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JANUARY 2022 WATERFRONT PROPERTY STATS
It’s been a record setting year in 2021. The average sale price of a fully detached waterfront home with direct water access in Central Ontario increased by a whopping 29% over 2020. And there is no indication that will change much in 2022. Interest rates will creep up but that’s expected to just slow the market. The biggest issue driving up prices is lack of inventory and the steady stream of buyers. We have a housing crisis, with no real solutions in sight and that now includes waterfront properties. Another observation I’ve made, it’s the low end of the market that’s driving up prices. What you bought for $1,000,000 in 2021 was far less the quality of what you could buy for the same amount in 2020. Buyers are just trying to get into the market before they can’t afford it at all. So my best advice is buy now. Come spring it’s apparent prices will simply be higher and you’ll be in more completion. Give me a call 705-716-0105 and let's see how best I can help you. Below are my January stats which now include the Peterborough area.
The average list price of a fully detached waterfront home with direct water access in Central Ontario for January 2022 was $2,423,590. The average list price of properties that sold that month was $1,502,962 with an average sale price of $1,541,000. That’s up $143,789 from the previous month with an average sale price of 104% of the full asking price. The average original list price for these sold properties was $1,502,962, days on market were 27 and taxes were $5,251. Statistic calculated through TRREB.