Pre Construction Homes Port Perry

Preconstruction Homes In Port Perry

Found in the township of Scugog, Ontario, Port Perry is a tightly knit community with a small population of just 9,453 residents per the 2016 national census data. The town is located approximately 84 kilometres to the northeast of Toronto and just 24 kilometres north of Oshawa and Whitby.

Being the administrative and commercial seat for the township of Scugog, Port Perry has developed in bounds to meet the demand for its facilities. Part of these developments includes social amenities like the Lakeridge Health hospital, administrative offices, and retail establishments, providing essential access to utility services needed by its population.

Together, these have made Port Perry the hub for many small communities in the Scugog area. Such standing has contributed to the higher demand for housing in the area compared to Greenbank, Raglan, Caesarea, and Blackstock among others. Thus, there are more houses for sale in Port Perry compared to its neighbouring townships, while more businesses have sprung up to support the community.

With a Victorian-era design, downtown Port Perry has long been established as a tourist destination. This is complemented by the numerous attractions across Port Perry that have made the centre a gem in Ontario’s tourism industry, with its shopping, restaurants, outdoor activities, and even historic sites capable of giving tourists memorable experiences with ease. For instance, the town boasts the oldest grain elevator in Canada, supports ice-fishing on Lake Scugog, and its multi-season games are a unique attraction for many.

Why Live in Port Perry?

If touring Port Perry sounds fun, living here is even better. The town’s close proximity to Toronto means you can enjoy country-like living and still work in a big city, with the town just one hour from Toronto with easy travel by car. This allows residents to buy dream homes without crashing their financial security, as the real estate prices in Port Perry are considerably lower than those in Toronto. Further, Port Perry has a deceptively enhanced transport system thanks to the GO Bus service, available from the Whitby GO station. The Toronto Pearson International (YYZ) is also handy for those travelling to Port Perry from further afield or from outside Canada, with its standing as the primary airport for the Greater Toronto Area a guarantee of efficiency.

Port Perry also lies on the southern tip of Lake Scugog. Alongside the amenities and social facilities in the town, Port Perry promises the dream family life for both new and grown households, as recreation, shopping, education, and other crucial family needs are easy to meet. One such essential is housing, with the many preconstruction homes in Port Perry contributing to a more affordable and quality housing market.

For family or individual recreation in Port Perry, the community offers gorgeous lakeside parks, breath-taking boutiques, and various internationally-acclaimed restaurants for the residents to enjoy. Lake Scugog also allows access to numerous sports and games, whether in the summer or winter, making the town an ideal location for building a close-knit family life. These are complemented by the people, whose friendly nature elicits the aura of a small-town life suitable for both children and the working-class Canadians.

Benefits of Moving to Port Perry

The Port Perry community does not suit locals and tourists only. In fact, the town is arguably among the best locations in Ontario for people looking to establish a second home. Port Perry’s housing market is also attractive for new immigrants, while any Canadian would love to call the community of Port Perry home.

But why should you consider moving to Port Perry for good?

a) Favourable Housing Market

If you wish to buy your own home but cannot afford it in your current city, move to Port Perry. Despite its small size, Port Perry serves as the hub for numerous other smaller communities in the Scugog township. And it’s for these residents that the housing market caters to, with a variety of condos for sale in Port Perry and other new-build homes available for buyers to choose from.

Thus, we recommend that you check out the many new construction homes in Port Perry, most of which are often ready for close at the buyer’s convenience. As mentioned, buying a home in Port Pery is more affordable than the Toronto housing market prices, but we guarantee you’ll be taken aback by the quality of the homes just as much.

b) Decent Local Economy

If you need to manage your finances better, earn more, save more, and such, then Port Perry should definitely become your new home. At $101,293, Port Perry town enjoys a higher median household income than the average in the Greater Toronto Area. Moving to Port Perry also makes you part of a community boasting up to 54.7% of its population as an active labour force and just a 3.6% unemployment rate. As a result, the crime rate in Port Perry has declined significantly, making the town very secure for families to live in.

Key to these high economic metrics is the booming business environment in the town. Because Port Perry attracts thousands of tourists a year, lots of residents are involved in year-round businesses that perform very well.

These include key downtown Port Perry businesses such as clothing stores, restaurants, cafés, bookstores, galleries, and antique shops among others. Summertime festivals, highland games, and StreetFest among others complement tourism to provide multiple business high tides during the calendar year. And if you cannot or do not wish to launch or run your business in Port Perry, then check out the next section for employment opportunities in the town.

