REAL ESTATE BLOG
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The Reality of Realty in a Pandemic
To say that the Month of March has been an interesting one, would be an understatement. I've had some people reach out to me over the past couple of weeks; they want to know how the Real Estate Market is handling the pandemic of COVID-19.
What I can tell you is that it's not 'business as usual' as far as our day-to-day actions and workload is concerned. A lot of our 'normal' work that requires face to face meetings with clients has taken a very swift and virtual move.
Things that we would periodically make use of, we now solely rely on. The use of video chats to view homes, health questionnaires before entry to a listed property, new statements and conditions for our paperwork and emailing paperwork for electronic signatures.
It's different, but as an essential service in an environment that changes hourly, it's working. Real estate professionals are here during this time to assist in sales that need to happen but also to be here to assist in closing the homes that have already been sold and firming up any deals that were on-going when COVID-19 hit.
So, you ask; "what’s going on in the Real Estate Market?" Here are some Acton specific statistics to consider
March 1, 2020 - March 31, 2020
- 19 Properties listed on MLS
- 13 of those homes listed between March 15 – March 31, 2020
- 4 of those homes have sold firm at between 99%-103% of ask price
- 3 of those homes have adjusted their price
- 1 has decided to terminate their listing
- I hope you are all healthy, keeping up on your social distancing and know that we are all in this together. Be kind to one another.
As originally published on ACTONUP.CA
The Reality of Realty in a Pandemic - Part II
Real Estate Professionals are here to provide one of the most essential and basic human needs – HOME. With the ever-changing environment we currently live in, the process to find, buy, sell or rent a home has changed and we as Realtors have adapted and continue to adapt.
I myself, took many steps to be able to work virtually before the pandemic and have taken many steps since to create a seamless professional and virtual work environment for myself and my clients. Any in-person meetings are carefully planned out to ensure a high level of comfort and protection for everyone present. I dedicate some of my daily schedule to further educating myself and staying up to date on the challenges surrounding my industry through way of Webinars, Online Classes, Zoom Meetings and Masterclasses. Afterall, what better time have we had to sharpen our skills and enrich our knowledge?
Keeping a close eye on the current market conditions in Acton specifically, here are some statistics to consider for the period of April 1 –
April 30, 2020
- 11 homes sold firm at 98% of asking price
- Average sale price in Acton - $692,450.00
- 25 average days on market to sell
- 3 listings adjusted their list price
- As of April 30th, there are 14 active homes for sale in Acton
Contrasting to April, 2019
- 10 homes sold firm at 99% of asking price
- Average sale price in Acton - $650,640.00
- 18 average days on market to sell
I hope that everyone has been keeping well during this time and please remember that we really are stronger together.
As originally published on ACTONUP.CA
Reality of Realty in a Pandemic - Part III
While the month of May saw us through the tenth week of Ontario’s State of Emergency with the COVID19 Pandemic, the real estate market continued to show strong numbers. There are many forces that can have a direct impact on home sales; in this market specifically, low supply is resulting in high demand, upward pressure on prices and sales that end up with competing offers and sales fetching up to 103% of asking price.
Adapting to an ever-changing environment is a part of being in this business and with changes that occur almost daily for us all, the business continues to adapt. Showing homes – when allowed – comes with it’s own rules and limitations. Masks and gloves are worn, surfaces are generally untouched as the homeowners leave all lights on and doors open as well as the number of people allowed to attend a showing are limited.
Keeping a close eye on the market conditions in Acton, here are some statistics to consider for the period of May 1 – May 31, 2020
· 11 homes sold firm at 98% of asking price with three left conditionally sold as of May 31
· Average sale price in Acton - $715,773 which is just over an 11% increase in value over the same period in 2019
· 21 average days on market to sell
Contrasting with May, 2019
· 23 homes sold firm at 99% of asking price
· Average sale price in Acton - $641,652
· 19 average days on market to sell
Looking forward to June, I feel the current trend will continue and strengthen as restrictions loosen. I hope that throughout this pandemic we have been able to re-evaluate and grow as people, as families and as communities.
As originally published on ACTONUP.CA
How has the Value of your Home Fluctuated? The Reality of Realty in a Pandemic - Part IV
The housing market in June continued to be impacted with low supply / high demand and the looming changes with the Canadian Mortgage Housing Corporation (CMHC) who tightened their rules on mortgage insurance for high ratio mortgages (anyone with less than 20% down). Competing offers continue to be a trend in the market, fetching sellers strong sales topping 103% of asking price in Acton.
