August stats
| | | | | | |
| June | Change from | May to June 2010 | July | Change from | June to July 2010 |
New Listings | 3,473 | -197 | -5.3% | 2,921 | -552 | -15.8% |
Sales | 1,539 | -143 | -8.5% | 1,384 | -155 | -10.0% |
Average Sale price | $317,071 | -$2,484 | -0.7% | $307,113 | -$9,958 | -3.1% |
House | $391,497 | $914 | 0.2% | $371,466 | -$20,031 | -5.1% |
Condo | $242,644 | -$5,882 | -2.3% | $242,761 | +$117 | +0.04% |
What do these statistics tell us?
As we can see from the nu,bers above the market continues to lag. The total number of listings is still above 9,000 this is comparable to the same time in the last years going back to 2006, in this year the end of month inventory was a lot lower with 2,875 properties residential active on the MLS system.
Where the market is falling short is in sales, in comparison to the new listings in the month of July.
Sales Listings
2010 – 1,384 2,921
2009 - 2,277 2,764
2008 - 1,784 3,582
2007 - 1,565 4,463
2006 - 1,953 1,610
As we can see in July less than half the number of new listings sold. This means that month over month the inventory will continue to climb, this is provides a challenging market for those looking to sell and sellers need to be aggressive in pricing their properties, these are getting buyers and are selling.
Buyers are able get a very good value for their money, with a good selection to choose from. The mortgage changes earlier in the year increased buyer activity to April and May.
What do these statistics tell us?
As we can see from the nu,bers above the market continues to lag. The total number of listings is still above 9,000 this is comparable to the same time in the last years going back to 2006, in this year the end of month inventory was a lot lower with 2,875 properties residential active on the MLS system.
Where the market is falling short is in sales, in comparison to the new listings in the month of July.
Sales Listings
2010 – 1,384 2,921
2009 - 2,277 2,764
2008 - 1,784 3,582
2007 - 1,565 4,463
2006 - 1,953 1,610
As we can see in July less than half the number of new listings sold. This means that month over month the inventory will continue to climb, this is provides a challenging market for those looking to sell and sellers need to be aggressive in pricing their properties, these are getting buyers and are selling.
Buyers are able get a very good value for their money, with a good selection to choose from. The mortgage changes earlier in the year increased buyer activity to April and May.
Dave Dry
Realtor
Re/Max Real Estate
Direct: 780 446 3727
Office: 780 457 3777
E-mail:info@davedryhomes.com
www.davedry.ca
www.davedryhomes.com
My blog:www.davedry.ca