December Market Report
The data is in!
December was a very slow month for Haliburton Real Estate seeing a major drop in inventory down to only 12 properties sold. However, prices are up significantly from last year. This provides a very attractive opportunity for sellers! With so many buyers in play and very limited inventory, our properties are selling for more than ever!
The average price of waterfront properties was up 11% in 2020 at over 1 million dollars and residential prices are up 73% almost reaching $700,000. Waterfront Properties Selling for 116% of the asking price tells us bidding wars are still very much in effect with just 14 days on the market things are still moving very quickly. The shortage of inventory only contributes to this as the number of buyers is significant in comparison to the number of properties.
However, some good news for residential buyers as properties went up to a staggering 77 days on the market selling for only 99% of asking it would appear residential homes are starting to level back out, all be it at an astonishing price point never before seen in Haliburton County.
The outlook for 2022 at this point all relies on inventory. We fear there may not be much to sell contributing to the fast passed market with what few properties that do come up selling for way over asking.
To anyone considering selling their property now is the time! Contact Team Cottage Country for a free property evaluation! Buyers hang in there, your dream property is out there and we will do everything we can to help you find it!