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REAL ESTATE MARKET SNAPSHOT
2016- A Year in Review
Have you ever thought, “If my neighbour’s house sold for that much, mine is worth much more.”
But how much more is yours worth today?
Have you wondered how much your home might be worth after hearing about all of the multiple offers that took place this year?
You no longer have to wonder, HERE is the information….
Let me take you back to the beginning of 2016, and take a look…
WINTER 2016- FIRST QUARTER – Wow! It’s chilly outside, but the housing prices are keeping me warm.
Housing prices in Bolton increased by 13% since Q1 of 2015.
Housing prices in the rest of the Caledon areas increased by 20%.
BUT, there aren’t enough houses for sale to satisfy the number of Buyers that are looking.
Let’s see if we can find some inventory in the Spring Market….
SPRING 2016- SECOND QUARTER– Oh my Goodness! It’s raining buyers, yet so few houses are for sale!
Bolton homes increased by 16%.
Caledon & Area homes increased by 19%.
Doesn’t anyone want to sell their home?
Let’s head into the Summer market and see if this trend continues….
SUMMER 2016- THIRD QUARTER– Wow! It is HOT!
The housing market is HOT! HOT! HOT!
Bolton home prices increased by 19%
Caledon & Area homes increased by 12%.
Multiple offers are happening on every other home. Can this possibly continue into the Fall market?
FALL 2016- FOURTH QUARTER
FALL- My favourite season. Beautiful colours-Falling leaves.
BUT, the housing prices definitely aren’t falling!
Bolton home prices increased 21%
Caledon & Area home prices increased 17%
There are still so many buyers looking to purchase a home, but there still isn’t enough inventory to satisfy the market. Therefore prices are still being driven higher.
Will this continue throughout 2017?
Let’s have a look…..
Here we are January 2017! HAPPY NEW YEAR!
Let’s take an overall look at 2016 in the Caledon area and then we will shift our focus to the 2017 Real Estate Forecast!!!
Since January 2016 to Dec. 31:
Bolton increased by 21%
and the Caledon areas by 24%
If you would like the FULL YEAR IN REVIEW REPORT,
just CLICK HERE the link in the first comment below or visit my website: www.yourdreamproperty.ca
Now let’s move on to the 2017 Housing Forecast.
Home buying will not get any easier in Toronto and the GTA, as housing prices are expected to rise.
Although housing affordability is decreasing, prices will continue to rise due to lower interest rates, but more importantly, because of the great demand for homes in the GTA and surrounding areas.
REMAX estimates the average sale price for homes will increase by 8% in the Greater Toronto Areas.
What is your plan for 2017?
If you’re thinking of Buying or Selling, 2017 is looking like the year to make your move.
Would you like to know how much your home is worth, so that you can make an informed decision?
I wish you a fabulous 2017! See you next month!