Pickering is located just one exit east of Toronto on highway 401. Long considered a commuter town to the people of Toronto, Pickering is quickly becoming a hot destination Toronto Home Buyers looking for more house for less money and only a short commute into the city.
Fast Facts About Pickering
2019 - 100,000
By mid-2030's - 190,000 expected
Immediately east of the City of Toronto, accessed by both Highway 401 and Highway 407 ETR, on the north shore of Lake Ontario.
Land Area
Total Area - 23,159 hectares (55,974 acres)
Business Sectors
Advanced Manufacturing, Agri-Food, Information Communication Technologies (ICT), and Energy, Environment and Engineering (EN3).
Labour Force
3.8 million people reside within 50 km (30 miles) of Pickering. 46% of Pickering residents aged 24-64 years have post-secondary degree or diploma
Public Sector
MPAC (Municipal Property Assessment Corporation) - 538
Ontario Power Generation – 3,560
OLG- Pickering Casino Resort- 2,000
Private Sector
Aspect Retail Logistics - 670
Noranco Manufacturing Ltd. - 185
Rogers Communication – 750
Signature Aluminum Canada Inc. - 225
Trench Ltd. – 300
Yorkville Sound – 240
Public - 19 schools
Separate - 8 schools
Post-Secondary
Durham College, Centennial College,
Ontario Tech University,
University of Toronto, Ryerson & York
Pickering Real Estate Market Report
The Pickering real estate market saw average home prices tick up 3.5% from November to December 2022. Despite this monthly increase, Pickering home prices are down 4% prices year-over-year and the number of homes sold was down 45% compared to the same period last year.
The market conditions in Pickering today reflect a trend seen in many real estate markets across the country. Despite a slowdown in sales, prices have remained relatively stable due mostly to new listings trending downward with each successive rate hike.
If you are looking to buy or sell property in Pickering, now may be the ideal time to take up the search. It seems the interest rate hikes are behind us and home prices have come down substantially since last year. The immigration policy continues to be to bring in more people than we have homes so all signs point to substantial surging home prices if inventory continues it's downward trend.
It's anecdotal right now, but I'm seeing multiple offers on some of the properties I'm showing and if this continues FOMO will set in sooner rather than later.
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