What price points are selling best?
Every single price point is selling well, even in the under $100,000 range, right up to the $1.5 million range. Homes that are over $1.5 million have increased in sales by 111%. This means people are spending more and have larger budgets. The other biggest gains are seen in homes from $500,000 to just under $1 million, which makes sense, as this is where the majority of homebuyers are.
Where are homes selling the best?
Clearview is leading the way in terms of sales, with an increase of 31%, followed closely by Wasaga Beach, with an increase in sales by 29%, in an already high-volume market. But, all areas in the region, including Collingwood, Grey Highlands and Meaford are experiencing increases in sales volume.
What are people buying?
While all properties are selling well, the biggest increase in sales are on vacant lots! This might mean that people are already planning their retirement and know that valuable land is being sold by the day and they don’t want to miss out. Besides this, single family homes and condos are also selling well.
What does this mean?
While many experts question how long the trend of increasing home sales and prices in a market where there aren’t enough homes to go around will last, it is a good time to enjoy the ride. Buying a home now ensures you get into this market while you can, in case the prices continue to go up.