No Comments

March Market Report For Barrie

One year on since Lockdowns and Restrictions started, the market continues to be red hot in Barrie. Year over year, we saw a large spikes in home prices across our region. Compared to last March, we saw a huge 32% increase in sale prices across Barrie. Partly due to the strong market we’re experiencing right now and partly due to downturn in the market last March as the effects of Covid took hold. As we bounced in and out of restrictions and lockdowns across the region, we saw the trend of low inventory continue. With low competition, now is the 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 April 9, 2021, data gathered by the Ontario Collective based on March 2020 vs March 2021.

No Comments

March Market Report In Our Communities

One year on since Lockdowns and Restrictions started, the market continues to be red hot in our communities in 2021. Year over year, we saw large spikes in home prices across our region. Compared to last February, we saw a huge 51% increase in sale prices across our communities. In Tiny Township alone, we saw an 88% increase in sales prices

As we bounced in and out of restrictions and lockdowns across Midland, Penetanguishene, Tiny and Tay, we saw the trend of low inventory continue. Active listings are down over 66% compared to 2020. With low competition, now is the 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 April 5, 2021, data gathered by the Ontario Collective based on March 2020 vs March 2021.

No Comments

February Market Stats For Barrie

February continued in the same vein as January in Barrie. To begin the year we saw a large 36% increase in sale prices across Barrie when compared to 2020 and February repeated the trick by showing another 36% increase in Sales Prices. As restrictions and lockdowns continued across Simcoe, we saw the trend of low inventory continue.

Active listings are down over 50% compared to 2020. With low competition, now is the 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 March 12, 2021, data gathered by the Ontario Collective based on February 2020 vs February 2021.

No Comments

February Market Report In Our Communities

The market continues to be red hot in our communities in 2021. Year over year, we saw large spikes in home prices across our region. Compared to last February, we saw a huge 41% increase in sale prices across our communities. In Tay Township alone, we saw over 65% increase in sales prices.

As we bounced in and out of restrictions and lockdowns across Midland, Penetanguishene, Tiny and Tay, we saw the trend of low inventory continue. Active listings are down over 74% compared to 2020. With low competition, now is the 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 March 12, 2021, data gathered by the Ontario Collective based on February 2020 vs February 2021.

No Comments

January Market Report In Our Communities

As we said goodbye to 2020, we welcomed 2021 with massive spikes in home prices across our region. To begin the year we saw a huge 98% increase in sale prices across our communities compared to 2019. In Penetanguishene alone, we saw over 168% increase in sales prices.

As restrictions and lockdowns increased across Midland, Penetanguishene, Tiny and Tay, we saw the trend of low inventory continue. Active listings are down over 85% compared to 2019. With low competition, now is the 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 February 4, 2021, data gathered by the Ontario Collective based on January 2020 vs January 2021.

No Comments

Covid 19 Grey Lockdown: What to expect when buying or selling your home.

With cases on the rise throughout Ontario, we’re all preparing for what a Grey Lockdown looks like. Your For Sale On Georgian Bay Realtors continue to minimize direct contact by using digital and virtual alternatives where possible.

If you’re looking to buy or sell a home across the Georgian Bay region, you can depend on your local professionals to take the necessary precautions to keep everyone involved protected, while still providing the knowledge and expertise you expect.

Here’s what to expect:

  • All in-person Open Houses are prohibited.
  • Showings by appointment are permitted.
  • We will maintain a minimum of six feet apart at all times.
  • We will use personal protective equipment and sanitize our hands before and after any showings.
  • We will avoid shaking hands.
  • Expect a limit on the number of persons that can attend a showing.
  • We will encourage the avoidance of touching any surfaces in the home, eg. light switches, door handles, door handles and cabinet doors.
  • We will not allow the use of any bathroom facilities at the property.
  • We will not share the use of any electronics (phones, tablets etc.), pens or any other personal property during the showing.
  • We will comply with requirements of the seller during the showing.

