Buyers : Pick Your Poison

There is a downward trend in home prices in Simcoe County. For example the average price of a home in Simcoe on July 16, 2023 was approx. $917,654* and now 4 weeks later we are down 80k’ish

The average home price as of last night was $836,792* … this is about an 8% decrease in price since last month.

To lay it out a little differently - if last month you were looking at spending $900,000, now for the same home, you could be spending $828,000

As interest rates rise, home prices will fall.

When interest rates start to fall, home prices will rise again.

Remember, if you are holding off to get lower rates - you may have more competition, meaning having to bid more aggressively to secure the home. You will more than likely have less ‘think time’ as generally the speed of the market picks up as more buyers enter the market.

I believe the best plan for any Buyer or Seller, is to stay informed and to make smart, educated decisions. Position yourself to seize opportunity at any time that feels good for you and your unique situation.

“The way I see it, if you want the rainbow, you gotta put up with the rain.” - Dolly Parton

Reach out any time - I am happy to discuss your local niche in Simcoe and help you evaluate whether or not the time is right for you

Sending High Fives

M

*Data collected through TRREB believed to be True & Correct