Okay, so it's October 1st and I'm looking at stats compared to last year. I'm about to embark on a third quarter analysis of our marketplace when I couldn't wait to write my first finding. It's that unbelievable! Here are the stats of all residential property sales for HRM:
Sept 1, 2014 - Sept 30, 2014
Total Sales: 361
Median List Price: $249,900
Median Sale Price: $238,500
Average Days On Market: 106
Sept 1, 2015 - Sept 30, 2015
Total Sales: 39
Median List Price: $289,900
Median Sale Price: $289,000
Average Days On Market: 18
Seriously, I repeated the search criteria at least 5 times to make sure I was seeing/doing it right and that my computer was not broken.
Here's what it tells me:
September 2014 sales were normal in a buyer's market as compared to 2011 and looking back to the balanced market of 2007 when September sales were 490. Buyers were taking their time shopping and negotiating a good deal with a 106 averages days on market and 95.4% list/sale ratio.
2015 tells me buyers are jumping off the fence when they see their house or an increase of out of town buyers who need to buy fast and sellers are pricing their homes realistically with 18 average days on market and 99.7% list/sale ratio.
Record low mortgage rates (as low as 2.59%, 5 yr) and 4,294 residential properties to select from, NOW is the time to buy! Right now!
Call me for more information or to set you up on our new search and notification system to find exactly what you're looking for.