Cobourg-Port Hope & District Year to Date Residential Comparison December 2014 vs. 2013

 

           
           
COBOURG-PORT HOPE & DISTRICT REAL ESTATE BOARD   RESIDENTIAL    MONTH ENDING REPORT   MARKET ANALYSIS
           
MONTH ENDING: DECEMBER 2014 2013 Annual Change    
           
DOLLAR VALUE  SOLD DECEMBER 13,052,790 11,945,040 9%    
           
NUMBER OF UNITS LISTED   ACTIVE 336 357

 

+9%

 

   
           
YEAR TO DATE VALUE SOLD 296,101,343 265,051,571 12%    
           
NUMBER OF UNITS SOLD   YTD 1070 985 8.6%    
           
AVERAGE DOLLAR VALUE SOLD $276,730 $269,088  3%    
           
As of DECEMBER 31,2014          
           
           
           
           
Total Active Listings   336 357 -6%    
           
           
           
           
   
           
     
           
Average residential sale price YTD is $276,730        

We are in our winter market .Normally the real estate market starts to get busier February. Interest rates remain excellent. One can not predict where rates will go, but for first time buyers, with rates so low ,it might be wise to lock in your mortgae for a five year term. It is also prudent not to buy  (spend) more house than you should because of the low inrerest rates. Interest rates have a huge impact on affordibility. Compare your quoted rate with a rate that is 2% higher. If rates went up by 2%, are you still comfortable with your mortgage?

 

 
           
           
           
           
Market Analysis prepared by Garry Liboiron, Broker of Record for Century 21 All-Pro Realty (1993) Ltd.  
           

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