community spaces.
1. Downtown Grimsby
- Highlights: Pedestrian-friendly environment, a mix of older homes and new Grimsby pre-construction condos, proximity to schools and urban amenities, including shops, cafes, and restaurants.
- Perfect For: Those who want to shop, dine, and experience the historic, charming, and vibrant atmosphere of Grimsby’s commercial core.
2. Nelles & Dorchester Estates
- Highlights: Mature trees, large lots, a mix of architectural styles, and a diverse range of housing options such as pre-construction homes in Grimsby.
- Perfect For: Families and those seeking a peaceful neighbourhood.
Upland Neighbourhoods
The Upland Neighbourhoods of Grimsby are known for their picturesque, serene ambiance that exudes a charming rural feel and boasts breathtaking views. These enchanting areas provide a peaceful and calming living experience for residents who cherish the beauty of nature and yearn for a more tranquil and soothing lifestyle.
1. Casablanca
- Highlights: Located near the Niagara Escarpment, providing easy access to nature and scenic vistas. A diverse neighbourhood with a mix of housing options. Considered one of the best areas in Grimsby, with a reputation for high-quality living.
- Perfect For: Outdoor enthusiasts and those seeking a country lifestyle close to the city
2. Grimsby Mountain
- Highlights: Atop the Niagara Escarpment, this neighbourhood boasts stunning panoramic views. Offers a sense of privacy and exclusivity, with a focus on enjoying the natural surroundings.
- Perfect For: Families and those seeking privacy, exclusivity, and easy access to outdoor recreation.
Pros of Living in Grimsby
- Scenic Beauty: Grimsby is nestled between the Niagara Escarpment and Lake Ontario, offering stunning natural landscapes, picturesque views, and ample outdoor recreational opportunities.
- Close-Knit Community: The town maintains a strong sense of community, with friendly residents, local events, and a welcoming atmosphere that makes it an ideal place for families and newcomers alike.
- Proximity to Major Cities: Located near the QEW, Grimsby provides easy access to Hamilton, St. Catharines, and Toronto, making it convenient for commuters and those who want the amenities of new Grimsby condos while living in a smaller town.
- Medical Centres: Grimsby is rated highly for its healthcare facilities. Besides offering services through prestigious centres like West Lincoln Memorial, it’s on the receiving end of sizable healthcare investments to offer 24/7, quality care for all residents.
- Growing Economy: With a mix of local businesses, retail options, and nearby industrial areas, Grimsby offers various employment opportunities and a stable economic environment. The town’s strategic location also supports future growth and investment.
Cons of Living in Grimsby
- Limited Public Transit: While Grimsby is well-connected by road, public transportation options are somewhat limited, which can be inconvenient for those who rely on transit for daily commuting or travel.
- Higher Real Estate Prices: Due to its desirable location and growing popularity, real estate prices in Grimsby can be higher compared to some other small towns in the region, which may pose a challenge for first-time homebuyers.
- Development Pressure: As Grimsby continues to grow, there is increasing pressure on local infrastructure and green spaces. Residents may face issues related to construction, traffic, and changes to the town’s character as condo and townhome developments in Grimsby are built.
FAQs About New Condos and Homes in Grimsby
The average price of new pre-construction condos in Grimsby was $675,000 in June 2024.
Besides breathtaking views of the Niagara Escarpment and Lake Ontario, you will enjoy modern kitchen designs with premium appliances, spacious living rooms, private parking, advanced security systems, and many other amenities while living in Grimsby.
Grimsby is shaping up to be a fantastic choice for condo buyers in 2024, thanks to its lively community, diverse housing options, and convenient transportation links. Not only does this charming town boast incredible investment potential, but its delightful waterfront location and excellent amenities make it an irresistible place to put down roots and call home.
As of June 2024, the average rental rate of $2,400 suggests that you can find a variety of rental options in Grimsby.
People in the town mostly use their cars to get around, but GO Transit’s Lakeshore West train will give them more choices for their commute to work. While the bus stops, the Grimsby GO Train Station and the NRT On Demand service connect you to every corner of Grimsby, the Niagara Specialized Transit takes you to other municipalities, year-round.
If you’re looking to experience life in a quaint little town, Grimsby Beach may be a better choice for you. Neighbourhoods like Grimsby Mountain are the pinnacle of life at Grimsby, offering a serene escape from urban city life. But, if you still want to maintain a balance and be effortlessly close to urban centres, neighbourhoods like Downtown Grimsby are suitable for you.
Grimsby boasts a range of quality educational institutions, from top-notch public schools like Nelles Public School and Lakeview Public School, all ranking in the top educational institutions of the GTA.
The average family income in this wealthy town is $92,038 per year. It evolved from a small country village to a vital commercial hub on the Niagara Peninsula, which is an amazing rise that has led to the creation of a network of community facilities.
The city of Grimsby has a strategy to boost density and make the town more vibrant, and in the coming years, there will be a plethora of new condos and other large-scale developments approved by the zoning commission. Plus, Grimsby’s in-house Strategic Action Plan, developed with the help of volunteers and staff, is being successfully implemented.
To stay informed about new condo developments in Grimsby, sign up for our newsletters and register for updates from our developer pages. Platinum Condo Deals also offers regular updates and exclusive access to new listings.
If the condo in Grimsby is priced below $500,000, you need to pay a down payment of 5%. If the home for sale in Grimsby is worth $500K to $1M, the down payment is calculated as 5% of the first $500,000 and 10% of the rest. You need to put at least 20% as a down payment for new homes in Grimsby that are priced over $1 million.
During the 30 days of June 14 – July 13 (2024), Grimsby’s average condo sold price was $675,000, marking a significant 30.0% increase from the previous 30 days’ average of $472,833 (May 15 – June 13).
Condos between $250K to $500K sell better and faster than this time last year, staying about 10 days less on the market. In addition, with the growing demand for real estate in this area, there are many planned new developments in Grimsby, ready for construction and occupancy.
The Sales to New Listings Ratio (SNLR) reflects the relationship between sales and new listings over a given period. In Grimsby, the SNLR for all property types stands at 101.2% at the moment, indicating a seller’s market. With demand outpacing supply, it’s an ideal time to sell condos.
Grimsby is a unique mix of old-town country vibe and thriving urban community, giving residents numerous amenities while keeping them in touch with the waterfront bliss. On top of that, the city is a sweet spot for government and corporate investments.
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