Could the Tide be Turning? or is it Ebbing and Flowing?

POSITIVE MARKET INDICATORS:

  • The Average Price of Single Family Home in March was $349,716, up 0.7% from February's $347,309
  • March Month end Listing inventory was 7,476 residential properties (down from 9,464 in March 2008)
  • Average days-on-market was 56 days (down five from February) 
  • Condo prices increased 1.6% in March to $230,469, after a 5% drop in February
  • The average price of a duplex/rowhouse was $276,776.
  • The sales-to-listing ratio was 48% versus the 30% we have been experiencing

With unheard of low interest rates that could last for a year to two years, we appear to be moving in the right direction. 

 

Guy Pelletier

Guy Pelletier

Broker/Owner
CENTURY 21 Reward Realty
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