The Average Selling Price in Orangeville increased from $246,143 in 2005 to $285,809 in December 2008 (see below chart), this is a 3.8% increase per year over the 4-year period.
Since and during the stock markets and world economy shakedown in November and December 2008, we are experiencing fewer sales and declining prices. As of January 31st, 2009 we have experienced 30% fewer sales than January 2008. There were 87 listings in Orangeville during January 2008 and as of January 31st there were 186. This is a 113% increase. Right now Buyers are very cautious and the properties that are selling are where the Sellers are realistic and motivated. There is presently a 6.6 month supply of homes on the market given current sales, making it a Buyers market.
With interest rates at an all time low*, and plenty of well-priced properties with motivated sellers, it's an excellent time to buy a new home or upgrade to a larger one.
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