Wouldn’t we all LOVE to have a crystal ball to predict the future?
As recently as three years ago, some of the popular 2 bedroom / 2 bath condominium units at Cranberry Village in Collingwood could be purchased for a mere $105,000. Fast forward to October 2017, and one of these under-800 sq.ft. units just sold for MORE THAN DOUBLE that price.
By the numbers, it looks like this:
For the period October 2014 to September 2015
19 Sales, with an average sale price of $119,975.
Lowest sale price was $105,000; highest sale price was $127,000.
For the period October 2015 to September 2016
15 Sales, with an average sale price of $138,833.
Lowest sale price was $120,000; highest sale price was $175,000.
For the period October 2016 to September 2017
17 Sales, with an average sale price of $209,886.
Lowest sale price was $185,000; highest sale price was $225,250.
The meteoric rise in these prices confirms that Collingwood and Southern Georgian Bay is a great place to invest. In just this one small segment of our market, a buyer from February 2015 could have realized a significant increase in equity in the ensuing years.
Note: All statistics obtained from the Southern Georgian Bay Association of REALTORS® Real Estate Board.