Unionville

Unionville has been regarded as a heritage village in the city of Markham, which is known for a high population of science workers, baby boomers and university grads. The neighborhood features a diverse community consisting of Chinese, Greek and Japanese population. Although there are no official boundaries for Unionville, it is roughly bordered by 16th Avenue to the north, Highway 407 to the south, McCowan Road to the east and Highway 404 to the west. Unionville is one of the poshest neighborhoods in Ontario and has a remarkable community that can flourish well into the future. This neighborhood used to be once surrounded by farmlands, but is now filled with suburban housing. The population of Unionville currently stands at 50,000 residents and is continuously growing with several new townhomes and condos that are being developed here. Unionville’s economy largely depends on tourism. The historic village along with the downtown section is ideally a small town that developed over a century ago. Thousands of visitors come every year to visit the historic Main Street that features distinct shops, bars, cafes, restaurants, pubc, parks, galleries and boutique stores. There are several shops here which have a historical significance that attracts tourists. These shops are topped off with friendly faces that warm up the soul. There are also family-run businesses that take up a special place in the hearts of the people who visit here. In short, it offers country goodness along with a splash of contemporary vitality that makes it a perfect blend for each visitor. The neighborhood is very walkable and does not require the need to use vehicles for getting a hold of daily amenities and running errands.

List of New Condos in Unionville Neighbourhood

Why Invest in Unionville Real Estate?

The real estate market in Unionville has been booming since housing development started in the neighborhood back in the 60s, which is still continuing northward from town centre. The abundance of schools, green spaces and recreational facilities make the place desirable for individuals as well as families, thereby driving up the home sales. Unionville is ideal for those who want to enjoy both the city life with a blend of suburban lifestyles. The city of Markham continues to grow exponentially with most of the new developments here being single family detached houses, which range from two-story starter houses to million dollar luxurious ones. Townhouses and condos are starting to pop up in number as part of the ‘Markham Centre’ Redevelopment plan which gives Unionville houses on the market a touch of urban feel. Markham is one of the fastest growing municipalities in Ontario while being ethnically diverse. The current population of the city is about 340,000 and it is growing exponentially. The city has witnessed a 15.3 percent rise in its population since 2006, which is approximately thrice as fast as that of the Canadian average. Unionville is abundant in terms of amenities, be it shopping, groceries, restaurants, cafes or even bars, you will find everything within comfortable walking distance from your home. The area also has several parks and green spaces that promote a healthy lifestyle. One of the best features about this neighborhood is that it has a little bit of everything for all types of residents. When it comes to the young demographic, most are working professionals who love to work and play. The abundance of transit options and the prime location of the neighborhood ensures a smooth commuting experience. Unionville is an upcoming neighborhood and being in its developing stage, the prices of real estate here are comparatively lesser compared to its other counterparts in the Greater Toronto Area such as Mississauga and Toronto. It has already been estimated that the population of the area will increase exponentially once everything is in place. This will ultimately increase the demand of houses and condo units. Investing now is the best option available as the prices are still affordable and reasonable. As per survey, the prices of real estate had surged 17 percent over a year which indicates that the value of your property will keep increasing over time. Renting out the place is also a very lucrative option as you will be ensured of a monthly income through rent.

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Accessibility

Convenient access to public transportation and highways is one of the best features of Unionville. The neighborhood has several arterial roadways which allow motorists to commute conveniently throughout the city of Markham. Highway 404, Highway 7 and Highway 407 are easily accessible from this neighborhood, allowing motorists to travel to any part of the Greater Toronto Area with ease via the Don Valley Parkway. The neighborhood is also served well by public transportation thanks to the Toronto Transit Commission, Yonge Region Transit and Viva. The Unionville GO Station is a major transit hub and provides residents with train and bus services. Residents can also get easy access to the Finch Station through TTC, YRT and Viva which allows them to travel conveniently throughout the city and beyond.

Average Prices of Condos in Unionville

Homeownership is high in the neighborhood and constitutes 87 percent of the population, while the remaining 13 percent are renters. The average household income in this neighborhood is around $136,130. Condos are the most common type of houses here and account for 52 percent of the total home sales in the area. Detached houses are also prevalent here and account for 33 percent of the total sales, while condo townhouses are rare and account for only 9 percent. Condo apartments are a popular trend here and the majority of the properties consist of one bedroom. The average cost in Unionville over the past year stood at $953,518, which was an increase of 17 percent over the previous year. The average condo price over the past year was $449,113 against the average freehold cost, which was $1,776,924 over the same term.

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