We’ve had a little time to settle in to 2020 and reflect on how much things have changed, in Real Estate, over the past ten years (such as prices $$$). You may find it hard to believe, but in 2010, the average 3-bdrm home in our area was selling for half of what it is today. If we all only knew then . . .
There are so many issues that affect the real estate market, globally, nationally, locally, and in micro markets.
Locally, the greatest factors impacting our market are:
- The lack of homes for sale in general
- The lack of entry level and all-one-level homes
- The sheer lack of homes under 500k
It’s a good time to be a seller. According to the President of the Southern Georgian Bay Association of REALTORS®, “Strengthening sales in an environment of still low supply suggests 2020 could be another year of strong price growth.” This sounds a little daunting if you are a buyer, but the good news is there was a slight rise in listings in January of this year and stability in low interest rates.
If you are thinking of selling, a professional realtor can provide you with:
- Comparable listings in your neighborhood
- Advice to help you determine the value of your property and a fair listing price
- Recommendations for renovations or updates that will improve the value of your home
- Ideas for staging your home to increase the appeal for potential buyers
If you like numbers and are interested in the specific listing statistics for our area, the Southern Georgian Bay Real Estate Association publishes information regularly.