Campbellville & Surrounding Area Summer Property Report

            With temperatures dropping and leaves changing, the Fall real estate market is upon us. This Summer has proven to be yet another record season for home sales, and a few things can be taken from what we see in listings over the last few months to inform us for the upcoming fall market.

            Firstly, let’s talk Sale price. We have seen an average** of 34.6% increase in the area compared to last summer’s season, which is on track with the year-to-year growth that has been seen in the area over the last two years. With a trend of more people trying to move into rural areas now that more people are required to commute less often, more competition has been seen, raising the price in which the property sells at.

            Despite the increase in list price, there has been a jump in completed transactions in Campbellvile, Brookville, Nassagaweya and Moffat compared to last year. We have seen 65% more homes sold, meaning there should be more available inventory for buyers to choose from, yet the demand for properties in the area has not only risen to match, but has surpassed availability, seen by the average-days-on-market at only 6 days! In comparison to last year, this shows that properties are now typcally selling 3.5x faster; a clear indication of the increase in pace that homeowners have been experiencing due to the rise in competition. 

            Somewhat surprisingly, when looking at the difference between what homes have been listed for and their selling price, we have seen growth of 7% on average year-to-year. Since properties have been consistently selling for just over asking this puts the median at %104 of list price. This is indicating the willingness of buyers to make offers over-asking, despite the increase in average** listing price, in an attempt to make their offers as attractive as possible in a competitive market.

            Overall, the area has seen in the span of only a year, a considerable jump in price of properties that continue to sell just above that point in a very short time frame. Those looking to purchase in the area may expect to pay slightly over asking, and due to the increase in competition, may have to make some quick moves at times.  Sellers will likely see a continuation of the increase in average sale price for as long as there is competition for properties in this area.

In short, this summer has been a hot one for the real estate market in Campbellville and the surrounding area, and from the indicators in the data, it is likely to continue throughout the fall season also!

If you have any questions/comments or concerns, feel free to reach out!

Peter McGrath

Real Estate Sales Representative 

Royal LePage Escarpment Realty 

905-691-0552

*All data provided through TREB

Based on sales (6/1/2020 - 9/1/2020 and 6/1/2021 – 9/1/2021)

** Median values used in all calculations