Whitby
Nestled on the north shore of Lake Ontario, Whitby is a harmonious blend of historical richness and contemporary growth. With its roots dating back to the early 19th century, this vibrant community in Durham Region boasts a historic downtown, beautiful waterfront parks, and a thriving arts scene.
As one of Ontario’s fastest-growing municipalities, Whitby has become a highly desirable location for families, young professionals, and retirees. If you are looking for new condos in Whitby or pre-construction townhouses in this burgeoning market, then you have certainly come to the right place.
Whitby Pre-Construction Condo Market Trends 2024
Currently, the average price per square foot for new pre-construction condos in Whitby is $862. The average selling price of existing and new condos in Whitby is around $680,585 (June 2024). When looking at the average condo price over the last year (2023), the recent average is 5.6% higher. The average rental rate is currently $2,195. As of now (June 2024), the vacancy rate for condominiums offering different floor plans stands at 0.7%. In the past 30 days, from May 20 to June 18, the average sold price for old and new homes in Whitby was $1,088,923. Whitby condos take an average of 16 days to sell. Homes have an average selling time of 14 days.
Pre-Construction Condos & Homes in Whitby
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Reasons to Invest in New Condos in Whitby
Thriving Town with Big-City Access
Whitby offers a great alternative to Toronto’s high housing costs. Located just a short commute away via GO Train or highway, you can enjoy a more relaxed lifestyle while still having easy access to the city’s job market and amenities. The town is connected by major highways like the 401 and 412, making commuting effortless for residents. Additionally, new pre-construction condos in Whitby provide easy access to beautiful Lake Ontario, where residents can engage in a range of water activities and appreciate scenic views.
Stylish Design, Amenities Galore in New Whitby Condos
Many developers focus on sleek designs incorporating expansive windows, rooftop terraces, green roof initiatives, and energy-efficient features. These aspects contribute positively toward long-term value retention and enhanced quality of life for occupiers. Among the common amenities in condos for sale in Whitby include state-of-the-art fitness facilities, swimming pools, party rooms, co-working spaces, pet care stations, car charging stations, and secure parcel storage systems.
Whitby’s Booming Real Estate and Future Prospects
The real estate market in Whitby shows strong demand and investment potential. The town is experiencing significant population growth, which is expected to reach 193,000 by 2031, and the addition of 500 jobs through waterfront renovations and other new developments in Whitby. This surge in growth underscores the importance of pre-construction homes in Whitby to accommodate the increasing population.
Whitby Rental and Seller Market 2024
Rental Market
According to the most recent data, the average rental rate is around $2,195, marking a 6% increase compared to the previous year.
Seller Market
As of June 2024, the average selling price of both existing and new condos in Whitby is approximately $680,585. This recent average marks a 5.6% increase compared to the average condo price over the last year (2023). In the past 30 days, from May 20 to June 18, the average sold price for old and new homes in Whitby reached $1,088,923.
Average Renting and Selling Time in Whitby
-New Condos
Renting Time for Condos: As of June 2024, the rental market for condos in Whitby varies, with some units being rented out in just a few days while others take several weeks. The duration depends on various factors and the current market conditions.
Selling Time for Condos: As of June 2024, new Whitby condos for sale typically stay on the market for about 16 days.
-New Homes:
-Renting Time for Homes: In June 2024, renting time for detached homes in Whitby varies in duration, ranging from 15 days to several weeks. This timeframe is influenced by the market and the specific conditions and features of each property.
-Selling Time for Homes: The average selling time for detached homes in Whitby is around 14 days as of May 2024. The average selling time for townhouses for sale in Whitby is 13 days.
Neighbourhoods
South Whitby
Experience the laid-back charm of South Whitby, an invigorating blend of natural scenery and modern convenience. Delight in new townhome developments scattered generously throughout, catering to diverse tastes and preferences.
1. Port Whitby
- Highlights: Marina, waterfront trails, and easy GO Train access.
- Perfect For: New townhome developments in Whitby, in this area are perfect for Boaters, nature lovers, and those seeking a relaxed lakeside vibe.
2. Blue Grass Meadows
- Highlights: Known for its well-maintained properties, full of trees and sizeable yards.
- Perfect For: Those seeking space and a variety of housing styles.
3. Lynde Creek
- Highlights: Conservation areas, spacious homes, and recreational activities.
- Perfect For: Nature lovers and those desiring a peaceful residential setting.
North Whitby
Uncover the captivating essence of North Whitby, where tradition meets innovation amidst rolling hillsides and panoramic landscapes. With numerous pre-construction homes in Whitby, this region provides diverse housing options in picturesque settings.
1. Brooklin
- Highlights: Known for its charm and character, Brooklin boasts a quaint downtown area with boutique shops and restaurants.
- Perfect For: New Condos in Whitby in this area are perfect for those in favour of a small-town feel with modern amenities.
2. Coronation Gardens
- Highlights: A quiet, developing neighbourhood with proximity to green spaces like Heber Down Conservation Area.
- Perfect For: Those seeking a peaceful neighbourhood with easy access to nature and outdoor activities.
Central Whitby
Central Whitby is the heart of urban living with a historical twist, offering a dynamic atmosphere for those seeking an active lifestyle. The area boasts a variety of Whitby condos for sale, providing ample choice for urban dwellers.
1. Downtown Whitby
- Highlights: Historic architecture, local boutiques, and a variety of dining options.
- Perfect For: Townhouses for sale in Whitby, in this area, are perfect for those who enjoy an urban lifestyle with a touch of historic charm.
2. Rolling Acres
- Highlights: Well-known for its parks, excellent schools, and numerous walking trails.
