Fergus

established 1858

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DISCOVER

About Fergus

Fergus is the largest community in Centre Wellington, a township within Wellington County in Ontario, Canada. It’s most famous for its scenic river views, waterfalls, limestone gorge, and annual Scottish Festival. Fergus has deep Scottish roots dating to 1833 when settlers called it “Little Falls” because of its scenic waterfalls. This historic river town is divided by the stunning Grand River and is a little over one hour’s drive from Toronto. The Fergus Scottish Festival and Highland Games is the town’s largest and most recognized festival. Fergus is the perfect mix of heritage atmosphere and modern convenience.

market update
market update

Comparative Analysis

  2022 Y/Y M/M
Sales 15 -42.3% -21.1%
New Listings 32 -15.8% -15.8%
Average Sale Price $943,300 17.0% -7.6%
Median Sale Price $1,010,000 36.4% -9.1%
SNLR* 46.9% -21.5% -3.1%

Source: TRREB Market Watch Report – Summary of Existing Home Transactions (Detached)

*SNLR (Sales-to-New-Listings-Ratio)

  • SNLR at 55% or more indicates a seller’s market; more buyers than properties for sale
  • SNLR between 34% and 54% indicates a balanced market; about the same number of properties for sale as there are buyers
  • SNLR at 35% or less indicates a buyer’s market; more properties for sale than there are buyers
fergus
fergus

June 2022

Higher borrowing costs continued to impact home sales in June 2022. The Toronto Regional Real Estate Board (TRREB) has released its latest market stats, which show a 41 percent decline in sales compared to last year across all housing types. The average selling price, at $1,146,254, remained 5.3 per cent above the June 2021 level, but continued to trend lower on a monthly basis. Month-over-month the average selling price dipped by 5.5 per cent.

While the number of transactions was down year-over-year, the number of new listings was up in most of our service areas. This has provided for an even greater shift into a buyer’s market, resulting in a more moderate annual pace of price growth.

“Our region continues to grow because we attract people and businesses from all around the world. All of these people will require a place to live, whether they choose to buy or rent. Despite the shorter-term impact of higher borrowing costs, housing demand will remain strong over the long-term, as long as we can produce homes within which people can live. Policy makers at all levels need to make this their key goal,” said TRREB CEO John DiMichele.

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