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February 2023 Market Report For Our Communities

The spring market is just around the corner and we’re already seeing signs that it’s going to be a great market for Buyers and Sellers with lots of activity. However, looking back on February, we saw a 28% decrease in sales activity compared to 2022 with just over 100 properties sold across our region. Staying in line with the last 6 months of 2022, active listings continued to surge, across our communities we saw 212% rise in active listings. There’s lots of opportunities for Buyers right now as we’re seeing so many new listings and at the same time, property sales slowed down last month.

In our local communities, we saw sale price decreases in Midland, Penetang and Tay but a large increase in Tiny as the $1 Million mark was broken again, much like it was during most of 2022. However, it’s important to note that there were limited sales to base this information off – Sales Activity was down almost 54% across the region with only 30 sales in our communities. As we compare this to the start of March and look to the spring market, we expect a re-balancing of the market to continue with more opportunities for buyers but also attractive sales prices for sellers.

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 3rd, 2023, data gathered by the Ontario Collective based on February 2022 vs February 2023.

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