Keeping a close eye on the market conditions in Acton, here are some statistics to consider for the period of June 1 – June 30, 2020
· 22 homes sold firm at and average of 99% of asking price
· 9 of the 22 sales sold for over asking
· Acton’s average sale price - $758,310 is a 16% increase in value over the same period in 2019
· 22 average days on market to sell
Contrasting with June, 2019
· 21 homes sold firm at an average of 100% of asking price
· Average sale price in Acton - $655,090
· 24 average days on market to sell
Studying the entire pandemic and comparing to the previous year in market activity; 49 homes sold in 2020 during the pandemic whereas 63 homes sold in 2019 for the same time frame. There were approximately 20% less homes sold, but the sale price of the homes showed an increase of 13% in value. Looking forward to July, I feel the current trend will continue and strengthen as COVID19 restrictions loosen, however the tighter restrictions implemented by CMHC will have a stabilizing effect. I hope that throughout this pandemic we have been able to re-evaluate and grow as people, as families and as communities. As always, Helping You is What I Do!!
As originally published on ACTONUP.CA
July Sees an Increase in Home Values - The Reality of Realty in a Pandemic - Part V
July’s Housing Market continued to be driven with low supply and high demand; too many buyers with not enough homes to sell them. Competing offers continue to be a strong trend in the market, fetching sellers’ prices as high as 114% of asking price in Acton. 63% of the homes that sold for more than asking price used a tactic that encourages multiple offers by listing competitively and holding off offers.
Here are some Acton specific statistics to consider for the period of July 1 – July 31, 2020
· 24 homes sold firm at an average of 102% of asking price
· 16 of the 24 sales sold for over asking
· Acton’s average sale price - $683,833 is a 13% increase in value over the same period in 2019
· 20 average days on market to sell
Contrasting with July, 2019
· 16 homes sold firm at an average of 99% of asking price
· Average sale price in Acton - $606,150
· 21 average days on market to sell
2020 is more than half over and has definitely shown to be one of the most interesting years for Real Estate. Typically, July and August are slower months of the year for Buying & Selling;
this year is completely different showing strong markets month after month. Leading into the Fall Season, Real Estate typically sees the market start to pick up steam in the third week of September; I’m looking forward to see what happens this year!!
As originally published on ACTONUP.CA
Record Setting Month for Real Estate - The Reality of Real Estate in a Pandemic - Part VI
The Housing Market in August proved to be a record setting month in 2020. Buyers have been flooding the market for the entirety of the year, making it a Seller’s Market and now Buyers are backed with extremely attractive mortgage rates below 2%.
In August, Acton saw a 12% increase in the average sale price of a home over the same month last year making the average sale price $672,932.
Homes are taking an average of eight days on the market to sell, indicating that people are purchasing it within two days of being listed then completing their typical five business day conditional period.
I am pleased to see more people completing their due diligence when buying a home – doing a home inspection as well as completing a proper condition of financing before committing to buying a home.
Here are the Acton specific statistics to consider for the period of August, 1 – August, 31, 2020
· 22 homes sold firm at an average of 103% of asking price
· 13 of the 22 sales sold for over asking
· 8 average days on market to sell
Contrasting with August 2019
· 17 homes sold firm at an average of 97% of asking price
· Average sale price in Acton - $601,553
· 37 average days on market to sell
To get your foot in the door of Home Ownership in Acton, the lowest sale price in August was $295,000 for a two bedroom condo-apartment whereas the highest price was $860,000 for a four bedroom detached home. Toward the end of the month I saw a slight seasonal slow to the pace of the market as it typically does when parents and students are preparing for the return to school. Return to school for 2020 has been a big source of anxiety for parents and I did see a slight effect of this in the housing market. I am anxious myself to see what the new school year brings us; typically after two-three weeks of back to school routine, the housing market picks back up again to signal the beginning of the Fall market, let’s see what 2020 has in store for us!!
As originally published on ACTONUP.CA
Strength in the fall market - The Reality of Realty in a pandemic Part VII
September's housing market continued to see surging sale prices and incredibly low mortgage rates. The fall market for real estate usually begins two weeks after the kids go back to school and families are back into a routine. This year has been unlike any other for school as well as for real estate where we saw no defined end of the summer market and beginning of the fall market.