Job Opportunities in Port Perry

While Port Perry, especially its town centre, is a great location for business, you don’t have to run one if you’d rather be employed. And there are some interesting job opportunities in Port Perry for you to consider. The town also offers varied types of employment, ranging from casual, part-time, and even full-time professional career jobs.

For instance, the town has varied employer profiles ranging from local businesses to those with nationwide or even global name recognition. Whichever employer you work for, chances are that you’ll earn a proper annual wage to make your life in Port Perry very comfortable.

Among the major employers in the town, the Nestleton Station and Great Blue Heron Charitable Casinos are clear leaders in employing a lot of Port Perry residents. Other noticeable employers in Port Perry include Canada Post, CIBC, Lakeridge Health, Walmart, and McDonald’s among others. Residents can also work for various national and provincial government agencies present in Port Perry, including LCBO.

The Housing Situation In Port Perry

The real estate market in Port Perry is as diversified as the Canadian national housing market. For one, the local housing market has different types of homes available for potential buyers to consider. Furthermore, buyers must also decide on the housing market to buy their dream home from, with as there are houses for sale in Port Perry on the resale, new construction, and preconstruction property markets.

This variability in the housing market and property types has been good for the entire township, including Port Perry. For instance, the median listing price on Port Perry’s housing market ranks among the top 20% most competitive local housing markets across Canada. Besides the higher prices, Port Perry also ranks high for affluent, spacious homes around the country, with the township’s tourism sector impacting heavily on developing homes suitable for culturally-diverse people.

A REALTOR.ca survey attributed the high median house price in Port Perry to the dominant type of housing in the surrounding community. Despite having condos for sale in Port Perry, the market is more favorable for larger and more spacious homes, which has led to more sales of town homes, detached homes, and semi-detached homes. These property types guarantee the expansive luxury country living that the Port Perry township emphasizes.

However, Port Perry’s residential housing market suffers from limited inventory. This is best illustrated on the number of homes listed for sale in the entire community, which ranks below 1145 other neighbourhoods in Ontario alone. This limited supply of housing inventory also contributes to the higher median listing price in Port Perry, the fifth lowest ranked neighbourhood in Ontario based on the number of properties to choose from. Significantly, more than 94% of new construction homes in Port Perry listed over the past year sold above the asking price, indicating intense competition for the available home units.

This hot real estate market in Port Perry has also seen a very short turnover of housing units.  Data from 2022 home sales show that resale, ready-build, and new construction homes in Port Perry only stay an average7 days on market before the sale closes. The majority of residential properties sold have at least 3 bedrooms. To support this hot market, Port Perry has a vibrant mortgage lending business ecosystem, with key players such as Dominion Lending Centres and Sutton Group financing hundreds of new home purchases every year.

This is in contrast with the demographic data for Port Perry residents. The average family in Port Perry neighbourhoods has at least 1 child, while about 39% of the households have single residents. However, 20% of the residents in Port Perry are renters, but the multi-lingual population has made it easy for new families to move to and settle in Port Perry.

Residential Properties In Port Perry

The allure and richness of life in Port Perry means that the township has been recording growing population over the last decade. In fact, there was a 9.1% increase in population between the national census of 2016 and the one done in 2021. The availability of decent houses for sale in Port Perry has made this possible.

The downside, unfortunately, is that the demand for homes has increased dramatically, making real estate prices in Port Perry some of the least affordable in Ontario. There still is value to be found on the local housing market if you look in the right direction, however, as the town’s resale, new construction, and preconstruction markets have marginally different home prices.

You can also go for a more fitting home, with the Port Perry housing market listing condos, townhouses, detached houses, and semi-detached houses among others. And per housing market trends everywhere, condos cost much less than townhouses or detached homes if all other factors remain constant.

While we have predominantly discussed the houses for sale in Port Perry, the market also has plenty of homes for rent, although the buy-to-rent ratio for houses in Port Perry in significantly lower than the average for the Greater Toronto Area. Or the Ontario provincial average. Still, the market still offers housing units for renters, which is ideal for people looking to move to Port Perry temporarily.

Preconstruction homes in Port Perry

The market for preconstruction homes in Port Perry is not very big based on the number of units available. Part of that is because majority of preconstruction developments in Port Perry focus on bigger units, including townhomes and single-family detached and semi-detached homes. By market value, however, preconstruction is the second-leading housing market in Port Perry behind new construction homes.

Ready-build homes in Port Perry

The leading housing market in by both number of units and market value, the ready-build market supplies most of the houses for sale in Port Perry. The new construction market contributes about 1,000 units for sale every year, excluding those properties designated for the renter’s market.

