We are mid way into our summer here in Parry Sound and I get asked constantly: "What is the market doing?" Without getting into percentages and data on sales volume and dollar amounts, here is a quick summary of what the Parry Sound real estate market is doing now.

For the last few years, the Parry Sound market has been quite consistent.  We have had a lot (too many) properties listed giving Buyers lots to choose from.  From a Seller perspective, this is not a great situation. The tendency was for properties to sit on the market longer.  This is where pricing is so important.  The properties that were the best value (priced right) were getting sold.  To make a property more appealing to Buyers, Sellers would often lower their listing price. 

2016 - Things have clanged dramatically.  So far this year we have seen far fewer listings and a significant increase in sales in both sales volume and dollar amounts sold this year so far.  There is less to choose from, but Buyers are buying like crazy! This is great for Sellers.  With Buyers anxiously searching for properties, Sellers on the market have a better chance of their property selling this year.  (For Sellers not yet on the market - you should be! call me!) The general trend right now for the Parry Sound Muskoka area is towards a Seller's market.  At this early stage I'm not seeing listing prices increasing for the most part, but that will be part of the equation if we continue towards a Seller's market.  For Buyers, this is also a good time to be looking for a property.  (Sounds contradictory.. right?) We are at the point where prices may start increasing, but we aren't fully there yet.  If I were Buying, I would buy now!  The Buyer does need to make some adjustment in how they approach the market now.  That property that you loved and waiting to think about it for a week or two is likely sold now to another Buyer who also realized it was a great property.  As a Buyer, be mentally prepared to take action if you do find the property that is  good fit for you.  In summary, the Parry Sound market is very healthy and things are selling!

Whether you are a Buyer or Seller, I can help you take advantage of our changing market.