Monthly Market Update: July 2021
Faris Team CEO and Broker, Mark Faris, says that home sales were down this July compared to last, but this time last summer the market surged after restrictions began to lift. Average home prices are up once again, which indicates that any homes on the market are still in hot demand.
Find out exactly how the market performed across Simcoe County in July.
3 Market Trends in July 2021:
1. Home sales are down
- With not enough inventory on the market, there’s been a dip in home sales across all markets.
2. Home values are stronger than ever
- Sale prices in July were up significantly across all markets, averaging between $770-$850k, and taking just 16-20 days on average to sell firm.
3. New inventory is still needed
- Sellers can still expect to sell fast and for top dollar this summer.
Want to know what this means for you as you consider buying or selling a home? We’re here to make your experience stress-free.
There’s absolutely NO OBLIGATION. Consultations with our team of experts are FREE.
While the information contained in this site has been presented with all due care, Faris Team assumes no responsibility or liability for any errors or omissions.