Good sunny afternoon,
It has been a slow pace crawl from the craziness of the first 4.5 months of 2017. It is quite interesting to watch the activity from a week to week basis, and it does reveal the little changes that are not so noticeable when we review things on a monthly basis.
Prices are still adjusting downward and coming in line with what buyers are looking for. Sellers are seeing the changes and making the necessary decisions that are best for them and their situations. Sale prices are at, or very near, current asking prices which shows the market stabalizing over the whole Georgina area.
New listings are still coming out, prices of which are appearing realistic to these market changes. There are approximately 363 active listings in Georgina which is still a substantial amount of inventor, however, the Keswick area's median sale price is $700,000 and the median list prices of the current active listings are around $650,000. This shows that prices have adjusted well and the market's horizons are appealing.
On a secondary note, the public should not look at the doom of our market...it is no where near that. In reviewing July 2016 sales in the whole Georgina area...median sale prices were at $482,000, averaging 22 days on the market and sellers were getting 99% of asking. July 2017 MTD numbers for the whole of Georgina shows prices are still up 18% over 2016 with its overall median sales price at $568,000, 40 days on the market and getting 97% of asking.
So we are getting there, getting to a market that both buyer and seller can be treated fairly and feel good about their next purchase or sale.
Enjoy your week.