For September, Acton saw a 19.8% increase in the average sale price of a home over the same month last year making the average sale price $665,819.00 with an average of seven days on the market to sell.
Specific statistics to consider for Acton during the period of September, 1 – September, 30, 2020;
- 16 homes sold firm at an average of 104% of asking price
- 11 of the 16 sales sold for over asking
- 7 average days on market to sell
Contrasting with September 2019;
- 18 homes sold firm
- Average sale price in Acton - $555,722.00
- 21 average days on market to sell
Reviewing a snapshot of real estate in 2020; Acton saw 134 firm sales which is a 6% decrease in the number of homes sold at this time last year. Market value this year has risen 17% from last year to an average sale price of $695,113.00.
Halton Hills has quickly become a safe haven for people wanting to escape the city and the restrictions that come along with living through COVID-19 in regions such as Toronto and Peel. There is a strong want and need for land, and space for families to call home, which naturally brings them to the more rural areas just outside of major cities.
As this migration from the city happens, I find people selling here are looking to go North into cottage country. Although there seemed to be a slight seasonal slow at the end of August into the beginning of September, the market held strong. With a strong real estate market, we will see that this supports other parts of the economy, such as banking, general contracting as well as licensed trades.
As originally published on ACTONUP.CA
Please Join Us for Our
Annual Pumpkin GIveaway
Please Sign Up ...
And Check Out These Other Events Around Town
https://www.actonup.ca/news/halton-hills-gets-masked-up-for-halloween
I was so thrilled with the turnout at Saturdays annual Royal LePage Escarpment Pumpkin Giveaway.
Our community is so close knit even in these socially distanced times. We had a successful turnout that saw 51 pumpkins to go to their loving homes to be carved up for our pumpkin carving contest.
Show us your best of the best Acton! The winners of the carving contest will be announced at noon on Halloween - October 31, 2020.
Photo Cred- Chris Golden- Acton UP
The very first Acton Pumpkin Promenade was held on Sunday evening (November 1, 2020) and was a huge success!!
We got over 200 pumpkins that were all lit up and enjoyed by the town ... the next morning Cody's Cows collected the pumpkins to feed to their animals!!
Looking forward to the Acton Pumpkin Promenade 2021
The Brilliant Local Family of Cody's Cows picking up the Pumpkins from the Promenade to feed to their animals on the farm!!
Nom Nom Nom
October is the spookiest of months … and October’s real estate landscape was spooky in it’s own right. With some of the GTA being sent back to modified stage two restrictions to help ease the spread of COVID19, there was a slight slowing of the market. In the rural suburbs of the Greater Toronto Area we have seen the continued influx of people moving out of the city with the number one demand being high speed internet so that they can work from home.
The market continues to be supported with record setting low mortgage rates, high demand for buyers moving out of the city and having the flexibility of working from home. In October, Acton’s real estate market increased 11% over the same month last year and year to day home prices are up by 17% over the average sale price for 2019 making this year’s year-to-date average sale price $708,823
Here are Acton specific statistics to consider for the period of October, 1 – October, 31, 2020;
- 20 homes sold firm at an average of 103% of asking price
- It took an average of 20 days on the market to sell firm
- Average sale price in Acton - $698,653
- Lowest sale price - $430,000
- Highest sale price - $1,150,000
Contrasting with October 2019;
- 17 homes sold firm at an average of 98% of asking price
- It took an average of 41 days on the market to sell firm
- Average sale price in Acton - $630,000
- Lowest sale price - $360,000
- Highest sale price - $950,000
I continue to see buyers coming to the Halton Hills & Wellington areas to escape the city and the restrictions that come along with living there. Going into the Winter months, I don’t expect to see a real slow until closer to mid - December as people slow down for the Christmas Holidays.
As originally published on ACTONUP.CA
Fall Market not Falling - The Reality of Realty in a pandemic Part VIII
Late fall market still feeling the heat - The reality of realty in a pandemic - Part IX
November’s real estate market brought a continued increase in market value and an resurgence of activity as the Provincial Government locked down the Toronto and Peel Regions. The lockdown seems to have encouraged people living in those areas to reconsider where they are living, feeling a stronger urge to get out of the city and into the country.
In November, Acton’s real estate market increased a whopping 29% over the same month last year, and year to date home prices are up by 18% over the average sale price for 2019 making this year’s year to date average sale price $717,186.
