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How is the real estate market?

www.KawarthaRealEstate.ForSale - Market Watch

By looking at the past two years in this chart, our average listing price went up by 14.32% in 2017. This was most noticeable in the first quarter where the average list price went over $450,000 in March. It looked like the sky was the limit for the summer, but as I recall, the government announced some new mortgage rules around that time along with an extended cooling down period. Oddly enough the previous year took a dip in March to less than $315,000 which was mostly due to a bout of late winter weather.

It is hard to predict the future of list pricing when there are so many external influences at play. All things considered, we are starting to adjust to the new mortgage rules and we will likely see another decent growth year with some increased stability throughout the summer and into fall months, and with less of a downturn toward the years end.

All the factors are very positive for the local real estate market in the Kawarthas. Our demographics are grouped into many different categories. If we take beautiful Bobcaygeon and its surrounding area for example, it is predominately made up of middle aged and retired families living in residential properties including waterfront. Once the busy summer recreational property owners and tourist property users arrive, we get a much broader spectrum of the overall buying pool. Buyers from the GTA are still migrating to all our communities. We find supply and demand to be well balanced which generally provides for a very stable real estate economy.

For Buyers, it appears that the late fall and early winter months would be your best bet for value. For Sellers, it would be better to list your property starting very early in the spring in order to try and get the optimum price. If you are not quite ready, the balance of the summer and fall are still great times to begin selling real estate in Kawartha Lakes and Trent Lakes.

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