Home prices in the 905 region took another hit in July, falling even further away from their February peak. found that some regions in the 905 saw average home prices plummet nearly 30%. Simcoe County, home to towns like Collingwood, Innisfil, and Wasaga Beach, has seen the largest drop, with prices there down 29.25% from February to July — a loss of $360,479. Simcoe also saw the largest month-over-month decline, with prices slipping 4.6% from June to a new average of $872,000.
“Right after, a couple more houses came on market in the same area,” Liu said. “They were just sitting for almost two months. Now they sold for almost $100,000 less than what my client had paid.” But Liu notes that the type of housing he’s seeing be the most affected by the changing 905-area market is entry- and mid-level homes. Houses that were once going for $1.4-1.6M are now fetching $1.1-1.2M, he says. The luxury market, on the other hand, has been more protected.
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