Here are Acton specific statistics to consider for the period of November, 1 – November, 30, 2020;
- 10 homes sold firm at an average of 103 percent of asking price. It took an average of 9 days on the market to sell firm.
- Average sale price in Acton - $711,890
- Lowest sale price - $465,000
- Highest sale price - $875,000
Contrasting with November 2019;
- 9 homes sold firm at an average of 100 percent of asking price
- It took an average of 24 days on the market to sell firm
- Average sale price in Acton - $552,000
- Lowest sale price - $365,000
- Highest sale price - $660,000
Going into the Holidays, I continue to see buyers coming to the Halton Hills and Wellington areas and buying at a faster rate with lower days on the market than in October. I hope that everyone stays safe and enjoys their upcoming holidays. As this is the final monthly market update for 2020, I wish everyone a 2021 that’s more peaceful than 2020 has been to us.
As originally published on ACTONUP.CA
December’s real estate market continued to show strong activity and increased prices. While Halton was in the Red Zone for COVID19 restrictions, it continued to be a hot spot for buyers coming from Peel and Toronto Regions. December 26th saw our entire province go into the Grey Lockdown Zone; leaving the real estate industry as an essential service to continue to meet the needs to one of the most essential human needs – home.
Acton’s real estate market increased a whopping 21% over the same month last year, and home prices are up by 18% over the average sale price for 2019.
Here are Acton specific statistics to consider for the period of December, 1 – December, 31, 2020;
- Seven homes sold firm at an average of 102 percent of asking price.
- It took an average of 18 days on the market to sell firm.
- Average sale price in Acton - $669,429
- Lowest sale price - $580,000
- Highest sale price - $720,000
Contrasting with December 2019;
- Seven homes sold firm at an average of 101 percent of asking price
- It took an average of 15 days on the market to sell firm
- Average sale price in Acton - $552,771
- Lowest sale price - $319,900
- Highest sale price - $900,000
The market numbers for Acton in 2020 are as follows;
- 186 homes sold firm at an average of 101 percent of asking price.
- It took an average of 17 days on the market to sell firm.
- Average sale price in Acton - $686,744
- Lowest sale price - $290,000 for a condo apartment
- Highest sale price - $1,150,000 for a five bedroom detached home
- The average sale price for 2020 is up 15.3 percent over 2019
- Six percent more sales were made in 2020 over 2019
As we welcome 2021, the real estate industry will continue to serve the needs of the community as an essential service although it may not be ‘business as normal’ for us. Increased emphasis will be put on the virtual abilities including virtual tours, electronic signatures, virtual showings to guide us through the remainder of the COVID19 Lockdown.
Don’t ever hesitate to reach out if you have any questions about the local real estate market.
May the New Year bring Peace and Prosperity to you and your family.
As originally published on ACTONUP.CA
Winter market held strong - The reality of realty in a pandemic Part X
"I am very proud of the Award Winning Service I provide to my clients and the prestigious
recognition through Re/Max at the beginning of my career and Royal LePage through the rest of my career to date."
Sarah Brophy-Platts
Broker & Owner
Royal LePage Escarpment
January Brought Heat to the Real Estate Market- The Reality of Realty in a Pandemic Part XI
We entered the 2021 Real Estate Market in a Provincial State of Emergency with a Stay at Home Order in effect. This left people living in bigger cities feeling the pressure of being in tight quarters and wanting more space. In turn, the migration from big city to small town kept the real estate market red hot. In the outer limits of the GTA, including Acton, prices are increasing due to low inventory with high demand. This imbalance is making it very difficult for buyers.
Acton’s real estate market increased a whopping 42% over the same month last year. To note - this data does include one sale of a very stately century home that sold in January for $1,325,000.00. If you subtract that one out of the mix, the math still shows a 31% increase over January 2020.
Here are Acton specific statistics to consider for the period of January, 1 – January 30, 2021;
- Eight homes sold firm at an average of 104% of asking price.
- It took an average of 18 days on the market to sell firm.