- Perfect For: Families looking for a community with a mix of modern amenities and natural beauty.
3. Williamsburg
- Highlights: Features top-notch schools and a strong sense of community pride.
- Perfect For: Active families and individuals seeking a vibrant neighbourhood life.
Pros of Living in Whitby
- Affordable Housing: Whitby offers a variety of housing options at reasonable prices. Compared to Toronto, it provides a more cost-effective choice for homebuyers and renters, with larger living spaces in safe, well-maintained communities. New developments in Whitby offer great value for those seeking affordability without compromising on quality.
- Easy Commuting: Whitby’s positioning grants swift access to major thoroughfares, notably Highways 401 and 412, facilitating efficient commutes to work or play destinations beyond city boundaries. This ease of commuting makes new homes in Whitby highly desirable for professionals who work in the Greater Toronto Area.
- Ample Green Space and Recreation Opportunities: Another reason people choose new pre-construction projects in Whitby over neighbouring towns is their extensive green space and ample leisure possibilities. Whitby boasts more than 100 parks, including Iroquois Park, the Canada’s largest municipally-owned sports and recreation complex.
- Safe Environment: Whitby is one of the safest cities in Canada, with a crime rate almost 41% lower than the national average, making it a secure place for new condos in Whitby.
- Rich Cultural Scene: Whitby offers a vibrant cultural scene with numerous events and festivals throughout the year. Residents can enjoy art and culture at locations like the Whitby Public Library, Lynde House Museum, and Station Gallery. The town also hosts unique events such as the Gourmet Food Truck Frenzy, which showcases interesting eats and family entertainment.
Cons of Living in Whitby
- Traffic Congestion: With ongoing new developments in Whitby, traffic congestion can be a concern, particularly during peak hours on major roads like Brock Street and Dundas Street. However, the development of new homes in Whitby is accompanied by infrastructure improvements to mitigate this issue.
- Reduced Walkability: Not all parts of Whitby are great for walking around. A rating system for walking called Walk Score® gives Whitby a score of only 35 out of 100, which means most things need to be reached by car. Developers are addressing this in new builds in Whitby by creating more walkable communities.
- Limited Food Diversity: For those who love to explore diverse culinary scenes, Whitby may fall short. The town’s food options are not as varied as in larger cities, which might be a downside for food enthusiasts.
- Less Vibrant in Some Areas: While Whitby is known for its friendly community and laid-back lifestyle, some neighbourhoods may lack the vibrancy and multicultural atmosphere found in more urban settings. Yet, new pre-construction condos in Whitby are part of communities that are growing more vibrant and diverse each year.
FAQs About New Condos and Homes in Whitby
As of June 2024, the projected average selling price for condominiums, both new and pre-owned, in Whitby stands at approximately $680,585.
New builds in Whitby typically offer premium amenities such as cutting-edge fitness centres, yoga studios, swimming pools, games rooms, communal lounges, and rooftop terraces. Select buildings even incorporate smart building technologies, electric vehicle charging stations, bicycle parking, and car-sharing programs.
Whitby is undergoing significant waterfront renovations, creating a vibrant urban district. This, along with its natural beauty and proximity to Toronto, makes it an attractive place for investment.
Whitby’s rental market is currently experiencing high demand and low vacancy rates. This means finding a rental condo can be competitive, and rents have been steadily increasing. The average rent for condos in Whitby is around $2,195.
Whitby’s public transportation network includes conventional and specialized transit services operated by Durham Region Transit (DRT), complemented by regional GO Transit trains and buses.
Some of Whitby’s top neighbourhoods include:
- Port Whitby: Known for its lakeside location and strong sense of community.
- Brooklin: A charming area with a mix of cozy and luxurious homes.
- Williamsburg: Popular with commuters due to its proximity to major highways.
Whitby’s education system excels, providing various quality schools across multiple boards and teaching philosophies to meet diverse student requirements. Some top-rated schools are Glen Dhu Public School, St. Matthew the Evangelist Catholic School, All Saints Catholic Secondary School, Anderson Collegiate and Vocational Institute, and Sinclair Secondary School.
For 2024, the Town of Whitby is proposing a budget increase. Initially, town staff suggested a 6.5% rise, resulting in a 2.3% residential tax bill increase for municipal services. However, the Town Council has instructed staff to revise the 2024 budget with a 5% increase instead.
Future development plans for Whitby include significant residential and commercial projects, particularly along the waterfront and in new neighbourhoods like Taunton North. These developments aim to enhance the town’s appeal, offering more housing options and boosting economic activity. Infrastructure improvements, including better transit links and community facilities, are also part of the town’s growth strategy.
You can contact us at Platinum Condo Deals to keep you informed about the latest developments.
Between May 21 and June 19, 2024, the average sold price for real estate in Whitby was $1,015,852. This figure represents an increase of $16,397 (1.6%) compared to the average price of $999,455 over the past year.
The down payment for a condo in Whitby typically follows the general rule: the minimum down payment for a condo purchase depends on the property price. For condos priced under $500,000, a 5% down payment is required. For condos between $500,000 and $999,999, you’ll need a 5% down payment on the first $500,000 and 10% for the remaining balance.
Given the excellent condition of the city and steady demand, there are plenty of properties available in the area. You can contact us for information on new condos for sale in Whitby.
With an SNLR of 50%, Whitby is in a balanced market, suggesting that condos are selling at a steady pace, but not overwhelmingly fast.
Condo prices in Whitby are influenced by several factors, namely increased demand due to population growth, lower interest rates, limited supply, and greater emphasis on remote working arrangements allowing people to move farther from downtown Toronto.
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