If you’re like me, you’re excited and yet reserved about the year ahead. After all, the last couple of years have been challenging for many and unpredictable and yet many have flourished because of the pandemic. This month, January, is the beginning and if you plan, you can set your tone for success in whatever you endeavour this year.
In 2020 the word that set the tone for the year was Covid…most used word of the year. In the Real Estate industry it was “Pivot” – change the way you do business. Little did we know the Real Estate Market would light on Fire! January 2020 stated off with an average sale price of $500,000 in Simcoe County and ended 2020 with an average sale price of $697,000.
In 2021 the most used word of the year was Vaccine. No surprise. It was a massive effort and I think Canada has faired very well with numbers fully vaccinated. I hope you have a wonderful year ahead and stay healthy. In Real Estate, Demand continued to out pace Supply and we have seen unbelievable growth in Values. January 2021 started off with an average sale price of $697,000 in Simcoe County and ended December 2021 in Simcoe County with an average sale price of $872,000
So what will be the buzz word for 2022 as we endure this 5th wave of the pandemic and closures are being implemented across the country? My word for 2022 is Grace. Learn to let go.Be kind to yourself as well as others, Be mindful..that’s a big one. Mindful that we are all experiencing this together however, we are not all experiencing it the same way. Many are not doing well, while others flourish.
2022 is predicted to be another great year to sell and invest in real estate. Prices are predicted to grow overall in the country by 9% over the course of the year, this being lower that previous 2 years. Demand is still out pacing supply and is the #1 pain point for the exponential growth. Interest rates are predicted to increase in 2022 by at least .5 and this may affect a few buyers borrowing power and the cost of borrowing in general.
If you are considering a move or would like to explore what equity you have to reinvest in the market I am here to help. Honest experienced advise.
Have a wonderful January