Unlike the preconstruction market, new construction homes are tougher for buyers to close, especially as about 94% of the homes close above the asking price. The properties are also more expensive for the buyer given any maintenance and repair costs for potential defects are passed on to the buyer. More significantly, the new-build market is very brutal for buyers, even those with the requisite funds, as housing units stay just 7 days on the market in Port Perry.

Types of Houses in Port Perry

Together, both the new construction and preconstruction market supply the many housing units available for potential home buyers in Port Perry. These properties later end up on the resale market, either directly or after renovations. The most common types of homes in Port Perry and the township of Scugog include condos, townhomes, detached homes, and semi-detached homes.

Townhomes in Port Perry

There are many preconstruction townhomes in Port Perry. These properties vary in size, location, and facilities, but also tend to be classy and spacious. Most of Port Perry townhouses have a beautiful view and sizable yards.

Detached homes in Port Perry

Most of the detached homes available for sale in Port Perry are single-family properties. They come with an extensive array of beautiful features and family-friendly facilities. These homes are also located within close proximity to excellent schools.

Condos in Port Perry

The Port Perry housing market has very pristine condos to choose from, often located in bustling neighborhoods. These properties have a huge variation in price depending on location and facilities and come with several convenience and security features to make you feel at home right away.

Semi-detached homes in Port Perry

If you’re looking for a withdrawn home in Port Perry, then a semi-detached home is for you. The properties often sit on expansive lands, boast huge yards, and have numerous bedrooms and baths to boot. While they don’t come cheap, semi-detached homes in Port Perry guarantee safety and privacy without isolating you from your nearest neighbors.

Real Estate Prices In Port Perry

We already observed that the housing market in Port Perry has one of the highest prices in Ontario. And while the market has limited inventory units, it averaged about 76 new listings every 56 days for the last year. Comparatively, the average price of houses for sale in Port Perry has been fluctuating considerably. The last two years have averaged a 4.9% monthly change in housing prices, for example, while there is a 20.2% decline in prices between the first two quarters of 2022.

With a 111% selling to listing price ratio across the local property market, prices for a standard three-bedroom house in Port Perry is now lower than it was a year ago. However, the start of the year experienced higher home prices across the resale and new construction markets, but preconstruction market has experienced the least price volatility. For instance, the price for three-bedroom preconstruction townhomes in Port Perry has been steadily rising at about 5% a year throughout the last two years.

Data on the current housing market trends in Port Perry also reveal that the biggest homes have the shortest turnover compared to condos, which ranked as the slowest of Port Perry’s real estate inventory items. The average price for these homes has increased 21.2% year on year compared to May 2021 data, while 18 homes were sold in May 2022 compared to an average of 19.8 homes per month in 2021. This works out as an average decline in housing property sales of 10% over last year.

Overall, Port Perry’s housing market is aligned to the Greater Toronto Area’s residential property market performance. There are more houses sold than condos, with average prices fluctuating as more units are sold per year. At just 0.6 months of available housing inventory, for example, the number of preconstruction homes in Port Perry, has dropped to a 5-year low without producing a stratospheric hike in listing prices.

Price Trends For The Last 5 Years In Port Perry

Nevertheless, the median price for all types homes in Port Perry, across all the local property markets, has been steadily increasing over the last 5 years. We anticipate this trend to continue for a while longer. The continuing post-Covid-19 market stabilization has enabled housing prices in Port Perry to fall as more units come to market. However, the prices are still higher than the pre-Covid-19 at about 12% more than average housing prices at the end of 2019.

The preconstruction market has immensely cushioned buyers during this period, however. Since mid-2020, there have been more than 5000 housing units scheduled to complete in the next 2 years, meaning the number of preconstruction homes in Port Perry available for purchase in gradually catching up to the demand.

The table below shares how the average price of a standard three-bedroom housing unit in Port Perry has changed during the recent five-year period to May 2022.

Average Sale Price Per Year (CAD)         

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Type of House	2022	2021	2020	2019	2018
Detached house	$1.2M	$1.5M	$947K	$993K	$920K
Townhouse	$972K	$1.0M	$895K	$859K	$842K
Condo	$951K	$875K	$820K	$800K	$739K
Semi-detached	$1.2M	$1.6M	$1.0M	$942K	$908K

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Why You Should Invest In Preconstruction In Port Perry

Port Perry is an excellent to live in. With the township’s housing market booming, it makes sense that potential homebuyers would consider making Port Perry their new home. The market for preconstruction homes is a little different, however, and just a good market for homebuyers does not entirely make it attractive for wannabe preconstruction home buyers.

