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October Market Report In Our Communities

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

Halloween has come and gone and we’re now on the countdown to Christmas! The biggest gift this holiday season could very well be the value of your home. As we transition into the winter months, we’re seeing a big spike in sales prices compared to September.

The housing market rebounded very well during the summer months of Covid 19 and we’re optimistic about a strong winter market. This trend has continued into October and we’ve actually seen, on average a 17.93% raise in the sales prices of home sales in Midland, Penetanguishene, Tiny Township and Tay Township.

As to be expected, we did see a drop across our communities in the number of houses sold. The beginning of the fall season, kids returning to school and a change in weather are all examples of why we see this drop year over year. Having said that, sales in Midland stayed true to the number of homes sold in September with just 1 less home sold throughout the month.

The lower amount of properties on the market has seen a big spike across the region for sales prices. Tay Township alone saw a rise in the average price from $428,129 to $619,177 in October.

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 prices – 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 November 11, 2020, data gathered by the Ontario Collective based on October 2020 vs November 2020.

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