Georgian Triangle Market

According to statistics from the Georgian Triangle Real Estate Board, 1 in 4 homes that are listed actually sell. These results to the end of May. This results in longer days on market and a larger selection for buyers to chose from. In 2010 this measure of performance increased to 1 in 3 towards the end of the year. All areas have seen a decline in units sold with the exception of Wasaga Beach which saw a slight increase of 3%. The 12 month average price has increased in all areas, indicating that there has been an increase in the sale of pricier homes.  Sales up to 799,999 experienced a decline while 800,000 to 1 million+ saw an increase. When reports surface that the average house prices have risen,  it is prudent to check the root cause.

Indications are that the economy is continuing to improve and that the Real Estate market will remain strong this year. Current low interest rates make home buying attractive. In our area the weather often plays a factor and this year has had its share of bad weather. As I write this the sky is overcast and rain is forcast. With warmer weather on the way, and hopefully clearer skies the market to will continue to heat up.

Doug Fraser

Doug Fraser

Broker
CENTURY 21 Millennium Inc., Brokerage*
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