Sales are almost back to
normal across the County. Controlled
Open Houses are now back, with only 1 couple at a time (in a touch free
environment).
The market is also
rebounding. In June we hit 96.4% of the
record sales in June 2019. (216 sales
versus 224 a year ago across the county).
In July, sales set a record by matching the 216 homes sold in June 2020. This represents an increase of 29% over July
2019. Leading up to these June and July homes sold across the County, sales
were at normal sales levels until “mid” March:
January: 140
February: 141
March: 162 +14.9%
As per our last report April and May home sales were terribly slow:
April: 102
May: 125
And now June and July:
June 184
July 209 +29%
Let us Look at Prices:
Prices peaked across the
County in March at $463,677 and then dropped to $398,658 in April, rebounded in
May to $475,362 and leveled out in June at $470,748 and rose a further 1.5% to
the highest average monthly selling price at $477,751 for the year.
What does the future look like… Inventory of home available across the County will tell the full story! Prices will recover quickly and rise above the $477,751 peak experienced in July 2020
The number of homes available for sale this year are well below 2019. That puts significant upward pressure on prices. May's number of homes for sale translated into 4 months supply of homes offered for sale based on demand. June dropped to 3 months supply and then dropped further in the month of July to only 2 months supply of homes for sale.
Technically we are back into a very aggressive bidding marketplace with bidding going on every offer to purchase in all price categories. The most aggressive bidding is taking place on homes offered for sale across the County between $300,000 and $400,000.
If you know someone
who "needs to sell" due to their financial situation
someone who "needs a larger home" for their growing family
A First-Time Buyer who is ready to buy
DO NOT WAIT! They will be paying a lot more.
Call us now with their name and contact information.
Put our 18 years of Award- Winning Real Estate Service to work for them, you'll be glad you did!
Gib & Mary Heggtveit
Broker & Sales Representative
RE/MAX Centre City Realty Inc.
Gib Cell: 519-535-3975
Mary Cell: 519-535-7355
Email: gib@yourfavouriterealtors.com
