For those of us living in smaller communities like Rockwood, it can be hard to determine how much house prices change year to year. Data reports published by real estate boards and brokerages tend to focus on larger markets because of the requirement for bigger data. While the number of houses sold here is low compared to towns and cities, the amount of appreciation we see on houses is still affected by a low supply of houses.
As a Realtor in the area it is my job to know the market, but as a resident I know we are given very little valuable info about what is happening in real estate. Aside from looking at listings and seeing asking prices, the average person is left in the dark about what houses actually sell for.
To help I have put together a small data report on sales for Detached and Townhouses/Semi-detached for the past three years.
A lot has happened in real estate during this time and prices are up significantly, especially for detached homes which Rockwood is predominantly made up of. Detached homes have seen a significant increase in price in just three years. In total from 2015-2017 house prices have gone up 43%. WOW! Townhouses and semi-detached have also increased, with appreciation reaching 14% in three years.
These numbers are great for those that bought in Rockwood three plus years ago. For the average person I don’t know many other places that will give you that much return on your investment; that is a huge amount of equity in a short time frame! Unfortunately for those looking to buy, prices may be unaffordable now. But, the good news is Rockwood is still less expensive than its neighbours Milton and Guelph. Check out my blog HERE for more info on house prices.
Rockwood is a great place to live and if you are looking for more information on the area it would definitely benefit you to contact a local Realtor who knows the area and the numbers.