Great news for the Western Suburbs!

Exciting news - we are now seeing Carleton Place set the stage for expansion! During the recent Council meeting, the township has decided to make a couple documents available to the public, which includes a neighbourhood draft sketch. Included in the designs are two new schools, community center, and a few parks. In all, this new construction will house anywhere from 1,500 to 3,000 new units and room for future development! As you'll see progress begin to take shape this summer, it may be a couple of years before the project is completed.

For additional information on the expansion, click here.

 

The first half of the year has been great for resale properties in the West! 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 144 87 +65.5% $291,149 $270,333 +7.7% 3
Beckwith 83 62 +33.9% $351,727 $398,873 -11.8% 7
Almonte 55 39 +41.0% $291,359 $318,621 -8.6% 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 come to a more balanced market, however that may take a little more time - especially with the new expansion finally looking like it'll get off the ground.

Thinking of moving, click here

Active Listings Carleton Place Beckwith Almonte
Current 95 91 60
2015 197 141 105
2014 127 139 77
2013 108 99 60
2012 104 114 67

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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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