Bowmanville home prices surge due to lack of inventory
JANUARY 2022 MARKET UPDATE
Durham region and Clarington
Demand has remained strong in January while listings in Bowmanville remained in short supply, resulting in strong year-over-year growth.
I am sure you are thinking like I am, where can I invest to get the highest return on my investment.
Where else can you invest to get a return of over 30% year-over-year. Due to the growth in population and lack of new inventory the prediction is an increase in home prices till 2024.
Due to the strict policies by different levels of Government on new developments there is a short supply of new homes to meet the demand. Ontario needs 1.5 million homes. Which experts predict may not balance till 2024 or later. Hence a rise in home value.
Durham Region has seen the highest surge and if you are thinking of buying then you may want to consider Durham Region.
If you are thinking of Selling or Buying then contact me to buy in areas with the highest Return on Investment.
I’ll be happy to help…
- Detached homes up 36% with 15% drop in sales and 26% drop in active listings
- Townhouses up 30% with 6% rise in sales and 63% drop in active listings
- Condos up 6% with 14% drop in sales and 20% increase in active listings
Durham Region year-over-year:
- Detached homes up 35% with 6% drop in sales and 19% drop in active listings
- Townhouses up 37% with 13% rise in sales and 28% drop in active listings
- Condos up 32% with 6% rise in sales and 26% drop in active listings