2021 Year End Review – Things Are Looking Up
“Things Are Looking Up”- That was our message on the back of our annual Christmas ornament. It seemed appropriate when we chose the message as we were all moving towards a more “normal” Christmas season. Then came Omicron and reminded us just how volatile we still are to the realities of Covid-19. Despite the sudden changes and restrictions, we hope you and your family made a few more Christmas memories to cherish for years to come.
As 2021 comes to a close, we have been reflecting back on the events of the year and discussing our forecasts for 2022. We also looked back on what we predicted for 2021…
“2021 will continue to see these trends moving forward and we should see modest gains in price of 5 to 6% to the end of the year due mainly to low supply and high demand. As 2021 progresses and Covid-19 vaccinations accelerate, we may see a trend of people who moved out from the urban downtowns to remote countryside living will want to return to a slightly closer proximity to the city. That is where North Durham and Kawartha Lakes are uniquely positioned for those that will only need to get to the office one or two days a week! Easy to do from our areas versus Parry Sound or North Bay!” – Brett Puckrin – January 2021
Needless to say, we were a little off in our predictions.
The 2021 local marketplace not only saw value gains, but record setting price growth: Year over year increase to date for just Scugog alone was a whopping 20%; surrounding areas including the Kawartha Lakes saw anywhere from 20-30% value increases. Right from the onset of January 2021, we saw buyer demand outpace a constant supply of listings with fierce competition in most price ranges and this continues to this day.
As we look forward to 2022, we reached out to some of our team partners for their predictions and thoughts..
Guy Latreille, Broker: “2021 was a very active year in spite of restrictions. 2022, I see us being upbeat into the summer with prices remaining strong as long as the demand for housing is in high demand with short supply. The housing market will continue to be robust.”
Keith Puckrin, Broker: “We came out of 2021 with a strong market and breaking sales records plus dealing with covid restrictions. 2022 appears to continue with a strong active market; however, I think we will see some sort of Provincial government policies coming into effect in 2022. For example: A flip tax within a short period, tax on non- resident buyers and some sort of sharing Buyer/Agent info when multiple offers are happening. Housing and agricultural land will continue to be in short supply through 2022 and prices in both categories will continue to rise moderately in 2022.”
Brett Puckrin, AACI, P.App, Sales Representative: “Going into 2022, we should see a continuation of a Seller’s market with buyer demand still outpacing listing supply, a more moderate price growth of just under 10% and a cooling off as the year progresses with a rise in interest rates to come as early as March/April 2022. We still predict a return of the exodus of people moving back closer to the proximity of the city albeit at a slower pace as the pandemic lingers.”
Dianne Hooker, Sales Representative: “Who could have predicted the unimaginable record breaking real estate sale prices we have experienced in 2021? As we approach 2022, I think all indications suggest another stellar year of property sale prices because of interest rates continuing to be at historical lows; we live in one of the most desired parts of the world and the economy remains quite stable despite the pandemic. I predict real estate prices are going to continue to gradually increase until interest rates rise and the government implements new policies. Looking optimistically to 2022.”
As we move forward into 2022, we are going to say Goodbye to 2021 with a message from Lynda Sauder: “In with the NEW and out with the OLD”, that’s what I say.
Stay Strong, continue to support one another, dream big and never lose sight of what’s important. Here’s to 2022!!!”
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