Welcome back everyone. It seems that when the oil and gas prices took a dive, most people adopted a wait-and-see attitude for the first couple of months. January and February sales were understandably slow as people took the time to assess what the impact of a slower oil economy would be on Swift Current.
By the time March hit, we seem to have realized that while it is important to us, and our hats go off to those in that industry and we wish the best to anyone whose job was affected, life goes on for the rest of us. After just 6 sales in January and a whopping 9 in February, March has rebounded to last year’s record-setting levels. While year to date numbers still have some catching up to do, March of 2015 sales equaled those of last year at 25. And despite some increase in our new inventory numbers, we only had 77 listings on the Swift Current MLS® at the end of March as opposed to 95 last year, a drop of almost 19%.
So that has meant for some quick sales, some sales at or close to asking price and a slight increase in our median sales price, which rose 7.2% to $241,000 so far this year. Average days on the market have also strengthened, with March’s average dropping almost 29% to 57 days.
It looks for now like the spring has sprung in the local real estate market and that Swift Current’s healthy housing industry has gotten back on its proverbial horse and is ready to ride clear into the summer sunset.