Bidding wars, bully offers and properties selling for tens of thousands of dollars over asking price were the “norm” throughout 2021.
In 2021, the number of residential real estate sales in Tillsonburg decreased slightly to 406 units from 411 the year prior, while the average sale price increased 30.8% to $576,405 from $440,456 in 2020 and $360,963 in 2019.
In 2021, homes sold over 60% faster than only a year ago, decreasing from 47 days on market in 2020 to a mere 17 days in 2021.
The sales price of a home divided by the last list price, described as a percentage, is referred to as the list-to-sell ratio (or list/sell ratio). If the list-to-sell ratio is above 100%, the home sold for more than the list price. If it’s less than 100%, the home sold for less than the list price. In 2021, the average ratio was 106.51%.
For specific real estate information about your Tillsonburg neighbourhood, contact any of our Erie’s Edge REALTORS® by clicking here.
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