Fantastic 2016 continues for Western Suburbs!

Spring has been great for the western suburbs! Average sales YTD are up considerably in all three western suburbs. As house prices struggle to remain close to par compared to last year, we are seeing a decline in months of inventory. As months of inventory continue to drop closer to a balanced market - which is anywhere from 3-6 months of inventory - we should see average sale prices start to level out closer to 2015 numbers.

Area

2016 Sales

2015 Sales % +/- 2016 AVG $ 2015 AVG $ % +/-

Inventory (months)

Carleton Place 107 69 +55.1 $292,356 $274,303 +6.6 5
Beckwith 62 50 +24.0 $355,273 $396,722 -10.4 5
Almonte 39 33 +18.2 $300,337 $321,161 -6.5 6

Number of sales have soared in comparison to 2015, however the number of active listings are declining to numbers that we were seeing in 2011 - which was the tail end of the highway 7 expansion. I do anticipate we will come to a more balanced market, however that may take a little more time.

Active Listings Carleton Place Beckwith Almonte
Current 95 93 67
2015 176 135 106
2014 127 128 76
2013 112 102 66
2012 101 111 78

Average days on market continue to be over 2 months, the month of May ended with an average of 72 days - down considerably from 84 & 88 the past two months. To ensure your home has the best chance of selling quickly, always call your trusted real estate professional.

For your FREE, no obligation, home market evaluation - click here

Please note; average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

To ensure you get an accurate market evaluation, give me a call :)

 

 

 

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