top of page
SBP CB banner .jpg

Fall market not falling - The reality of realty in a pandemic Part VIII

October is the spookiest of months - and October’s real estate landscape was spooky in it’s own right. With some of the Greater Toronto Area (GTA) being sent back to modified stage two restrictions to help ease the spread of COVID-19, there was a slight slowing of the market. In the rural suburbs of the GTA, 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 percent over the same month last year, and year to date home prices are up by 17 percent 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 percent 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 percent 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 and 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.



Comments


bottom of page