Friday, January 8, 2021

Fourth Quarter & 2020 Year End Market Review


Quarter 4 & 2020 Market Review

What a year in Real Estate! Looking back to early March there was a lot of uncertainty about what this year would be. With the warmer weather and the gradual re-opening of the economy, the market saw record number of sales as we saw a transition of buyers who were leaving the city for year round living in more rural and traditionally cottage markets as working remote from home became normal. This trend continued into the fall and quarter 4 market.
Year over year we saw reduced inventory on the market with an increase in sales.

These both factored into the prices we saw in the market place and increases seen from 2019. Grand Bend non lakefront up 29.5% ... Bluewater Lakefront's up $23% ... Bluewater lakeside cottages up 10% and Port Franks area up 18%. Grand Bend lakefronts like Southcott / Oakwood & Beach O'Pines are statistically down in price due to the quality of some of the cottages sold affecting the price. The average price point for this market is still strong and holding steady on price.

If your thinking of selling ... Give us a call!

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