Caledon Homes for Sale – Real Estate

Caledon Homes for Sale Continued..

As you might expect, this trend continued on in much the same manner for the intervening years from 2003 to the present day. There were, however, some distinct moments when the price did change drastically, and much of this aligned with national and even global world events. For instance, one of the bigger changes came in 2016-2017, which saw a sharp and sustained increase in house prices across the board. At the start of 2016, a detached home in Caledon was selling for an average of $699k. By the end of 2017, it was around $937.

This is a huge shift, but – as is often the case – it was to precipitate a slight downturn afterward as the market in Caledon and elsewhere started to redress the balance. There was the crash then that followed, and in that time the cost of a detached property in Caledon could be expected to fall to around $879k by the middle of 2018. However, that is still a pretty strong price, and it was nowhere near the low price before the 2016-2017 rise, so the health of the market clearly maintained pretty well.

Since 2018, the market in Caledon has been steadily rising still, and as of yet there have been no other crashes in the same guise as 2016-2017.

Where the Caledon Real Estate Market is Going

In mid-2018, you could expect to pay $881k for a detached house, and $697k for a condominium, with townhouses being around $650k. But today, if you are keen to buy a detached house, you can expect to pay, on average, just over a million dollars for it. That million mark was only hit this year, but there is no reason to suppose that it is going to go down again any time soon. Similarly, if you want to buy a condominium right now in Caledon, the average cost is going to be $819k. For a condo townhouse, it’s $798k. For a freehold townhouse, you are looking at a price of around $745k on average.

In other words, buying a property in Caledon today means a rise of 9.69% on the same time last year, to the tune of an average of around +$74k. Or in other words, around 118% more than ten years ago. This is pretty much in line with the national average.

So, that’s what the real estate market is looking like right now in Caledon, Ontario. But what can we expect for the future, and what kinds of projections are looking most likely right now? The big event of the year has obviously been covid-19, which has affected housing markets all over the world in some interesting ways. In essence, you can expect houses in Caledon to rise in prices by a sharp increase, perhaps even more than in the past few years. If it is going to be anything like the national average – which it does tend to be – this could even mean around an 11% increase on an average house price across the board.

There are still many things that might affect this one way or the other. But one thing is for sure: with Caledon being such a beautiful and sought-after place to live, you can expect the market to remain pretty much healthy for the time being, regardless.