Local Market Update for December 2015

Well as we edge toward a balmy Christmas season, it is time to go over the previous month’s stats.

November 2015 continued to be a lot busier than its 2014 predecessor. Last month saw 21 home sales on the MLS system, up a whopping 50% from the 14 sold last year – you know, last year, the second busiest year ever. In response to that, new listings were also up with 35 properties coming on the market. That is up almost 106% from the 17 that were added in November of 2014. In November, sellers realized close to 96% of their asking price and sold in 48 days on average compared to 61 in the same month last year, which constitutes over 21% faster sales time. We are carrying about 94 properties total on inventory, which includes vacant lots, some nearby acreages, mobile homes, condos, semi-detached and detached houses. That is up from a paltry 79 last year at this time.

Year to date, our new listings are up over 15% with 467 properties coming on the market, compared with 404 last year. Our sales to date were sitting at 270 at the end of November, down about 7% from last year’s high of 291. We have been consistently catching up to last year’s numbers since the slow January and February. Who knows, we may yet catch up in the last month of the year! I think we had something like 19 December sales in 2014 and so far this month we have had 3 final sales and have 8 conditional sales. It could happen!

Meanwhile, with all of this activity, our median sales price continues to rise. As of the end of last month it sits at $266,250, which is up 13% from the $235,000 of 2014. So I guess the bottom line is that the housing market is still strong and healthy in Swift Current. Our inventory is not plentiful but is okay in most categories (though I sure could use a 3-bedroom bungalow in the Trail area that is ready to move into), our sales are strong, and our median price is up. Truth be told, we are the envy of almost any other market right now, even other ones in Saskatchewan.

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Kelsey Adam

Kelsey Adam

CENTURY 21 Accord Realty
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