Caledon housing market booming, rebounds from COVID-19 slump

July 16, 2020 · 0 Comments

Written By ALYSSA PARKHILL

A couple months ago, real estate agents in Caledon were hit with a bump in the road, as the COVD-19 pandemic caused sales to plummet.

Now in the month of July, the market has hit a new high, as the province gradually opens and the community becomes more comfortable with going out into the public. As a result, open houses have become something of a hot commodity in the region.

Jennifer Jewell, real estate representative for Caledon, Shelburne and Orangeville, said that due to the impact of COVID-19, March, April and May were slow because of the unsafe conditions and people being worried about falling ill.

“At the beginning of the quarantine, the number of sales across Ontario, including Caledon, decreased dramatically. Sellers were hesitant to allow buyers through their homes, and buyers were unsure if they would be comfortable viewing homes in-person,” said Jewell. “The industry quickly adapted and developed strict protocols for showings. Policies such as no overlapping showings, health disclosure screening, personal protective equipment and strict sanitization procedures were put in place to ensure the health and safety of homeowners, buyers and their salespeople.”

The uncertainty of the pandemic and the virus, and the limited access to resources was a key factor of the decrease of activity in the early months of the pandemic.

“Early on, transactions were quite limited to buyers and sellers who had an essential need to buy or sell. There were buyers who had sold a home before the pandemic started, who needed to find a home,” said Jewell. “There were sellers who had purchased a home, who needed to sell their home. There was a lot of uncertainty, worldwide really, about what would happen with the economy.”

Compared to last year’s statistics, there were 21 sales in Caledon in April compared to the 107 sales last year, with sales in May way down too – 59 this year, from 106 in May of 2019.

“By June, there was a huge increase in the number of showings and transactions, as buyers who had delayed their purchasing decisions jumped back into the market. There were 123 sales in Caledon in June 2020, versus 110 sales in 2019,” Jewell explained.

Realtor Anthony Caputo states that the market is booming more than ever, as restrictions begin to lift.

“Just as predicted, the pause is over and the market is on fire,” he said. “Everyone’s moving north. They want out. This is the busiest I’ve ever been.”

According to Caputo, those living south of Caledon, especially those living in condos are struggling, mainly because they want to get out of their condos and move up north, but no one wants to buy condos right now. They want houses.

Now that Ontario is gradually reopening the provincial economy, Caputo agrees that residents and individuals should be more comfortable with going to open houses and trying to find their forever home.

“Everyone’s still being a little cautious, which is perfectly understandable, and they should be. They should be, because we’re not out of this yet, but they are more comfortable coming to see homes, and the nice thing is, people are not tire kickers right now,” he said. “Whoever is looking for a house right now and really does want to move, are pulling the trigger really quickly.”

Jennifer Jewell also believes the community and those looking for a home should and can be comfortable right now, especially as safety protocols have been enforced in all areas.

“The real estate industry has adapted very quickly to the ‘new norm’, with safety protocols in place to protect buyers, sellers and their representatives. Buyers can view virtual tours or ‘attend’ virtual showings and open houses before viewing a property in-person,” she said. “Sellers are asked to leave all lights on, and doors open before leaving their home for a showing, reducing the number of touchpoints when buyers go through the home. Buyers are requested to only attend in-person showings if their name will appear on an offer, to reduce the number of people coming through the home, and buyers are asked not to touch anything while in the home. Masks have become the standard when viewings homes as well.”

She added, “The market showed it’s incredibly resilience during the pandemic, with home prices not budging at all. In fact, prices are rising and it is a great time to get into the market.”