But like new construction houses, preconstruction homes can come with defects. On average, for example, a newly-built house in Ontario has about 157 defects. While these defects could easily seep into a preconstruction development, the chances are very minimal thanks to the involvement of the would-be owners from very early. This is a key reason to invest in the preconstruction detached homes in Port Perry and ensure your home gets built in line with your preferences.

And, if you notice any defects to your would-be home, the preconstruction housing market has the advantage of rectifying these defects early and at no additional cost to the home buyer. This, along with the guarantee of owning a home at the asking price, makes investing in a preconstruction home a shrewd idea.

Of course, most preconstruction townhomes in Port Perry will draw lots of competing potential buyers as the market suffers from diminished inventories. But unlike the new-build and resale markets, paying the contractual asking price guarantees you a specific unit in the development.

The real advantage, however, is in the ease of buying a home in an intimate community that’s close to essential amenities and facilities. Port Perry, and the entirety of Scugog Township, allows for a peaceful country living without sacrificing the advantages of a big-city life. It’s location close to Toronto ensures the latter, but the experience of living near Lake Scugog, the town’s increasing popularity as a tourist destination, and a rich historical heritage makes buying preconstruction homes in Port Perry attractive for a lot of people regardless the size of their families.

Major Preconstruction Projects In Port Perry

As more preconstruction homes in Port Perry are made available for potential buyers to acquire, you want to commit to the best home around. This is not easy, especially as the local preconstruction makes is clicking into gear. In this section, we will help you know about the major preconstruction housing projects currently available across the community and villages within Port Perry. These homes include townhouses, condos, and detached houses with each property having at least three bedrooms.

1. Ashgrove Meadows – Phase 3

Ashgrove Meadows – Phase 3 is a new preconstruction single family home development located at Josephine Street & Union Avenue, Port Perry currently still at the registration stage. Developed by Picture Homes, potential buyers have the opportunity to join in with buyers of Phases 1 and 2 for home units with varied sizes between 1085 and 3328 square feet per unit. You can also choose from bungalow and two-storey plans, with each unit having 2-4 bedrooms.

Facilities and Amenities

Notable features of the Ashgrove Meadows – Phase 3 include;

• Wide range of home styles
• Choice of bungalow and two-storey plans
• Oversize windows and country kitchens
• Spectacular master suites
• Double-sided fireplaces

Ashgrove Meadows – Phase 3 Details

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Community Name:	Ashgrove Meadows
Building Type:	Single Family Home
Ownership:	Fee simple
Selling Status:	Registration
Sales Start:	To Be Determined
Construction Status:	Preconstruction
Construction Start Date:	To Be Determined
Estimated Completion:	To Be Determined
Builder(s):	Picture Homes
Ceilings:	Up to 9’0″
Unit size:	1085 – 3328 SqFt
Bedrooms	2-4

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2. Lalu by the Lake

Lalu by the Lake is a new single family home development by Unexus. This new home project is currently at the preconstruction stage and located at 16941 Simcoe Street in Port Perry, Scugog. Once completed, the Lalu by the Lake housing project will have a total of 20 units of single-family homes.

Facilities and Amenities

Neither the developer, Unexus, nor any other party affiliated with the Lalu by the Lake single-family housing project have shared public information about the features, facilities, or amenities to be contained in each of the 20 home units in the project.

Lalu by the Lake Details

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Building Type:	Single Family Home
Ownership:	Fee simple
Selling Status:	Pending
Sales Start:	To Be Determined
Construction Status:	Preconstruction
Construction Start Date:	To Be Determined
Estimated Completion:	To Be Determined
Builder(s):	Unexus
Units:	20

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3. Balsam Garden

Located at Old Simcoe Road & Balsam Street in Port Perry, ON, Balsam Garden is a new single family home development by Oxnard Developments. The residential property, currently at the construction stage, will have between 2 and 4 bedrooms each, but the number of housing units in the new development were not revealed.

Facilities and Amenities

Neither Oxnard Developments, the developer, nor any other party associated with the development of the Balsam Garden single family project have released information pertaining the features, facilities, or amenities to be included in the project’s various home units.

Balsam Garden Details

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Building Type:	Single Family Home
Ownership:	Fee simple
Builder(s):	Oxnard Developments
Selling Status:	Registration
Sales Start:	To Be Determined
Construction Status:	Construction
Bedrooms	2.5 – 4.5

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4. Embee Estates

Embee Estates is a new single-family home development located at 13677 Old Simcoe Road in Port Perry, Ontario. The project, developed by Embee Residential, is currently at the preconstruction stage with construction starting in 2022. The development will have a total of 11 home units with each having about 3 – 4 bedrooms.

