Not Enough New Listings to Keep Up with Buyer Demand
Local real estate sales are starting to climb following a free fall after Ontario declared a state of emergency in the face of COVID-19.
Buying
Signs of Optimism in Local Real Estate Market
During the first week of April, Norfolk’s real estate sales hit bottom and have since started to rebound.
What’s Happening in the Real Estate Market?
Real estate sales are on a downward spiral just as the spring market was revving up. There were 13 firm sales reported on the local MLS® for all of Norfolk County for the week of March 23 to March 29. The following week, March 30 to April 5, only reported three sales. That’s a decrease of 77%.
How’s the Norfolk Real Estate Market Performing During a Province Wide State of Emergency
Residential sales reported on the local Multiple Listing Service (MLS®) were headed way up in March of this year compared to the same time a year ago
It’s Not Business as Usual at Erie’s Edge
During this time of uncertainty we will make use of technology like video conference calls, virtual tours, floor plans, “sight unseen” conditions in offers and the use of electronic signatures to complete those transactions remotely to support social distancing
Open Houses Cancelled
We will be respecting the government’s recommendations in terms of social distancing and will not be hosting any open houses until further notice.
Our Commitment To Protect the Health and Safety of our Clients, REALTORS®, Staff and Neighbourhoods
We are committed to our obligation to protect the health and safety of our clients, REALTORS®, staff and neighbourhoods. To serve our clients, we will operate our real estate services remotely.
Bidding Wars Are the New Norm
Gone are the days of low ball offers and weeks of negotiating. Today it’s about multiple offers (aka bidding wars), over market purchase prices and firm deals in just hours.
2018 Norfolk County Real Estate Market Update
A decrease in sales in 2018 led to a more balanced market in Norfolk County. Bidding wars and over asking prices were not out of the picture, though not as prevalent as 2017.
What if you don’t agree with your Property Assessment Report?
Here’s what Ontario residents can do if they do not agree with their MAPC assessment reports.