Here is a summary of some of the data for Norfolk County:
Average Sale Price: $764,267
Number of Homes Sold: 106
Number of Days on Market: 16
The Market has Changed – by the end of the second week of May – Buyers did not want to go into a Bidding War on the home. They waited until the date passed – then went to look at the property and put an offer in.
The Housing Market has shifted – We are seeing – no offer dates on listings, but a 24-48 hour irrevocable.
When offers come in they have Conditions – Finance, Home Inspection. Also, we are seeing price reductions on properties too.
June 1 – it was announced that the prime Lending rate is going up
Fixed rates ranging from 3.74% – 4.64%
Variable rates ranging from Prime (3.7%) – 1.1% to 0.50%
*Rates are dependent on LTV, credit score, refi vs purchase etc.*
Disclaimer: This information provided herein is deemed accurate but not guaranteed.
Source: Simcoe & District Real Estate Board, ITSO MLS SYSTEM
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