Strength in the fall market - The Reality of Realty in a pandemic Part VII
- Sarah Brophy
- Oct 13, 2020
- 2 min read
The housing market in September continued to see surging sale prices and incredibly low mortgage rates. The fall market for real estate usually begins two weeks after the kids go back to school and families are back into a routine. This year has been unlike any other for school as well as for real estate where we saw no defined end of the summer market and beginning of the fall market.
In September, Acton saw a 19.8 percent increase in the average sale price of a home over the same month last year making the average sale price $665,819.00 with an average of seven days on the market to sell.
Here are the Acton specific statistics to consider for the period of September, 1 – September, 30, 2020;
16 homes sold firm at an average of 104 percent of asking price
11 of the 16 sales sold for over asking
7 average days on market to sell
Contrasting with September 2019;
18 homes sold firm
Average sale price in Acton - $555,722.00
21 average days on market to sell
Looking at a snapshot of real estate in 2020; Acton has seen 134 firm sales which is a 6 percent decrease in the number of homes sold at this time last year. Market value this year has risen 17 percent from last year to an average sale price of $695,113.00. Halton Hills has quickly become a safe haven for people wanting to escape the city and the restrictions that come along with living through COVID-19 in regions such as Toronto and Peel. There is a strong want and need for land, and space for families to call home, which naturally brings them to the more rural areas just outside of major cities. As this migration from the city happens, I find people selling here are looking to go North into cottage country. Although there seemed to be a slight seasonal slow at the end of August into the beginning of September, the market held strong. With a strong real estate market, we will see that this supports other parts of the economy, such as banking, general contracting as well as licensed trades.
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