- Average sale price in Acton - $842,489
- Average sale price in Acton (excluding the $1.325mil sale) - $773,558
- Lowest sale price - $575,000
- Highest sale price - $1,325,000
Contrasting with January 2020;
- 11 homes sold firm at an average of 99% of asking price
- It took an average of 26 days on the market to sell firm
- Average sale price in Acton - $591,800
- Lowest sale price - $410,000
- Highest sale price - $775,000
The 2021 Real Estate Market has continued to show great strength, held up by low interest rates, high demand and record setting low inventory. If you are looking to get into the market as a buyer, I highly suggest getting all of your ducks in a row. Start by getting a pre-approval from a reputable Mortgage Specialist. Create a list of your wants and needs as well as the specific area you want to find new home in. Once this is completed, reach out to a trusted REALTOR® to help you get the upper hand in this competitive market.
Don’t ever hesitate to reach out if you have any questions about the local real estate market.
As Originally Published on ACTONUP.CA
As I sat there and mulled over the data in front of me for the month of February and the trends in early March, I realized that this market is extreme in every sense of the word. Buyers have an extreme sense of urgency to buy because of the lack of inventory but also because of the extreme need to get out of the city. Sellers have an extreme expectation that their house will sell for more than it’s reasonably worth, and this turns out to be true in many circumstances. Buyers can feel extremely discouraged in this market. Real Estate Salespeople & Brokers who represent buyers are extremely overworked and exhausted vs representing sellers are extremely shocked to see some of the offers coming in.
Acton’s real estate market increased a whopping 23% over the same month last year. Here are Acton specific statistics to consider for the period of February, 1 – February 28, 2021;
- Sixteen homes sold firm at an average of 108% of asking price.
- It took an average of 6 days on the market to sell firm.
- Average sale price in Acton - $857,000
- Lowest sale price - $675,000
- Highest sale price - $1,172,000
Contrasting with February 2020;
- 14 homes sold firm at an average of 100% of asking price
- It took an average of 17 days on the market to sell firm
- Average sale price in Acton - $695,804
- Lowest sale price - $429,900
- Highest sale price - $970,000
It took me a little longer than usual to put my pen to paper for my monthly update. Not only because it’s a busy time, but I also wanted to help educate people on what could be the biggest investment of their life. When you decide you’re ready to buy a home, it’s extremely important to get preapproved by a reputable Mortgage Specialist. This alone will help in the competitive market we find ourselves in. It’s equally important to set an affordable budget and stick to it. Do not throw all caution to the wind. When working with a Realtor, it’s important to rely on them for advice; specifically advice on what a reasonable price for the home would be based on comparable recent sales.
I do fear that as this market continues to climb with such haste, we will start to see issues arise. Some homes may end up not appraising by the mortgage lender and the buyers may fall short on their down payment, which may force some of these homes that have sold to return to the market. It’s happened before and it can happen again. It creates a domino effect for other transactions that may have relied on that one sale and this is a reality I’ve witnessed. I feel like some hard lessons may be learned in the coming months – reflective of 2017 when the market corrected.
Don’t ever hesitate to reach out if you have any questions about the local real estate market.
As Originally Published on ACTONUP.CA
February Real Estate Update - The Reality of Realty in a Pandemic Part XII
Robin - The Rescue Chicken
On March 17, Acton Realtor, Sarah Brophy-Platts was supporting a client with an eviction. As they inspected the property they found a fenced in area with a coop; “The fence had clearly been breached by animals, possibly predators.” says Platts. But when they peered in the window of the coop they spotted a lone chicken. “The living conditions weren’t great,” she says.
Platts called a friend who has chickens in hopes that she may be able to take this one in. Unable to take the bird the friend suggested Marylyne Hooke, the owner of Bakin’ & Eggs.
John Hooke arrived on scene within a couple of hours. Upon seeing the chicken he said; “Hey pretty girl.” “And that chicken walked right up to him and waited to be picked up, no fuss, not even when he put her in a crate for transport,” Platts recalls.
Known for their roadside stand at 11646 Dublin Line, outside of Acton, the Hooke’s have 60 laying hens and 22 hatchlings. They have a small shed by the road where they sell Marylyne’s fresh baking, eggs, maple syrup and other seasonal wares. She posts available products on her Facebook page at https://www.facebook.com/BakinAndEggs
Marylyne named the chicken Robin, as she had just seen her first robin on her walk that day.
Robin was placed in an area away from the laying hens to ensure everyone’s health. She currently resides with another rescue chicken (all the way from Toronto), a six year old chicken (Henrietta) from their first hatch, and some silkie chickens.
When she found the feed “she didn’t come up for air for a good 5 minutes,” says Hooke. Two hours later when he went back to close up for the night, she was back at the feed dish again. “This morning her crop is full,” he says.
