Wow, what a year 2020 was! I’m tired of hearing the cliché that 2020 was a little “different”, but it sure was. The real estate market started out quite strongly and early in January and February, as nobody saw what we were in store for. Sales were rolling along nicely, and the inventory was at a healthy level across the Headwaters.

Then mid-March….we went into lockdown. This ground the real estate market to a halt. Many Sellers took their homes off the market, except for Sellers who needed to sell, and the only Buyers out there were ones that most likely had sold, and needed a place to live. Very few new listings came onto the market, and showings on listings were few and far between. Strict protocols were introduced to office spaces, meeting with clients, dealing with showings, and open houses were banned. Once the first wave started to look better, the weather started getting nicer, and the public were getting used to the new reality we were in, the real estate market exploded in June. The backlog of people who waited during lockdown and were ready to list, and buyers who also waited to buy, created a huge pent up demand for homes, and boy oh boy, did it ever change the market.

Many people from densely populated areas like the golden horseshoe wanted out of the city. Many people with office jobs were now able to work from home, so being close to an office tower was not a necessity. Even people from the Headwaters area ended up selling and moving to the country, or further north. In lockdown, the public saw the importance of having a private back yard, as we knew that “Staycations” were inevitable this summer. Pools became a hot commodity for homebuyers. With many travel plans cancelled, limited attractions to visit, concerts and sports events cancelled, and new protocols for restaurants, the homeowners all of a sudden saw an increase in savings and disposable income. Many people started spending money on home improvements, installing pools, adding additions, or Selling and purchasing a larger home for their families. The trades all of a sudden became insanely busy.

The lack of inventory in the Headwaters, and the demand for homes in our area started pushing prices up quite quickly. Many buyers from the GTA, coming from a very competitive market, were not opposed to offer substantially over list price in multiple offer scenarios, which were happening more than I’ve ever seen in the past. Also, because of the demand, when a residential listing came onto the market, it sold, so the inventory really didn’t rise to a healthy level. It was a tough year for Buyers, and Sellers were in the driver’s seat. We saw this trend right until the end of December.

The number of homes listed in Orangeville during 2020 were down almost 14% compared to 2019, and average sale price in Orangeville in 2020 was up 13.6% compared to the previous year. Average list price to sale price ratio was 101% in 2020 so most sellers received full list price or higher.

Dufferin county including Shelburne also saw some interesting figures. The amount of sales were up 23.5% compared to 2019, and average sale price was up 21%! Following this trend was Caledon with sales up 28% and average sale price up 18.3%. Same with Wellington County with sales up 29% and average sale price up 16.65%. Clearly, it was a banner year in the Headwaters area despite the pandemic situation, which shows the interest in buyers to move to our amazing area…here in the Headwaters.

But all in all, I saw some positive come out of 2020. I saw more people out walking, being outdoors, and spending more time with their family. People developed new skills, became better home chefs, got more creative with their time, learned to bake bread, perhaps picked up an instrument and started to play, and many people picked up the game of golf. I think that people also saw the importance of friends, family and loved ones that they were not able to see during the lockdown. I know it was a difficult year, and we’re not through it yet, but if we keep positive and know that this pandemic will eventually end, we can look forward to travelling again, seeing your favorite sporting events, attending that concert, and enjoying these things we took for granted in the past. It will happen!!!

I wish everyone all the best in 2021. Stay Safe, Stay Strong, and Stay Positive!!! - Dave