Thornhill: An Enticing Opportunity for Condo Buyers

Once recognized as a village, Thornhill has turned into a densely inhabited community in the Regional Municipality of York in Ontario. It’s split between the cities of Vaughan and Markham and located on the northern end of Toronto. Home to a highly diverse population, Thornhill’s current population stands at 139,440, and this number is projected to increase, thanks to its proximity to Yonge Street and the city of Toronto.

From the year 2000, Thornhill started witnessing the development of condos, and it has become one of the most favourite investment destinations in the York region. The growth in the average condo price vouches for the thriving real estate sector in the area. The average resale price of a condo in Thornhill rose by 23.31 percent in 2017, compared to 2016. On the other hand, the average index selling price increased from 16% to 19%. Even though the prices are rising, Thornhill remains one of the most affordable investment destinations in the York region. So, if you’re thinking to purchase a condo in Thornhill, this could just be the right time for you.

Around 10 kilometres away from Yonge Street, Thornhill is an excellent choice for the people who’re looking to keep their pocket in check but don’t want to get away from the hustle and bustle.

Why Thornhill is an Exciting Investment Destination

Let’s face it, Toronto is too expensive of an investment option for most of the people. In recent times, the York region has become an alternative investment destination for such people. And Thornhill represents a really exciting investment hub for all these people as prices of real estate properties in Thornhill are highly affordable when compared to others.

When it comes to numbers, Thornhill doesn’t disappoint. The median household income in Thornhill sits prettily at $79,438, and the home ownership percentage is at 85%. Economy-wise, Thornhill has a lot to offer – suggesting growth and development in the nearby future.

Average Condo Price in Thornhill

The average index selling price of Thornhill rose from 16% to 19% in the year 2017 alone. It touched the mark of $590 per square foot. Overall, the average selling price of pre-construction condo rose to $409,000.

As far as the average resale condo price in Thornhill is concerned, the buyers must be grinning from ear to ear. Thornhill witnessed a remarkable price upsurge in 2017. Compared to 2016, it increased by 23.31 percent in 2017.

Getting in and around Thornhill

When it comes to connectivity, Thornhill doesn’t disappoint. Whether it’s highways, trains or buses; the area is well-connected on all fronts.            Highways 400 and 427 provide an easy way for you to travel north and south. To move across the east-west corridor, you have Highways 7 and 427.

York Region Transit and VIVA rapid transit system will make your life much more comfortable as far as public transportation in the area is concerned. The VIVA fast transit system connects all new municipalities in the York region. Thornhill is also home to two GO stations: Yonge Street and Langstaff Road and Promenade Terminal.

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