“It’s a St. Patty’s Day miracle,” Platts’ client who wishes to remain anonymous, told us. “It’s another example of how this town just comes together,” Sarah adds.
As Originally Posted on ACTONUP.CA
Welcome to Spring!! March has been known to come in like a lion and out like a lamb. This year, one could say that this does ring true. While navigating the market this year, I feel there has been a shift. In the later half of the month, there were four homes that held off offers and wound up with no offers or one offer that wasn’t acceptable to the sellers. When this happens, the sellers have some decisions to make.
Even with a bit of a change in the air, Acton’s real estate market increased a whopping 29% over the same month last year. This is an interesting month to study; this month last year was when the world shut down and by the end of March 2021 we were on a slippery slope headed toward another shut down. It has now been an entire year of writing my Monthly Update on the local market and it’s been quite a ride.
Here are Acton specific statistics to consider for the period of March, 1 – March 30, 2021;
- 27 homes sold firm at an average of 110% of asking price.
- It took an average of 7 days on the market to sell firm.
- Average sale price in Acton - $883,407
- Lowest sale price - $480,000
- Highest sale price - $1,200,000
Contrasting with March 2020;
- 15 homes sold firm at an average of 99% of asking price
- It took an average of 29 days on the market to sell firm
- Average sale price in Acton - $680,767
- Lowest sale price - $525,000
- Highest sale price - $872,500
I feel like we have reached a point where things will calm in the market and they’ve already shown signs of calming. As more inventory becomes available, buyers will have more options and they won’t be as frantic with their offer prices. One fear I have is that some of the homes that did sell for shockingly high prices may have issues closing if the buyers didn’t have their financing in order. This is something that has happened before and could happen again.
While navigating the market as a buyer or a seller, please remember that the highest offer is not always the best offer. Don’t ever hesitate to reach out if you have any questions about the local real estate market.
As Originally Published on ACTONUP.CA
Spring has Sprung - The Reality of Realty in a Pandemic Part XIII
Volunteering in my community and giving back to the town where I'm working and raising my family is high on my list of priorities. It give me a chance to touch base with members of our town who may need a little extra support and share any ongoing events & news that may benefit them.
It's impotant to support those who support you.
The Reality of Realty in a Pandemic Part XIV
April brought us into a third wave of COVID-19 as well as a third Lockdown in Ontario with a Stay at Home Order mid-way through the month. Some sections of the market felt an immediate halt in activity. Even with less buyers in the marketplace, prices held strong on average.
In most cases, homes were still using the tactic of listing competitively and setting an offer review date. Most homes did sell on that date but some didn’t. These homes usually received offers shortly after the offer date or relisted at a different price and sold shortly thereafter. There are five homes that did still remain on the market in Acton at the end of April with an average of more than two weeks on the market.
Four full months into 2021 Acton’s real estate market showed an increase of 29 percent over the same timeframe in 2020 with a 60 percent increase in the number of sales.
Here are Acton specific statistics to consider for the period of April, 1 – April 30, 2021;
29 homes sold firm at an average of 108 percent of asking price.
It took an average of eight days on the market to sell firm.
Average sale price in Acton - $855,483
Lowest sale price - $432,000
Highest sale price - $1,300,000
Contrasting with April 2020;
12 homes sold firm at an average of 98 percent of asking price
It took an average of 23 days on the market to sell firm
Average sale price in Acton - $669,750
Lowest sale price - $420,000
Highest sale price - $916,000
One thing I have noted in the area is that only about half of the listings in Acton are listed with a local Realtor®
Some things to take into consideration when choosing your Realtor® and what makes the choice of a local Realtor® a good choice are noted here. A local Realtor® knows the area like the back of their hands; they pride themselves on this and are probably also your neighbours. They know the answers about schools, parks, shopping or that weird / smelly building around the corner. A local Realtor® gives back to your community, they support the sports teams that your kids play on and are always supporting the community events that you enjoy. You’d be surprised when they know things about your home or your neighbourhood that you didn’t even know about. They intimately know the other listings that have sold and they keep their finger on the pulse of the market while studying current trends. I encourage you to make informed decisions when choosing your next Realtor®
AS ORIGINALLY PUBLISHED ON ACTONUP.CA
Throughout May, Ontario continued to be under a Stay at Home Order, but that didn’t prevent people from searching for their new home.
