APRIL 10, 2019
With the ongoing shortage of inventory and continued growth across the Western Region resulting from many Buyers leaving the Greater Golden Horseshoe (GGH) to find more affordable housing choices, its not surprising that the average sale price for the Region rose 11% from March 2018. As prices in Collingwood and The Blue Mountains continued to rise, some Buyers were forced to look further afield for affordable housing, resulting in a rise in average sale price in the surrounding towns year over year. New listings were up slightly, marking a 3.5% increase over last year with 295 residential properties coming to market in March 2019 vs 285 last March.
Active listings were up 16.3% year over year with 579 properties available in March 2019 vs 498 in March 2018. Likely due in part to more aggressively priced homes creating unaffordability for many buyers, sales were down 9.3% year over year with 146 sales reported in March 2019 compared to 161 last March. Market conditions in the Western Region remain stable however affordability for many will be the ongoing concern.