February 2021 Market Watch

March 12, 2021

It has been no secret that the market has been a wild ride, it is all over the media and you or someone you know has likely been impacted by the multiple offers, Buying or Selling. We watch the market all the time, in real time, and see the slight fluctuations in List Price vs. Sale Price. In a market like the one we are seeing it can seem to have no opportunities, we see the finer cracks and highly sensitive to the local opportunities. This is why we share a monthly sales watch with our people, if you are trading in Real Estate that is the only time these dips and peaks affect your purchase. If you are already a home owner, it isn’t always a good idea to watch the market so closely…but, it is good to dip in the waters every once and a while to feel the rush. Home ownership has many layers, it is your home, a place for you to be you, to relax and grow…it is also a financial investment, and just like the stock market the values fluctuate, and if you watch it too closely it can be exhausting. That is another reason why we offer our Monthly mailer. Open it if you want to know more, pass it by if you want to know less.

In general, stats usually keep Fergus & Elora grouped together under Centre Wellington, and Kitchener & Waterloo together. We know that these areas are distinct and have their own pools of buyers with different motivations. The problem with Elora is that there is a smaller pool of inventory, so a single sale can throw the percentages off wildly. Fergus and Elora have a lot of New Construction as well, and when those close over March & April the numbers there will seem inflated as well, it is better to watch these numbers quarterly and annually. Kitchener & Waterloo is a lot of the same, but it is new construction freehold and condominium closes that influence that market. You will see sharp increases and decreases in value month to month or season to season, depending on closes. Year Over Year sales and percentages are the most important when you are looking at your over all value, the Month to Month becomes more important when you are Buying or Selling this year.

Another important thing to watch is GTA prices, that has a direct impact on what our values, west of the GTA look like, and can be a very good indicator of where we are going. We have seen it consistently since GTA prices have raised, and the new builds along the 401 became less plentiful and less affordable, we have been sitting ducks waiting for the increase. We watch areas like Brampton, Hamilton, Milton, Waterdown & Halton Hills because we see buyers coming from these areas, these are the price points and timelines they are up against. The more we take these values into consideration the more accurate our assessment of our values are and the sooner we can get to a less wild market and we can price houses for sale so they are still inviting for these buyers to still come up the highway. It is a delicate balance.

We hope this information is helpful, we are happy to expand on it, break it down for your individual needs and area. It’s what we do everyday.

Reach out for more info!

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