Market Report May 2022
We saw a major shift in the Haliburton Real Estate market in May. Average sale prices dropping considerably from April and even coming in lower than May of 2021 in both residential and waterfront properties!
Sellers! We are still in a seller’s market with the average sale price being about 103% of the asking price and we are still seeing most properties move pretty quickly at an average time on the market of 15 days for residential and 12 days for waterfront properties. We are also continuing our lack of inventory trend with about 50% fewer listings from May 2021 leaving buyers little to choose from. However, we are seeing a significant decline in showings and offers.
Buyer’s time to start looking! Many properties are going unsold on their offer day if they are even holding for offers. You are now in a position to potentially get your dream property without a massive bidding war. Some properties are sitting for considerably longer and we are at a point in the market where there’s no guarantee something will sell. Does that mean everything is sitting? No. lots of properties are still seeing multiple offers, however, there is a shift happening so if you see something that interests you it’s worth giving it a shot!