Facilities and Amenities

The main features and facilities of the housing units in the Embee Estates development include;

• Located in serene Port Perry
• Crown moulding on the main floor
• Custom MDF-painted kitchen and washroom cabinetry
• Quartz countertop and undermount sink in the kitchen
• Three car garages with finished interiors
• Full stone/brick/stucco exteriors
• Air conditioner

Embee Estates Details

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Building Type:	Single Family Home
Ownership:	Fee simple
Selling Status:	Registration
Sales Start:	To Be Determined
Construction Status:	Preconstruction
Construction Start Date:	2022
Estimated Completion:	To Be Determined
Builder(s):	Embee Residential
Ceilings:	From 9’0″ to 10’0″
Units	11
Bedrooms	3 – 4

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5. Holden Woods

Holden Woods is a new single family home development by CedarOak Homes. The new housing property development is currently in the preconstruction stage at 234 Union Avenue in Port Perry, Ontario, and has an undisclosed number of housing units.

Facilities and Amenities

Information about the facilities, features, and amenities available at the Holden Woods development have not been shared by CedarOak Homes or any other party affiliated with the development.

Holden Woods Details

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Building Type:	Single Family Home
Ownership:	Fee simple
Selling Status:	Registration
Sales Start:	To Be Determined
Construction Status:	Preconstruction
Construction Start Date:	To Be Determined
Estimated Completion:	To Be Determined
Builder(s):	CedarOak Homes

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6. King’s Landing

King’s Landing is a new condo development project at Oyler Drive & Simcoe Street in Port Perry, Ontario. The project, developed jointly by Stockworth Developments and Valour Group, is currently at the preconstruction stage and will have a total of 250 units. Each condo unit will have 2-3 bedrooms.

Facilities and Amenities

The key features, facilities, and amenities in the King’s Landing condo units include

• Snowmobile and walking trails
• Sports courts for Tennis, Bocce ball, Pickle Ball, and a Golf Course
• Craft Room and Art Gallery
• Swimming Pool
• Fitness Centre
• Gazebo
• Dog Grooming Station
• Yoga Studio
• Skating Rink
• Shuffleboard Courts
• Entertainment Space
• Hot Tub

King’s Landing Details

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Building Type:	Condo
Ownership:	Condominium
Selling Status:	Registration
Sales Start:	To Be Determined
Construction Status:	Preconstruction
Construction Start Date:	To Be Determined
Estimated Completion:	To Be Determined
Builder(s):	Stockworth Developments and Valour Group
Units	250
Bedrooms	2 – 3

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7. West Scugog Village

West Scugog Village is a luxurious townhouse development located on Shand Lane in Port Perry, Ontario. The project is developed by Jeffery Homes and has 37 units with each ranging from 1600 – 2100 square feet in size.

Facilities and Amenities

• Airy 9’ high ceilings on main floor
• Luxurious quartz kitchen countertops
• Elegant hardwood flooring on main floor
• Stained oak staircase with wrought iron spindles
• Decadent master ensuites
• Fully sodded front, and back yards.
• Direct indoor garage entry
• Soft-close cabinetry kitchen and bathroom doors
• 2 USB charging outlets on the main floor
• One and two car garage models

West Scugog Village Details

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Building Type:	Townhome
Unit Sizes:	1600 – 2100 sq. ft.
Selling Status:	Selling
Sales Agent:	Jazz Inc. Brokerage
Construction Status:	Construction
Estimated Completion:	2023
Builder(s):	Jeffery Homes
Units	37

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Conclusion

As the administrative and commercial capital for the township of Scugog, Port Perry is uniquely positioned to host a booming housing market. The local tourism industry, Lake Scugog, and its architectural heritage are also huge boosters of the property market. And as demand for homes continues to rise, the market for preconstruction homes in Port Perry is growing alongside other economic sectors.

This is reinforced by an involved community in the area. Port Perry’s attractiveness as a place to build a decent family life has also attracted more residents, growing the town’s population to provide reliable demand for the residential property market. Residents can secure employment with leading companies or start their own businesses, a combination most like much.

Such favorable conditions have made Port Perry into a highly-coveted residential area, as its average housing price can attest. Its proximity to the Greater Toronto Area, well-developed social amenities, and other essential features makes living in Port Perry the right decision. And the bustling market for preconstruction homes in Port Perry continues to supply the residential properties needed to support this growth.