With the use of virtual showings or in-person safe showings as a way to see and view properties, your buying or selling journey might be different, but not diminished.

If you have any questions about how the process might work, don’t hesitate to contact us, we’ll be able to guide you through the whole process. With For Sale On Georgian Bay, we’ll be with you – every step of the way.

No Comments

August Market Report In Our Communities

A look back at August 2020 compared to July 2020 and why it’s a great time to list your Property for Sale.

What a great Summer we had on Georgian Bay, but where did it go? Let’s hope for some warm and sunny Fall weather over the coming weeks. As quickly as summer flew by, the housing market continued to gather pace too. 

The housing market has continued to rebound during Covid 19 and July saw large increases across the board compared year over year. This trend has continued into August and we’ve actually seen, on average a 18.3% raise in the amount of home sales in Midland, Penetanguishene, Tiny Township and Tay Township.

During August, buyers were flocking towards Tay Township where we saw a remarkable 285% increase in the number of homes sold compared to July. Tiny Township proved to be the most popular community among buyers as 39 sales were recorded in August.

It’s not just the amount of homes that has risen, house prices are also going up. The sale price of Homes in August 2020 has increased, on average 1.3% between Midland, Penetanguishene, Tiny and Tay. Although a modest increase across our communities combined, in Penetanguishene, we saw the average sale price rise 16.9% to $529,445 in August.

Whilst the number of homes and the sale price have both risen, we are still seeing a shortage of inventory on the market. 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 September 17, 2020, data gathered by the Ontario Collective based on August 2020 vs July 2020.

No Comments

Market Report In Our Communities

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.

No Comments

Toronto Home Prices In June Exceed Pre Covid Levels

We like to keep our finger on the pulse of what is happening in the GTA so that we can be prepared for when those trends filter north and all the way to Georgian Bay.

The Toronto Region housing market recovered considerably in June following a significant slowdown due to COVID-19. As cases started to decline across the province and the economy began to open up, more buyers and sellers jumped off the sidelines and returned to the market, kickstarting sales recovery. Similarly, average home prices continued on a steady upward trajectory, lapping February 2020 levels. This is significant as February was the last full month before COVID-19 health and safety measures were introduced. 

TREB noted there were 8,701 home sales across the Toronto Region in June – representing a striking 89% increase since May. Compared to February 2020, home sales across the Toronto Region grew 20%. New listings picked up across the region in June and exceeded June 2019 levels by 2%. New listing growth was significant on a m-o-m basis as well, with a 77% increase, and grew 52% since February.

So what does this mean for you? Based on the recent traction we are seeing in the market, although demand is not quite at pre-emergency levels, it certainly feels as though we are heading back in that direction. Inventory is growing again in the Southern Georgian Bay region and the demand for property is growly at a daily rate, especially as those looking to move north are selling their GTA properties.

Your best bet at staying informed is always to reach out to Adam, Eric or Kelly.

No Comments

Changes To Insurance Criteria, Starting July 1st

On Thursday, June 4 2020, Canada Mortgage and Housing Corporation (CMHC) announced new, tighter mortgage borrowing criteria that will apply to all insurance applications beginning July 1, 2020. CMHC is Canada’s largest mortgage insurer and offers mortgage default insurance to property buyers to ensure lenders are protected in the event that borrowers fail to pay their mortgages. Mortgage default insurance is mandatory for high ratio mortgages, which are mortgages where the down payment is between 5% and 19.99%.  

CMHC cited the impact of COVID on several sectors of the economy and its recent 12 month forecast on home price declines as the key factors in its decision to change its underwriting criteria. According to CMHC President and CEO, Evan Siddall, these changes will “protect home buyers, reduce government and taxpayer risk and support the stability of housing markets while curtailing excessive demand and unsustainable house price growth.” 

So what does this mean for you? It means that an applicant must now have Higher Credit Scores, Lower Debt Service Ratios, and Limit Down Payments from Non-Traditional Sources.