Winter is coming and the market is shifting. Across the region we saw 123 sales logged which was down 32% on this time last year. This comes as for the first time in a while, we saw a 7% rise in Active Listings. However, inventory is still incredibly low – down more than 60% than pre pandemic continuing 2021 theme of low inventory. With less options on the market, we continue to see house prices rise as the new average house price sits at $768,624 – up around 20%. As we move towards winter, buyers will become even more motivated so expect to see prices continue to rise.
Across our communities, we saw these trends continue. Midland’s average price rose 23% compared to last year whilst Tiny’s average price edged towards the $1m mark at $935k. With low competition, it’s still a great time to take advantage of the market and achieve maximum price for your property.
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 November 12, 2021, data gathered by the Ontario Collective based on October 2020 vs October 2021.