Home sales have slowed somewhat as a result of new measures in place by the government to reign in escalating prices across the GTA, but in Centre Wellington the ‘slow-down’ is closely mirroring the typical seasonal slowdown of the summer months.
The average sale price of homes has eased slightly as a result of reduced buyer pressure and multiple offer situations which were previously driving prices up to unsustainable levels. Year to Date average home prices are $513,289, whereas August 2017 home sales average price was $469,853. The number of home sales in August has also slowed slightly, with 39 homes selling in August 2017, compared to 49 in 2016 and 45 in 2015.
As a result of reduced buyer pressure, prices have stabilized somewhat, and buyers have a more realistic expectation on what to offer on a home, while Sellers too, benefit from knowing more closely of what their home will likely sell for.
Message or call me if you’re interested in what home is currently worth or if you know someone who is looking to make a move.