Southern Georgian Bay- Market Update
SCARCITY FUELS BUYER FRENZY
February 2021 was another record breaking month in the Southern Georgian Bay Region. Unprecedented low inventory coupled with soaring demand for our region has resulted in double digit price growth. Multiple offers and over asking price outcomes have become the norm with Sellers reaping the rewards while Buyers fight to establish a foothold in our region.
There are a number of factors that continue to fuel our strong market conditions including record low interest rates, increased demand for weekend properties, remote working feasibility, buyers exiting the city etc. It would take months for our market to return to balance which can be caused by a decrease in buyer demand or an increase in the supply of homes available for sale, neither of which we predict will change much over the coming months.
Buying and Selling in a fast paced market comes with a unique set of challenges and rewards. It is more important than ever to have a trusted advisor that has a deep understanding of our market and is experienced with navigating the current conditions.