Is a 12.7% annual return a good thing?
While we’re looking at changes, I thought it would be interesting to see what has happened to real estate prices over the last decade as well.
I looked up the average sale price of a 3 to 4 bedroom, single family home in the area encompassing Collingwood, Meaford, Wasaga Beach, Clearview and the Town of Blue Mountains. According to the data I found on the Georgian Triangle Real Estate Board MLS® system, the 12 month average sale price at the end of April, 1996 was $120,500.00. At the end of April, 2007, the average was $273,300; an increase of 127%!
Pretty darn good if you already owned in 1996 but pretty overwhelming if you are hoping to buy in the future.
