A look back at July 2020 compared to July 2019 and why it’s a great time to list your Property for Sale.
As those summer nights are slowly drawing shorter, we all start to look forward and plan the rest of the year. There’s lots going on, things are returning to normal more and more everyday, the kids will be going back to school before we know it.
Despite everything going on, the housing market has continued to rebound during Covid 19 and we’ve actually seen, on average a 28.9% raise in the amount of home sales in Midland, Penetanguishene, Tiny Township and Tay Township. Looking back at July 2019, there were significant raises across our area in the number of homes being sold in July 2020, Penetanguishene alone saw a 50% raise.
It’s not just the amount of homes that has risen, house prices are also going up. The sale price of Homes in July 2020 has increased, on average 25% between Midland, Penetanguishene, Tiny and Tay. Homes in Midland have risen to on average $493,539 as a final sale price.
Whilst the number of homes and the sale price have both risen, there has been a dramatic decrease for inventory in our Community at -39.6%. Bearing in mind that despite there being fewer homes available, there has been an increase in Sale Price and Homes Sold – this means that it’s a GREAT time to list your property for sale.
Lower inventory and motivated buyers drives the prices of property up and right now, we have both in our community. Now is the perfect time to list your property for sale with For Sale On Georgian Bay.
Trust your local experts to guide you through the process and take advantage of the current market. Ask us about our FREE Home Market Analysis to determine exactly how much your Home is worth in today’s Market.
All data correct as of August 2, 2020, data gathered by the Ontario Collective based on July 2019 vs July 2020.