September stats
| August | | | September | | |
| | Change from | July | | Change from | August |
New Listings | 2,628 | -136 | -4.9% | 2,564 | -64 | -2.4% |
Sales | 1,673 | -604 | -26.5% | 1,704 | +31 | -3.5% |
Average Sale price | $304,411 | -$4092 | -1.3% | $308,747 | +$4,336 | +1.4% |
House | $366,788 | -$5,953 | -1.6% | $371,947 | +$5,159 | +1.4% |
Condo | $242,035 | -$2230 | -0.9% | $245,546 | +$3,511 | +1.4% |
What do these stats tell us?
The market is looking solid, with prices increasing again through September, for both condominiums and single family homes that makes
Price increases of six months for houses and five months for condominiums so far this year, with the expected seasonal bump from July to August
With sales up and for last month and listings down and reduced inventory these are factors in the rising prices. More buyers less sellers, means more competition for the properties that are currently on the market.
For buyers, with properties selling faster ( days on market also fell this month), this means that going back to a property that you had viewed earlier may be a luxury that is fast disappearing, and acting quickly may become a necessity to get your new dream home.
What does this mean for sellers; there are fewer properties for prospective buyers to look at. When priced right your home should sell faster and for a higher price, than at any time previously this year.
I was asked yesterday, where are prices in relation to the boom in 2007. Prices peaked in June 2007 for single family homes at $417,265, and July for Condominiums at $271,908. Prices fell through the remainder of 2007 and 2008 hitting bottom in December 2008 with single family homes at $351,870 and condominiums $226,857 in February of this year.
With the first signs of winter showing, the market is set to enter the snowy season solid and in good shape, shaking off any remaining signs of the market slump.
Making your Real Estate needs my priority.
Dave Dry
www.davedry.ca
Licensed Realtor in the province of Alberta