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Kearney Market Update 2017 North Muskoka Real Estate
- 1. Kearney Market Update North Muskoka Real Estate Ltd-705-783-9366 2017 www.northmuskoka-realestate.com
- 5. www.northmuskoka-realestate.com During the year to December 31st, 2017, the market experienced an extreme shortage of listings with only 69 new waterfront residential properties & 52 sales resulting in a sale to list ratio of 75.36%. In 2016 there were a total of 92 new properties listed & 65 sales with a sales to list ratio of 70.65%. Both 2017 & 2016 indicated a Sellers Market. In a seller’s market, there are fewer available properties for sale to a larger pool of buyers with the majority relocating from the Golden Triangle area of Ontario. The advantage goes to the seller in a seller’s market – typically home prices will rise as buyers are quick to make an offer to secure the property; sometimes buyers will compete for a property, driving the price above expectations. This was experienced in the Spring of 2017 because of the inflated market in the GTA. Breakdown of sales are: Under $300k 16 15 2 beds $301k to $400k 9 23 3 beds $401k to $500k 10 14 4+ beds $501k to $600K 5 $601k to $700k 5 $701k to $800k 2 $801k to $900k 3 $901k to $1m 1 $1.3m to $1.4m 1
- 11. www.northmuskoka-realestate.com During the year to December 31st, 2017, the market experienced an extreme shortage of listings with only 58 new non-waterfront residential properties & 41 sales resulting in a sale to list ratio of 70.69%. In 2016 there were a total of 71 new properties listed & 57 sales with a sales to list ratio of 80.28%. Both 2017 & 2016 indicated a Sellers Market. In a seller’s market, there are fewer available properties for sale to a larger pool of buyers with the majority relocating from the Golden Triangle area of Ontario. The advantage goes to the seller in a seller’s market – typically home prices will rise as buyers are quick to make an offer to secure the property; sometimes buyers will compete for a property, driving the price above expectations. This was experienced in the Spring of 2017 because of the inflated market in the GTA. Breakdown of sales are: Under $300k 15 11 2 beds $301k to $400k 4 11 3 beds $401k to $500k 5 6 4+ beds $501k to $600K 1 $601k to $700k 2 $801k to $900k 1