Peerage Realty was delighted by the strong June 2020 market report from its Partners at Chestnut Park. In part, the results from both the Greater Toronto Area (GTA) and the Collingwood/Georgian Bay region reflect a fundamental imbalance in supply and demand. Across all markets, inventories have been exceptionally tight across Ontario since the COVID-19 pandemic began and that’s been slow to change.
But more critically, Chestnut Park’s performance reflects the power of the pivot: The firm and its agents were quick to adapt, re-deploying existing technology to amplify virtual tours and other remote means of access to properties and information – all while enforcing strict COVID-19 health and safety protocols.
In the GTA, average sale price was up 12 per cent over the same period a year earlier and the number of new listings was up 2 per cent.
In the Collingwood/Georgian Bay area, meanwhile, prices shot up by 18.5 per cent on a year-over-year basis and there was a 54 per cent increase in the volume of sales.