Prices up, sales down, listings in demand.
We’ve been reading the same story throughout 2017, and now the annual numbers in cottage country are painting the same picture.
In full year to year (2016 vs 2017) comparisons, real estate prices on average have increased 20% for waterfront houses/cottages, with sales down 13%.
Trends weren't much different for off-water residential, with prices up 10% and sales down 13%.
"I feel we will have another strong spring market, and there seems to be buyers left over from last year. The economy is humming along and GTA/Boomers scenarios appear to be similar to last year,” said Andrew Hodgson, broker of record for Century 21 Granite Realty.
"The GTA will be a bit cooler, for sure, but still strong compared to traditional market places.”
The stats tell us this is an excellent time for sellers to maximize their property’s potential.
Buyers will need to be ready to act— including financing pre-approval and a clear understanding that good properties sell quickly.
Working with an experienced local realtor who is in tune with active listings will also serve buyers well.