About Orangeville Real Estate
Part of what makes Orangeville’s housing prices what they are Is that it is such a family-friendly neighborhood. There are some really excellent schools in the area, with high ratings which is what makes it a highly desirable area to live in. And, because families are moving to the area for schools, that means that the economy is doing relatively well in the area which also drives up market pricing. One factor which has helped to keep prices from inflating too much is that this neighborhood is very car-centric. It has a walkability score of 23, meaning that residents need to be prepared to drive to their destination rather than explore the area on foot. Back to jenjewell.ca.
As most real estate agents know, the housing market is determined largely by supply and demand. Orangeville has a fairly “hot” housing market, meaning that there is quite a lot of demand for homes in this area. In fact, it has an 82 Redfin competitiveness score. That means that buyers looking in the area need to be prepared to pay close to the listing price. In recent years, the market prices have been steadily climbing although the total number of homes sold per year has been declining. This is not to say that it will rise again, as the total decline is only hovering at around -3%. If you’re helping someone list or buy a home in the area, it’s important to monitor these changes so that you can help them get the best deal.
The Orangeville Real Estate Market
The Orangeville area is an excellent place for families to settle down because of its proximity to several schools. These schools also have great ratings, making it a superb district to own a home in.
However, because of the family appeal of the area, this space has become quite competitive. The majority of the houses in the neighborhood get multiple offers, and some of those even waive their contingencies. What’s more, most of those homes sell for their listing price and spend about 22 days pending. Homes in the neighborhood that are “hot” can sell for roughly 1% more than the listing price and are only pending for about 12 days.
Prices in the Orangeville housing market have been steadily increasing over the last five years, with prices rising from around $250,000 to resting closer to $275,000 in today’s climate. That number is projected to continue growing over the next few years, so it’s essential to keep that in mind when considering buying or selling in the area. Recent years have, however, also seen a decrease in the total number of homes sold. As of 2020, roughly 131 homes were sold each year, with the average home spending about 22 days on the market. These numbers are down since last year and may continue to decrease, making it a more challenging market for sellers.
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