September Ending Moving on into October

Prices dropped in Single Family Homes in September on average about 1.9% equating to about a $7,093.00  drop in value, but....

LOOK AT THE SIGNS OF STABILITY:

  • In contrast the Condos held their ground and increased in value on average from $$251,048 to $252,234! That is a good sign.
  • Another good sign is that the Duplex and Rowhouse style properties were up 0.1% - selling on average for $315,690.
  • A better sales to listings ratio - we are at 55% instead of the 42% range just a few months back in May of this year
  • Days on Market is down from 63 days to 61 days
  • Less inventory is good for balance - at the end of August we had 9612 residential properties in inventory, we had 8808 home in the MLS inventory at the end of September

The numbers reflect a different viewpoint than a lot of peoples feelings - the market is strong despite the apprehension of many.  The proof is in the pudding and pudding isn't stale!  Signing off...

Guy Pelletier

Guy Pelletier

Broker/Owner
CENTURY 21 Reward Realty
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