The February numbers are in and the month roared in like a lion and went out like one too! While the strong numbers were considered surprising just a half a year ago, the outlook for housing in Canada has trended positive and the consensus is prices will rise. CMHC, the Canada Mortgage and Housing Corp, just recently released their revised projections as they had anticipated a decrease in home prices across the board in 2020. Boy, were they wrong.
In Southern Georgian Bay we are seeing much of the same trends that are prevalent across the nation, low inventory and high demand. Here are some of the highlights from this month’s report
- $809,778 – This is the new average sale price in February 2021 as compared to last year at $608,071 in February 2020.
- $152,315,231 – The amount of sales volume in February is up 62% compared to February 2020
- 102.3% – And even with the volume up 62% it cannot keep up with the surge in demand. Properties are now on average selling over asking price and are receiving multiple offers.
We are continuing to work with several buyers that would love to purchase. Please take a moment to check out what they are looking for here: https://collaborativerealestate.ca/buyer-needs/
to the Town of Collingwood for putting on a fabulous event supporting women on International Women’s Day, March 8th. Uplifting and supporting local Women and businesses is the key to keeping our community strong.
Read The Full Update Here With Graphs: FULL MARKET UPDATE FROM COLLABORATIVE REAL ESTATE