The Reality of Realty in a Pandemic Part XIV

April brought us into a third wave of COVID-19 as well as a third Lockdown in Ontario with a Stay at Home Order mid-way through the month. Some sections of the market felt an immediate halt in activity. Even with less buyers in the marketplace, prices held strong on average.

In most cases, homes were still using the tactic of listing competitively and setting an offer review date. Most homes did sell on that date but some didn’t. These homes usually received offers shortly after the offer date or relisted at a different price and sold shortly thereafter. There are five homes that did still remain on the market in Acton at the end of April with an average of more than two weeks on the market.

Four full months into 2021 Acton’s real estate market showed an increase of 29 percent over the same timeframe in 2020 with a 60 percent increase in the number of sales.

Here are Acton specific statistics to consider for the period of April, 1 – April 30, 2021;

29 homes sold firm at an average of 108 percent of asking price. It took an average of eight days on the market to sell firm. Average sale price in Acton - $855,483 Lowest sale price - $432,000 Highest sale price - $1,300,000

Contrasting with April 2020;

12 homes sold firm at an average of 98 percent of asking price It took an average of 23 days on the market to sell firm Average sale price in Acton - $669,750 Lowest sale price - $420,000 Highest sale price - $916,000

One thing I have noted in the area is that only about half of the listings in Acton are listed with a local Realtor®

Some things to take into consideration when choosing your Realtor® and what makes the choice of a local Realtor® a good choice are noted here. A local Realtor® knows the area like the back of their hands; they pride themselves on this and are probably also your neighbours. They know the answers about schools, parks, shopping or that weird / smelly building around the corner. A local Realtor® gives back to your community, they support the sports teams that your kids play on and are always supporting the community events that you enjoy. You’d be surprised when they know things about your home or your neighbourhood that you didn’t even know about. They intimately know the other listings that have sold and they keep their finger on the pulse of the market while studying current trends. I encourage you to make informed decisions when choosing your next Realtor®

Sarah Brophy-Platts Owner & Broker Royal LePage Escarpment Mobile 905.699.3687