This April’s market insight is dedicated to “the spring market…”
For months, I have had clients wanting to wait for “the spring market”, which is totally understandable because typically it is the prime time to buy or sell, especially in cottage country. As we know, no one has a crystal ball but I think that in this industry we have been involved in the so-called “spring market” since January. Now that the seasons have changed and buds are blooming on the trees, we can safely say that the market is still holding strong with a few minor shifts mentioned below…
April’s stats show an increase in new listings and of course unit sales compared to March 2021. Average sale prices all around are remaining steady with the last couple of months. No major changes yet.
Last month’s Highlight: The number of new listings for all of Muskoka & Parry Sound was 828 for April alone, the highest statistic of new listings since this pandemic began. Historically, June is the month with the most new listings, if that continues to be the case, supply should help meet the pent-up demand of buyers and taper off into a more balanced market for the fall. Not to forget that we’re still operating on only 2 months of inventory, a quarter of last April’s 8 month supply. Our market still has a ways to go but with signs of increased inventory, there is a light at the end of the tunnel for those buyers who are feeling fatigued or discouraged.