Five full months into 2021 Acton’s real estate market still showed a strong increase of 30 percent over the same timeframe in 2020 with a 73 percent increase in the number of sales with 102 sales – year to date.
Here are Acton specific statistics to consider for the period of May, 1 – May 31, 2021;
- 21 homes sold firm at an average of 108% of asking price.
- It took an average of 9 days on the market to sell firm.
- Average sale price in Acton - $870,818
- Lowest sale price - $428,000
- Highest sale price - $1,152,000
Contrasting with May 2020;
- 11 homes sold firm at an average of 99% of asking price
- It took an average of 21 days on the market to sell firm
- Average sale price in Acton - $689,591
- Lowest sale price - $430,000
- Highest sale price - $1,000,000
A growing trend I’ve noted in real estate is that buyers have started refusing to intentionally compete for a home when an offer date is set. In some circumstances the offer date will pass and a buyer will show up the day after with an offer – just to avoid competing. Sometimes this works out, sometimes the seller decides to re-list at a higher price. I truly think that we are in between waves in the market and it can be really tough to navigate, relying on an experienced Real Estate Salesperson or Broker to guide you through the process is in your best interests.
AS ORIGINALLY PUBLISHED ON ACTONUP.CA
The Reality of Realty in a Pandemic Part XVI – A More Balanced Market for Buyers
We are now through the half way point of 2021. June is typically the ending month of the annual Spring Market and June was no different this year. Throughout the month, the market saw some softening in specific areas, while others remained strong. Rural Residential Sales seem to have remained strong while Urban Residential Sales have balanced off and are not getting the same number showings or offers.
Half way into 2021, Acton’s real estate market still showed a strong increase of 23% over the same timeframe in 2020 with a 34% increase in the number of sales with 110 sales – year to date.
With the number of sales down 50% from May to June, here are Acton specific statistics to consider for the period of June, 1 – June 30, 2021;
- 11 homes sold firm at an average of 108% of asking price.
- It took an average of 11 days on the market to sell firm.
- Average sale price in Acton - $803,504
- Lowest sale price - $580,000
- Highest sale price - $957,500
Contrasting with June 2020;
- 21 homes sold firm at an average of 99% of asking price
- It took an average of 22 days on the market to sell firm
- Average sale price in Acton - $758,310
- Lowest sale price - $520,000
- Highest sale price - $998,000
As the market goes into it’s Summer Months, historically speaking it will soften. This will make things slightly easier for buyers trying to compete for homes where as it will make things a slightly more difficult for sellers. Of the 11 homes that sold in June, only 7 of them went for more than asking. This trend is forcing sellers and selling agents to price homes using a different tactic than earlier in 2021.
As we navigate the Summer Months and head into Fall of 2021, I hope and expect to see some more normalcy and balance in the real estate market.
AS ORIGINALLY PUBLISHED ON ACTONUP.CA
Now that we are well into the Summer months, Acton’s real estate market still shows a strong increase of 25% over the same timeframe in 2020 with a 24% increase in the number of sales with 131 sales – year to date.
With the number of sales stabilizing from June to July, here are Acton specific statistics to consider for the period of July, 1 – July 31, 2021;
- 18 homes sold firm at an average of 107% of asking price.
- It took an average of 8 days on the market to sell firm.
- Average sale price in Acton - $813,544
- Lowest sale price - $429,000
- Highest sale price - $1,300,000
Contrasting with July 2020;
- 24 homes sold firm at an average of 102% of asking price
- It took an average of 20 days on the market to sell firm
- Average sale price in Acton - $683,833
- Lowest sale price - $520,000
- Highest sale price - $998,000
So, what does all of this mean, and how can we look deeper into these numbers? While analyzing the tactics used by Sellers and Selling Realtors, I’ve noticed that when a listing is ‘holding off offers’ it isn’t working as frequently as it once was. There was a 30% failure rate with this tactic in July. What this means to you as a Seller, is that the list price needs to be closer to Market Value and that the tactic of ‘holding off offers’ isn’t popular with buyers anymore, almost creating a backlash. 12% of the sales in July went a different route, listing closer to Market Value, not holding off offers and got asking price or in some cases more than asking anyway!!
AS ORIGINALLY PUBLISHED ON ACTONUP.CA
The Reality of Realty in a Pandemic Part XVII - Selling Tactics show a Change in Tides
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