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Condos and Crystal Balls

Posted by Sherry Rioux on November 14, 2017
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Wouldn’t we all LOVE to have a crystal ball to predict the future?crystal ball

As recently as three years ago, some of the popular 2 bedroom / 2 bath condominium units at Cranberry Village in Collingwood could be purchased for a mere $105,000.  Fast forward to October 2017, and one of these under-800 sq.ft. units just sold for MORE THAN DOUBLE that price.

By the numbers, it looks like this:

For the period October 2014 to September 2015
19 Sales, with an average sale price of $119,975.
Lowest sale price was $105,000; highest sale price was $127,000.

For the period October 2015 to September 2016
15 Sales, with an average sale price of $138,833.
Lowest sale price was $120,000; highest sale price was $175,000.

For the period October 2016 to September 2017
17 Sales, with an average sale price of $209,886.
Lowest sale price was $185,000; highest sale price was $225,250.

The meteoric rise in these prices confirms that Collingwood and Southern Georgian Bay is a great place to invest.   In just this one small segment of our market, a buyer from February 2015 could have realized a significant increase in equity in the ensuing years.

 

Note: All statistics obtained from the Southern Georgian Bay Association of REALTORS® Real Estate Board.

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