Halloween isn’t the only scary part of October…the housing market is sending shivers down buyer’s spines as supply remains low and prices increase. Multiple offers are a daily occurrence in our area now. Home sales for Sept 2016 are up 3.9% over the same period in 2015. This was another record setting month.
In the Western Region of the Southern Georgian Bay (which is the Collingwood/Wasaga/Blue Mountains/Meaford area), we are up 17.3% for the year to date over last year.
Typically, the market tends to slow down as we head toward the end of the year, but the Rioux Baker Real Estate Team at Clairwood Real Estate has not noticed this yet. Supply of properties remains at the lowest levels in more than a decade and the value of all residential transactions in September hit $119 million, the highest September on record!
And things may get scarier yet as the Federal Government announced mortgage rule changes that take affect October 17, 2016! Check out details below on that ghastly news!