November Market Report
The hot summer season has definitely slowed down. In the past 2 months, there has been a limited number of waterfront and residential properties for sale in the Haliburton area. There were only 43 properties sold this November. This leaves many eager buyers desperately trying to purchase their dream property in cottage country.
Waterfront properties are in such high demand that people are paying on average 12% over the asking price. That makes November one of the highest months of all year. The average number of days a property is on the market has increased this month. Even waterfront properties, which sat on the market for an average of 17 days. However, all that being said the average sale price actually went down. The average sale price decreased by roughly one hundred thousand dollars to $856,862. This is one of the lowest averages this year.
A small boost of high-end properties has popped up on the otherwise dead market. There are still many active buyers looking for their next home or cottage with no luck. Our advice to buyers is to wait for the spring market when there is an increase in inventory. Sellers know that the market is still in your hands. Properties recently listed are being sold for over asking in a matter of a couple of weeks. There’s no telling how long this will last, if you are thinking about listing your Haliburton property now is the time!